Federal agencies met a government goal and spent at least 23 percent of their contracting dollars with small businesses during FY 2014, the U.S. Small Business Administration reported.
All told, agencies spent 24.99 percent of their dollars (or $91.7 billion) with small contractors. That’s a gain of $8 billion over the previous fiscal year. This is the second year in a row for the government to achieve the goal.
“We’re celebrating the federal government’s best year ever for small business contracting, and it’s a testament to the world-class services that America’s entrepreneurs are providing their government across every federal agency,” SBA Administrator Maria Contreras-Sweet said. “President Obama prioritized procurement at the highest levels of his administration, and we’ve set a new government-wide standard as a result.”
The government also surpassed its subsidiary goals of spending at least 5 percent of contracting dollars with small, disadvantaged businesses. The final total was closer to 9.46 percent.
It also beat its contracting goal for service-disabled, veteran-owned businesses: 3.68 percent of contracting dollars, beating the 3 percent goal.
But the agencies still fell short when it came to working with women-owned small businesses. The goal is 5 percent of contracting dollars. The final total was 4.68 percent.
The government also failed to meet its HUBZone goal of 3 percent of contracting dollars. In reality, agencies spent 1.82 percent.
You can find a full list of contracting results here, broken down agency by agency.