The General Services Administration increased its goal to provide federal contracting opportunities for small disadvantaged businesses to 21 percent in fiscal year 2022, up from 5 percent in FY 2021.
“This is an ambitious goal – but ambitious goals are exactly what we need to promote equity and increase small and small disadvantaged business participation in the federal marketplace across all categories,” Exodie Roe, associate administrator of the office of small and disadvantaged business utilization at GSA, said in a statement published Thursday.
“GSA has an impressive track record of meeting and exceeding small business benchmarks: obligating over 46% of GSA spend to small business and just over 20% to small disadvantaged business in FY21,” Roe added.
The Office of Management and Budget released a memorandum in December, requiring agencies to increase the share of contracts awarded to SDBs to 15 percent by 2025.
In January 2021, President Biden signed an executive order that requires agencies to improve access of underserved communities and individuals to federal contracting opportunities.