Small Businesses Get More Federal Contracts
| 30 | Aug 2010 |
Small businesses got $3 billion more in federal contracts in fiscal year 2009 than in fiscal year 2008, according to data released by the Small Business Administration late Friday.
Small businesses were awarded $96.8 billion in federal prime contracts during the period. This represents 21.89 percent of all federal contracts awarded to private business. The SBA has been charged with meeting a goal of overseeing the award of 23 percent of all federal contracts to small businesses.
“This represents real progress, but not enough. We must reaffirm our commitment to ensuring that the 23 percent goal is met and exceeded,” SBA Administrator Karen Mills said in a statement. “Federal contracts awarded to small businesses are a ‘win-win’ – providing small businesses with the opportunity to grow and create jobs , and offering innovative services and essential goods to the government at great value to the taxpayers.”
Of the $96.8 billion, 5 percent went to women-owned businesses , while another 5 percent were awarded to “small disadvantaged” businesses. Three percent of the contracts went to veteran-owned businesses and another 3 percent were awarded to HUBZone businesses.
The small business Procurement Scorecard fulfills a requirement by President Obama and Congress for more accountability, according to the SBA. It also measures progress that departments are making to ensure small business opportunities remain an integral part of their acquisition of goods and services to meet mission objectives.