The federal government met its small business federal contracting goal for the first time in eight years, thanks to the SBA and President Obama’s commitment to increasing small business contracting opportunities. In Fiscal Year 2013, our government awarded 23.39 percent in federal contracts to small businesses which is $83.1 billion of eligible contracting dollars according to SBA’s Small Business Procurement Scorecard.
Advancement and progress continues in several small business prime contracting categories. The SBA has increased its efforts and collaboration with all federal agencies to broaden opportunities for our small businesses to compete and qualify for federal contracts. Furthermore, the Obama Administration has accelerated payments to small businesses through the “QuickPay” program so small business owners can maintain cash flow to grow their businesses. Additionally, the private sector’s equivalent, SupplierPay will support private sector contracting for small businesses.
We all know that when small businesses earn federal contracts, it’s a ‘win-win’ for small businesses, the innovative job creators who fuel the nation’s economy, and the federal government.