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Government Breaks Record For 5 Separate Small Business Contracting Goals In FY 14.

July 6, 2015

Government Breaks Record for 5 Separate Small Business Contracting Goals in FY 14.

 

The federal government awarded over $91 billion in federal contracts last year according to the Small Business Administration (SBA).  This represents 25% of total prime contracting dollars.  This was the highest percentage of contracts to small businesses since Congress set a 23 percent statutory goal back in 1997.  The achievement supported more than 550,000.00 jobs in the U.S. economy.

The Department of Defense, which accounts for roughly 65% of small business contracts, awarded 23.5 percent of its contracts to small firms - which is the highest in its history.

The federal government also broke 3 other records for FY14 including:

  • awarding 9.5 percent of federal contracts to economically and social disadvantaged businesses vs. a goal of 5 percent.
  • awarding 3.7 percent of contracts to firms owned by service-disabled veterans vs. a goal of 3.0 percent.
  • awarding 4.7 percent of contracts to women-owned businesses.  While this was the highest percentage ever recorded, it was slightly less than the 5 percent goal.
The entire federal acquisition workforce deserves credit for these outstanding achievements on behalf of small federal government contractors.

 




 


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