Federal Drive with Tom Temin

Agencies set records for small business contracting in 2023

05.01.2024 - By Federal News Network | Hubbard RadioPlay

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Agencies, once again, set new records almost across the board for contracting with small businesses in fiscal 2023. New data from the Small Business Administration shows agencies awarded an all-time high of 28.4% of all eligible federal contract dollars to small businesses.

At the same time, SBA’s new small business scorecard data shows agencies met or surpassed governmentwide goals in three of five socio-economic category, including service disabled veteran-owned small businesses.

In all, agencies awarded $178.6 billion to small businesses last year, which is an increase of $15.7 billion from 2022. The governmentwide small business contracting goal is 23%. House Small Business Committee lawmakers recently passed a bill to increase that goal to 25%.

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