Biden-Harris Administration exceeds small business federal contracting goal

DC News - Published Aug 02, 2022

The U.S. Small Business Administration has announced that the Biden-Harris Administration exceeded the small business federal prime contracting goal for fiscal year 2021. The goal is set at 23 percent for prime contracts awarded to small businesses, and the federal government awarded 27.2 percent, or $154.2 billion, in federal contract dollars to small businesses during that time period.

This represents an increase of $8 billion in total contract dollars from the previous fiscal year, and is also accompanied by another $72 billion in subprime contracting dollars spent with small businesses during fiscal year 2021 (representing 30.9 percent of subprime spending). Additional highlights from the release of the SBA's government-wide contracting Scorecard for 2021 include: Small Disadvantaged Business (SDB) spending reaching a historic high of 11 percent in total; Service-disabled Veteran-owned small business (SDVOSB) reaching 4.4 percent, on a goal of 3 percent; HUBZone spending reaching a historic high of $14.3 billion in spending; and Women-owned Small Businesses (WOSB) receiving more than $26 billion in spending for a third consecutive year.

"By expanding small business opportunities and building equity in federal procurement, we have helped to ensure that federal agencies can fully leverage the extraordinary talent and innovation delivered by our nation's entrepreneurs," said SBA Administrator Isabella Casillas Guzman in a statement.

Read the press release from the SBA at https://www.sba.gov/article/2022/jul/26/biden-harris-administration-awards-record-breaking-1542-billion-contracting-small-businesses.