Biden Administration exceeds goal for small business contracts

Cris Collingwood//July 26, 2022

Biden Administration exceeds goal for small business contracts

Cris Collingwood//July 26, 2022

U.S. Small Business Administration today said the Biden-Harris Administration exceeded its small business federal contracting goal, awarding $154.2 billion in contracts to small businesses. 

Isabella Casillas Guzman

SBA Administrator Isabella Casillas Guzman said the awards are an increase of $8 billion from the previous fiscal year. 

The share of contracts going to small businesses equates to 27.2 percent of total federal contracting funds. Combined with $72 billion in subprime contracting goals, this historic spend has supported over one million jobs in the American economy, she said.  

Overall, the federal government exceeded its goal of 23% in prime contract dollars and earned an “A” on this year’s government-wide Scorecard.  Eleven federal agencies earned an “A+” for their agencies’ achievements in small business contracting, and an additional ten agencies received an “A” grade, according to Guzman. SBA sets contracting goals for each agency and works with government buyers to ensure that they prioritize small businesses. 

“The Biden-Harris Administration set historic records in small business contracting, including the highest percentage spend to Small Disadvantaged Businesses and growth for our Service-disabled Veteran Small Businesses, which has advanced competition, strengthened local economies, and supported job growth across the nation,” Guzman said. 

 “By expanding small business opportunities and building equity in federal procurement, we have helped to ensure that federal agencies can fully leverage the extraordinary talent and innovation delivered by our nation’s entrepreneurs,” she added. “Building on the major procurement reforms announced last year; the SBA will continue to further progress in all federal procurement goals so more entrepreneurs can grow their businesses with government contracts, including those presented by President Biden’s Infrastructure Investment and Jobs Act.” 

 “These small business contracts represent an incredible impact on the Mid-Atlantic region,“ said SBA Mid-Atlantic Regional Administrator John Fleming, “infusing more than $53 billion into the economies of DC, Delaware, Maryland, Virginia, West Virginia and Pennsylvania – the agency’s largest portfolio of federal contractors.  That’s nearly 12,500 companies providing quality, American-Made goods and services and employing thousands of U.S. workers, while advancing innovation and growth.” 

 “Small businesses know how to get the job done, and they have a key role to play in delivering the generational infrastructure investment underway through the Bipartisan Infrastructure Law,” said U.S. Transportation Secretary Pete Buttigieg. “We know that it hasn’t been easy for small businesses – particularly those owned by women and people of color – to reap the benefits of past infrastructure investments, and we’re proud of the actions this Administration is taking to level the playing field, remove barriers to opportunities, and increase access to wealth creation for small businesses across America.”