Fiscal year 2019 marked a record year for the amount in contracts awarded to small businesses. The The U.S. Small Business Administration has exceeded its small business federal contracting goal of 23 percent, awarding 26.50 percent or $132.9 billion in federal contract dollars to small businesses last year. That’s a more than $12 billion increase from the previous fiscal year.
The government also exceeded its contracting goals for small disadvantaged businesses, women-owned small businesses, and service-disabled veteran-owned small businesses. The Fiscal Year 2019 Small Business Federal Procurement Scorecard indicates this is the second time in Scorecard history that the women-owned small business contracting goal of 5% has been met. The federal government also increased its contracting with HUBZONE small businesses.
The $132.9 billion in prime contract dollars awarded to small businesses and $90.7 billion in subcontracts equates to the creation of one million jobs.
“I’m thrilled to report that the federal government exceeded its set goals and awarded a significant $132 billion to small businesses in FY19,” said SBA Administrator Jovita Carranza. “There is good news for women-owned small businesses too. For the second time in the history of the Scorecard, the federal government has met the women’s contracting goal.”
“For the seventh year in a row, the federal government has also exceeded the contracting goal set for service-disabled veterans. The federal prime and subcontracts awarded to small businesses in FY19 equate to more than one million jobs created. Every contract that gets in the hands of a small business is a win-win for our nation, entrepreneurs and their employees, and the communities they support. This is especially important now, as our economy recovers from the pandemic-related setbacks.”