US Misses Target for Small-Business Contracts
Federal agencies only awarded 21.5 percent of their contracts (totaling about $93 billion) to small businesses in fiscal 2008 – failing to meet their 23-percent goal and beat the previous fiscal year at 22 percent (totaling about $83 billion), according to the U.S. Small Business Administration. In further detail, they only awarded women-owned companies 1.6 percent out of their 5-percent goal, service-disabled veteran-owned companies 1.5 percent out of their 3-percent goal and historically underutilized business zones (HUBZone) companies 0.7 percent out of their 3-percent goal. In hopeful resolution, federal agency procurement officials will provide information on contracting with the government at more than 200 events until mid-November.
Source: WSJ.com | August 21, 2009