The U.S. Small Business Administration announced that the federal government exceeded its small business federal contracting goal for the sixth consecutive year, awarding 25.05% in federal contract dollars to small businesses, totaling $120.8 billion — an increase from the previous fiscal year of nearly $15 billion.
In Puerto Rico and the U.S. Virgin Islands, the total reached $914 million, surpassing the 23% goal by more than 53%, Yvette T. Collazo, district director, said.
The “Fiscal Year 2018 Small Business Federal Procurement Scorecard” marks the first time more than $120 billion in prime contracts has been awarded to small businesses. Overall, the federal government earned an “A” on this year’s government-wide scorecard.
The islands of Puerto Rico and the USVI saw women-owned contracts reach $154.6 million, exceeding the mandatory 5% goal with a 12.98% achievement rate.
Similarly, Service-Disabled Veteran-Owned contracts reached $37.4 million, exceeding a goal of 3% percent with a 3.14% achievement. HUBZone contracts reached $99.8 million, surpassing the 3% goal, for an 8.38% achievement rate.
“The SBA is constantly working with other federal agencies to expand small business opportunities in Puerto Rico and the U.S. Virgin Islands. We will always put our strongest efforts forward to ensure that small business contracting dollars for our district continue surpassing the federal government’s goals,” Collazo said.
Meanwhile, SBA Atlantic Regional Administrator Steve Bulger said, “The SBA Atlantic Region takes its mandate to spend 23% of its federal contracting dollars with small businesses very seriously.”
“I’m proud that we have surpassed that goal. Every contract in the hands of small business owners is a win-win situation, creating jobs in local communities and boosting our national and regional economies,” he said.