Podcasts Government Federal Drive with Tom Temin Agencies making substantial progress toward higher small, disadvantaged contracting goal

Agencies making substantial progress toward higher small, disadvantaged contracting goal

Published: July 19, 2023, 11:19 a.m.

The federal government is setting a new record for overall small business contract spending \u2014 with more than a quarter of federal contracting dollars going to small businesses last year.\nThe Small Business Administration, in its\xa0fiscal 2022 Small Business Federal Procurement Scorecard\xa0released Tuesday, found agencies spent a record $162.9 billion dollars on small business contracts last year \u2014 an\xa0$8.7 billion increase from fiscal 2021.\xa0\nAbout 26.5% of all federal contracting dollars in fiscal 2022 went to small business prime contracts awards \u2014 which exceeds a government-wide goal for 23% of that spending to go to small business prime contracts.\nSBA Administrator Isabel Guzman said small business owners in the federal marketplace support over a million jobs across several sectors \u2014 including manufacturing, construction, and research and development.\nLearn more about your ad choices. Visit podcastchoices.com/adchoices