NEW YORK – Federal grants can be a huge boost for small businesses. And some federal agencies do better at giving grants to small businesses than others.
The Small Business Administration released its annual scorecard measuring how well federal agencies meet their small business contracting goals each year.
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Overall, the federal government has a goal to award 23% of contracts to small businesses. In fiscal 2023, 28.4% of contracts were awarded to small businesses, amounting to $178.6 billion. It's the third year of exceeding the goal, according to the SBA.
The SBA said the contracts support over a million jobs in industries like manufacturing, construction, and technology.
“Through President Biden’s Investing in America agenda, we have championed initiatives to fuel the nation’s economy – ensuring competition and a level playing field so that small businesses can access the historic level of investments through federal contracting,” said SBA Administrator Isabel Casillas Guzman.
Ten federal agencies received ‘A+’ grades on the annual scorecard. Those included: the SBA, Department of Agriculture, Department of Housing and Urban Development, Department of the Interior, Department of Homeland Security, National Science Foundation, General Services Administration, Department of Commerce, Nuclear Regulatory Commission, and Office of Personnel Management.
Two agencies that received a ‘B,’ the lowest grade awarded: the Environmental Protection Agency and the Department of Health and Human Services.
More information can be found at www.sba.gov/agency-scorecards.