The Small Business Administration found that almost 25 percent or $91.1 billion of federal agency contracts were awarded to small businesses during the 2014 fiscal year.
It represented the highest small business contracting rate since Congress established a 23 percent target in 1997, SBA said Friday.
FY 2014’s numbers increased from the previous fiscal year’s 23.4 percent.
“President Obama prioritized procurement at the highest levels of his administration and we’ve set a new government-wide standard as a result,” said SBA Administrator Maria Contreras-Sweet.
The U.S. Agency for International Development as well as the departments of Homeland Security and Commerce earned an A+ on SBA’s FY 2014 Small Business Procurement Scorecard, while theÂ Defense Department received an A grade.
SBA also found that the U.S. government met its contracting goals for businesses owned by women and service-disabled veterans as well as for companies in historically underutilized business zone and economically disadvantaged areas.