Federal grants can provide significant support to small businesses, and some federal agencies are more successful than others in awarding these grants. In fiscal 2023, the Small Business Administration (SBA) exceeded its goal of awarding 23% of contracts to small businesses, with 28.4% of contracts awarded totaling $178.6 billion. These contracts have had a positive impact on the economy, supporting over a million jobs in industries such as manufacturing, construction, and technology.
The SBA recently released its annual scorecard, which evaluates federal agencies on how well they meet their small business contracting goals each year. The overall goal for the federal government is to award 23% of contracts to small businesses, and in fiscal 2023, this goal was exceeded with 28.4% of contracts awarded to small businesses. According to SBA Administrator Isabel Casillas Guzman, these contracts are critical in fueling the nation’s economy and providing small businesses with access to federal contracting opportunities as part of President Biden’s Investing in America agenda.
Ten federal agencies were awarded ‘A+’ grades on the annual scorecard for their efforts in supporting small businesses, including 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