Federal Government Exceeds Small Business Contracting Goals
News - Published Sep 01, 2020
The United States Small Business Administration (SBA) has released its Fiscal Year 2019 Small Business Federal Procurement Scorecard, which, among other things, announces that the federal government exceeded its small business participation goal for fiscal year 2019. The goal was set at 23 percent, and the actual small business utilization during that time period was 26.50 percent, representing $132.9 billion in federal contract dollars awarded to small businesses (an increase of $12 billion over the prior fiscal year).
The federal government as a whole was awarded a grade of "A" for its contracting goals fulfillment. Further figures that were included in the scorecard include the goal for small disadvantaged business (10.29 percent participation on a 5 percent goal), service-disabled veteran-owned small business (4.39 percent participation on a 3 percent goal), women-owned small business (5.19 percent participation on a 5 percent goal), and HUBZone businesses (which fell short of the 3 percent goal, with only 2.28 percent participation).
All goals for the various federal agencies are determined annually in participation with the SBA, allowing the SBA to ensure that the sum total of all the goals together matches its total 23 percent small business goal. SBA conducts various analyses in participation with other agencies to ensure data integrity.
"Every contract that gets in the hands of a small business is a win-win for our nation, entrepreneurs and their employees, and the communities they support," said SBA Administrator Jovita Carranza in a press release.