May Newsletter

Record Breaking Contracting Year for
Small Disadvantaged Business

President Biden announced record investment in small disadvantaged businesses with a record-breaking $76.2 billion, or 12.1% in federal contracting dollars, going to small disadvantaged businesses (SDBs) in FY 2023. This is the third consecutive year of record-breaking awards to SDBs and represents steady progress toward achieving the President’s goal of awarding 15% of federal contracting dollars to SDBs, including Black, Latino and Asian American-owned small businesses, to 15% by 2025 – or an increase of 50% from 2010.

“The Department of Defense continues to prioritize ways to engage non-traditional suppliers and under-resourced businesses to diversify the Defense Industrial Base and I am pleased to see the government-wide growth in contracts to small disadvantaged businesses,” said Mr. Farooq Mitha Director of the Office of Small Business Programs (OSBP).