Small businesses can receive a significant boost from federal grants, and some federal agencies are more successful than others in awarding these grants. The Small Business Administration recently released its annual scorecard measuring how well federal agencies meet their small business contracting goals. The federal government’s overall goal is to award 23% of contracts to small businesses, and in fiscal 2023, 28.4% of contracts totaling $178.6 billion were awarded to small businesses. This marks the third consecutive year that the goal has been surpassed.
The contracts awarded to small businesses support over a million jobs in industries such as manufacturing, construction, and technology. SBA Administrator Isabel Casillas Guzman highlighted the impact of these contracts on the economy and emphasized the importance of providing small businesses with access to federal contracting opportunities through initiatives like President Biden’s Investing in America agenda.
Ten federal agencies received an ‘A+’ grade on the annual scorecard for their success in awarding contracts to small businesses. These agencies include the SBA, Department of Agriculture, Department of Housing and Urban Development, Department of the Interior, Department of Homeland Security, National Science Foundation, General Services Administration, Department of Commerce, Nuclear Regulatory Commission, and Office of Personnel Management. On the other hand, two agencies received a ‘B’ grade, the Environmental Protection Agency and the Department of Health and Human Services.
Small businesses can find more information on agency scorecards and federal contracting opportunities at www.sba.gov/agency-scorecards.
