NEW YORK (AP) — Federal grants could be a big boost for small businesses. Additionally, some federal agencies are better at making grants to small businesses than others.
The Small Business Administration has released an annual scorecard that measures how well federal agencies meet small business contracting goals each year.
Overall, the federal government has a goal of awarding 23% of contracts to small and medium-sized businesses. In 2023, 28.4% of contracts were awarded to small and medium-sized enterprises, amounting to $178.6 billion. According to the SBA, this is the third year the goal has been exceeded.
The SBA said the deal will support more than 1 million jobs in industries such as manufacturing, construction and technology.
“Through President Biden’s investment policy in America, we support efforts to revitalize the U.S. economy, ensure competition and a level playing field, and ensure small businesses have access to historic levels of investment through federal contracts. ” said SBA Secretary Isabel Casillas Guzmán.
Ten federal agencies earned an “A+” rating on the annual scorecard. These include 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 received the lowest grade of “B”: the Environmental Protection Agency and the Department of Health and Human Services.
For more information, please visit www.sba.gov/agency-scorecards.
