Are you getting your share? Below is a snap shop for Maryland Small Business?
Nationally, small businesses secured a record-breaking $132.9 billion in prime federal contracts; women-owned contracting goal met for second time in history as 8 federal agencies receive A+ score
The U.S. Small Business Administration’s release of the “Fiscal Year 2019 Small Business Federal Procurement Scorecard” shows a record-breaking $132.9 billion in prime federal contracts – 26.5% of the federal contracting dollars – were awarded to small businesses. The federal government-wide prime contracting goal is for at least 23% of all prime federal contracting dollars should be awarded to small businesses.
FY 2019 Federal procurement snap-shot for Maryland, same period as the SBA Scorecard.
| Small Business Dollars | $12,919,889,676.00 |
| Small Disadvantaged Business Dollars | $6,204,407,025.25 |
| Women Owned Small Business Dollars | $3,687,368,433.47 |
| Veteran Owned Small Business Dollars | $2,145,279,856.27 |
| 8(a) Firm Dollars | $3,605,259,768.07 |
The federal government exceeded the goal for women-owned small businesses for the second time in the history of the scorecard measurement program, achieving the 5% goal for the first time in fiscal year 2015 an building upon the record successes. The women-owned small businesses achievement for FY19 was 5.19%, setting a new record.
The federal government also exceeded the goal for service-disabled veteran-owned small businesses for the seventh consecutive year, achieving the 3% goal for the first time in FY12 in addition to surpassing another goal of contracts going to small disadvantaged businesses. The U.S. government continued its trend of year-over-year record achievement that well exceeds the 5% goal for these firms: 10.29%.
I’m sure you will agree that is great to see small businesses receiving the revenue they need to grow. No doubt, the small business programs have helped small business and it can help you. If you are a small business why not take a look at and analyze the SBA Scorecard now. You could gain some valuable insight.
The measured socioeconomic categories also achieved national historic highs this year. Small disadvantaged businesses received 10.29%, or $51.6 billion, of all small business eligible contracting dollars, the highest percentage since 2015. Service-disabled veteran-owned small businesses received $22 billion (4.39% of all eligible contracting dollars), and women-owned small businesses received $26 billion of eligible contracting dollars, or 5.19%. Historically underutilized business zone small businesses received about $11 billion of all eligible funds, representing 2.28% – the highest achievement in the past six years. Additionally, $90.7 billion, or 33.27% of the total of $272.7 billion was in subcontracting dollars awarded in FY19.
In its efforts to help small businesses secure federal contracts, the SBA and federal agencies, i.e. the ones listed on the SBA Scorecard promote small business programs to procuring federal agencies and small businesses by frequently holding training and outreach sessions with a goal to educate small business who want to contract with the federal government. In fact, I at one time in the past worked directly with a number of different small businesses, one such company achieved nearly $50 million revenue in one year for federal contracts. A lot of hard work proved invaluable.
The individual agency scorecards released by the SBA, provide a detailed explanation of the methodology used to score each agency. This report is available on line at SBA.GOV.
The federal government also exceeded its subcontract goals for awards to small businesses and women-owned small businesses and awarded more than $90 billion in subcontracts to all small businesses.
Again, the annual procurement Scorecard is an assessment tool to: measure how well federal agencies reach their small business and socioeconomic prime contracting and subcontracting goals; provide accurate and transparent contracting data; and report agency-specific progress. The prime and subcontracting component goals include goals for small businesses, small businesses owned by women, small disadvantaged businesses, service-disabled veteran-owned small businesses, and small businesses in HUBZones.
While each federal agency is responsible for ensuring the quality of its own contracting data, the SBA conducts additional analyses to help agencies identify potential data anomalies. As part of its ongoing data quality efforts, the SBA works with federal agency procurement staff to provide analysis and tools to facilitate and implement improvements to procurement systems.
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