The Small Business Administration found that the federal government exceeded the small business contracting goal of 23 percent in fiscal year 2023 by awarding a record high of $178.6 billion, or 28.4 percent of total contracting dollars, to small enterprises.
SBA said Monday federal contract dollars awarded to small businesses reflect an increase of $15.7 billion from FY 2022, when small companies secured $162.9 billion in contract awards.
According to the FY 2023 Federal Procurement Scorecard, a dozen agencies earned an “A” grade and 10 federal agencies secured an “A+” grade, including SBA, General Services Administration and the departments of Agriculture, Homeland Security and Commerce.
Federal agencies awarded $86.4 billion to small business subcontractors, achieving their subcontracting goal.
The agencies also exceeded contracting targets for small disadvantaged and service-disabled veteran-owned small businesses, which are set at 12 percent and 3 percent, respectively.
The federal government awarded 12.1 percent or $76.2 billion of contract funds to small disadvantaged businesses and 5.1 percent to service-disabled veteran-owned small enterprises.
Women-owned small businesses were awarded $30.9 billion in FY 2023 federal contract awards and HUBZone small companies secured $17.5 billion in contracting dollars.
“Through President Biden’s Investing in America agenda, we have championed initiatives to fuel the nation’s economy – ensuring competition and a level playing field so that small businesses can access the historic level of investments through federal contracting,” said SBA Administrator Isabella Casillas Guzman.