The Small Business Administration seems to be doing well in terms of its procurement goals, according to a recent scorecard. Even business owners who aren't specifically looking for contracting work at the moment can see this latest disclosure as a sign of how well the government has been working with different types of entities.
While it didn't necessarily reach every goal it set out for itself, the government did make some notable achievements as it tried to contract with various types of smaller businesses. Overall, roughly $100 billion, or 24.34 percent of the federal contract budget, went to small businesses in 2016, surpassing the goal of 23 percent, even though it fell under the previous year's achievement of 25.75 percent..
When it came to small businesses that were either owned by service disabled veterans or considered "disadvantaged," the government outpaced its expectations, reaching almost double the percentage of funding for the latter that it intended to reach. In contrast, the government only secured 4.79 percent of funds for small businesses owned by women, .21 percent lower than its goal.
"The government outpaced some of its expectations."
In a statement on these figures, Linda McMahon, administrator of the SBA, praised the the progress that the agency has made.
"I am pleased to report that for the fourth year in a row, the federal government has exceeded its small business contracting goal," she said. "It is a win-win for federal agencies to get small business contracts into the hands of the innovative small business owners that create jobs in their communities and help to fuel the nation's economy."
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