The federal government awarded a record $162.9 billion, or 26.5 percent of total contracting dollars, to small businesses in fiscal year 2022, an increase of $8.7 billion from the prior year, according to the Small Business Administration.
SBA said Tuesday last year’s prime contracting rate surpassed the 23 percent annual target, while small business subcontracting awards amounted to $79.1 billion or 30.9 percent of federal expenditures.
âThrough President Biden’s Investing in America agenda, we have championed initiatives to fuel our nationâs historic economic growth while reducing barriers and ensuring fair competition in federal contracting,â SBA Administrator Isabella Casillas Guzman remarked.
In the annual governmentwide procurement scorecard, 10 agencies received an A+ grade for contracting achievements with the small business community and another 10 scored an A.
However, SBA noted a multiyear decline trend in the number of small business vendors receiving prime contracts in the federal sector.
The General Services Administration updated a partnership agreement with SBA in May as both agencies aim to provide more contracting opportunities under the 8(a) program.
