WASHINGTON – The Biden-Harris Administration has set a new milestone by awarding a record-breaking $178.6 billion in federal procurement opportunities to small businesses, exceeding the Fiscal Year 2023 small business contracting goal of 23%. This achievement was highlighted by SBA Administrator Isabel Casillas Guzman during a roundtable discussion to mark National Small Business Week.
Administrator Guzman emphasized the administration's commitment to supporting small businesses, stating, "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 have access to the historic level of investments through federal contracting." She also expressed pride in the administration's efforts to support small disadvantaged businesses and women-owned businesses.
The success of the Biden-Harris Administration in federal procurement was reflected in the scores of federal agencies, with ten agencies receiving A+ grades, including the Small Business Administration, Dept. of Agriculture, and Dept. of Homeland Security. Additionally, the federal government overall earned an A on this year’s government-wide scorecard.
The administration's commitment to expanding access to federal contracting was underscored by various strategic initiatives, including the release of new guidance to create a more diverse and resilient federal marketplace and the enhancement of training programs for Small Disadvantaged Businesses. These efforts have contributed to the growth and success of small businesses in underserved communities.
In FY23, the federal government also achieved its small business subcontracting goals, awarding 33.34%, or $86.4 billion, to small business subcontractors, further demonstrating its support for small businesses across all demographic groups.
The annual Procurement Scorecard, which assesses federal agencies' effectiveness in meeting small business contracting goals, plays a crucial role in ensuring transparency and accountability in federal contracting. Working in collaboration with federal agencies, the Small Business Administration assists in establishing and monitoring individual prime and subcontracting goals to promote small business participation and success in government contracts.
The Biden-Harris Administration's dedication to empowering small businesses and promoting equity in federal contracting has not only driven economic growth but has also created opportunities for small businesses to thrive and contribute to vital industries.