Government Meets Small-Business Spending Goal for Sixth Year
The U.S. Small Business Administration announced June 25 that federal agencies awarded more than 25% of their total procurement dollars to small businesses in fiscal 2018, exceeding the government’s 23% government-wide goal for the sixth straight year.
Total spending increased in all five goal categories: small businesses, small disadvantaged businesses, woman-owned small businesses (WOBs), service-disabled veteran-owned small businesses (SDVOSBs), and historically underutilized business zone (HUBZone) businesses. Federal small-business spending exceeded $120 billion for the first time ever.
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While agencies exceeded individual goals specifically for small Businesses, small disadvantaged businesses and SDVOSBs, they fell short with WOBs and HUBZone businesses.
The SBA also announced that small-business subcontracting exceeded $79 billion in fiscal 2018. THe BGOV subcontracts dashboard shows that the number of small subcontractors grew by 5.5% to 5,609 in fiscal 2018 from 5,919 in fiscal 2017, the highest level in the past five years.
Clients can click here to analyze small-business spending trends such as top contracts, agencies, and companies.
To contact the analyst: Paul Murphy in Washington at pmurphy@bgov.com
To contact the editors responsible for this story: Daniel Snyder at dsnyder@bgov.com; Jodie Morris at jmorris@bgov.com