HomeBusiness LoanFederal Contracting & Small Companies: A Good Pair

Federal Contracting & Small Companies: A Good Pair

Final month the U.S. Small Enterprise Administration (SBA) launched fiscal information for 2022 that confirmed that the federal authorities spent $162.9 billion contract {dollars} with small companies in the US. Whereas that could be a staggering amount of cash—and greater than ever earlier than—the general proportion of {dollars} that went to small companies really declined by virtually half a %. The reason being easy—not sufficient small companies are benefiting from federal contracting choices. As we transfer into the latter half of 2023, let’s change that!

Small Companies & Federal Contract {Dollars} by the Numbers

In an effort to clarify and quantify how the federal government is partnering with small companies, the SBA releases annual scorecards displaying the proportion of contract {dollars} going to small companies and the way they’re allotted. The 2022 highlights embrace:

  • $28.1 billion {dollars} went to ladies owned small companies.
  • $96.9 billion {dollars} went to small deprived companies.
  • The federal government almost met or exceeded all small enterprise prime contracting achievement targets in 2022.
  • The proportion of subcontracted {dollars} that went to small companies elevated for the primary time since 2019.

What does all of this imply for you and your small enterprise? Merely put—strike whereas the iron is scorching! The 2023 SBA Goaling Pointers point out that they’re setting the identical achievement percentages for the federal government to achieve, except the small deprived companies class growing from 11% of prime contract spending to 12%. It’s clear that the federal government is critical about funneling contract {dollars} into U.S. small companies, as advantages of those practices are being publicly shared by the Biden-Harris administration.

Getting a Piece of the Federal Contracting Pie

In earlier weblog posts, we’ve mentioned numerous federal contracting applications out there for small companies—now could be the time to provide them a assessment! Together with the financial infusion {that a} federal contract will convey your small enterprise, different advantages embrace:

  • Help from the federal government that helps you keep away from being overrun by the bigger, “large field” enterprises,
  • An expanded community of enterprise and finance professionals, and
  • Elevated financial development potential in your group. 

The SBA’s contracting information might help you discover a program specialised to your small enterprise and grant you entry to counseling in the present day. 

Let Development Capital Assist

Undecided the place to start out? Let Development Capital assist! We’re enthusiastic about serving to small companies succeed and fostering financial development the place it’s wanted most—top-of-the-line methods to try this is thru authorities contract partnerships. Contact us in the present day to get began!



Please enter your comment!
Please enter your name here

Most Popular

Recent Comments