The federal government missed it’s target of distributing 23 percent of contracts to small businesses, the Small Business Administration announced today.
Only 21.5 percent of federal contracts were awarded to small firms and companies, according to an SBA statement. This is an even bigger gap than in the last fiscal year, when agencies awarded 22 percent of contracts to small businesses.
This year, the total contract amount awarded to small businesses was $93.3 billion. Last year, it was $83 billion, reflecting how government spending has swelled.
“This record $93.3 billion in contracts to small businesses is significant, however, across the federal government we are committed to ensuring that the 23 percent goal is met and even exceeded going forward,” SBA Administrator Karen Mills said. “Especially during these tough economic times, federal contracts for small businesses can be just the opportunity they need to continue to grow and create jobs.”
This data might explain a lot about a plan announced earlier this week that will ramp up outreach to minority businesses.
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