The federal government got an “A” on the whole-of-government dashboard for having exceeded small business outsourcing goal by 23% in fiscal year 2021 by awarding $154.2 billion or 27.2% of total contract dollars to small businesses.
The Small Business Administration said Tuesday that federal contract funds for small businesses reflected an $8 billion increase from fiscal year 2020.
The federal government gave 11% of contract funds to disadvantaged small businesses; 4.6% to women-owned businesses; and 4.4% to businesses owned by disabled veterans.
Agencies fell short of the 3% contract target for small businesses in the historically underutilized trade area, awarding only 2.53% or $14.3 billion of total eligible dollars for l fiscal year 2021.
Small business contractors received 30.9% or $72 billion in federal contracts, beating the target of 29.36%.
According to the scorecard, 11 agencies received an “A+” rating for meeting their small business contracting targets, 10 agencies received an “A” rating, two agencies received a “B” and one agency got a “C”.
“The Biden-Harris administration set all-time records in small business deals, including the highest percentage of spending on disadvantaged small businesses and the growth of our veteran small businesses with disabilities, driving competition forward , strengthened local economies and supported job growth across the country,” said the SBA Administrator Isabelle Casillas Guzman.