Small Business Government Contracting hits record high of $163B

Source: FEDSCOOP

The federal government awarded $162.9 billion in contracts with small businesses in fiscal year 2022, exceeding its goal for working with small vendors and setting a record high, the Small Business Administration said.

The figure represents a 5.6% year-over-year increase in the volume of small business contract awards made by the U.S. government, up from a total of $154.2 billion during fiscal year 2021.

Over a quarter of federal government contract dollars — 26.5% — were awarded to small businesses in the last fiscal year, SBA Administrator Isabella Casillas Guzman said Tuesday at an event hosted at NASA’s Washington headquarters. The Biden administration’s goal was 23%.

Guzman said the federal government overall received an “A” on the SBA’s scorecard for work with small businesses for the last fiscal year. A total of ten federal agencies received an “A+” for their work with small businesses.

Click HERE to read the rest of the article.