Government Procurement Opportunities
The federal government purchases billions of dollars in goods and services each year that range from paperclips to complex space vehicles. To ensure that small businesses get their fair share, statutory goals have been established for Federal executive agencies. They are:
- 23 percent of prime contracts for small businesses
- 5 percent of prime and subcontracts for small disadvantaged businesses
- 5 percent of prime and subcontracts for woman-owned small businesses
- 3 percent of prime contracts for HUBZone small businesses
- 3 percent of prime and subcontracts for service-disabled veteran-owned small businesses
In addition to the goals established, the Small Business Act 15(g)(1) also states that it is the policy of the United States, that each agency shall have an annual goal that represents, for that agency, the maximum practicable opportunity for small business concerns, small business concerns owned and controlled by service-disabled veterans, qualified HUBZone small business concerns, small business concerns owned and operated by socially and economically disadvantaged individuals, and small business concerns owned and controlled by women to participate in the performance of contracts let by that agency.
References:
• Small Business Administration
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