SBA St. Louis District Office reposted this
Government contracts can be game-changing for small businesses. Understanding the procurement process, leveraging set-aside programs, and building strong relationships with procurement officers are key to success. Discover how your small business can thrive in government contracting: https://bit.ly/3wJAzfv Federal News Network #GovernmentContracting #Procurement #KeysToSuccess
Federal Government Contracts Educator | Federal Government Contracts Speaker, Blogger & Author | Small Business Advocate | Tribal Business Board Member | Nonprofit Board Member & Volunteer
1w“Set-asides for small businesses account for 23% of government contract dollars.” This is a frequently-cited but erroneous stat and confuses the government’s goal with one of the vehicles used to achieve the goal. The government’s goal is to award at least 23 percent of prime contract dollars to small businesses, but this doesn’t mean that 23 percent of dollars are awarded via set-asides. The government counts a dollar toward the goal no matter how it is awarded: set-aside, sole source, or open competition. (It also double-counts and triple-counts certain dollars, but that’s another story). According to the SBA Data HUB, about 15 percent of dollars awarded in FY 2023 were through set-asides.