Nationally, Small Businesses Secured a Record-Breaking $132.9 Billion in Prime Federal Contracts and the Women-Owned Contracting Goal was Met for the Second Time in Scorecard History.
Chicago, (HINA)– The U.S. Small Business Administration’s release of the Fiscal Year 2019 Small Business Federal Procurement Scorecard shows a record-breaking $132.9 billion in prime federal contracts – 26.5% of the federal contracting dollars – were awarded to small businesses, adding one million jobs to the American economy. Here in Illinois, $2,344,288,581 in federal contracts went to area small businesses.
The FY 19 numbers are an increase of nearly $12 billion over FY 18 and mark the seventh consecutive year the federal government exceeded its small business contracting goal. FY 19 also marks the second time that the women-owned small business contracting goal of 5% was met*.
“These record-breaking national numbers are a win-win, as, along with supplying the government with the goods and services needed to operate, they support our nation’s small businesses and entrepreneurs, as well as their employees and local communities,” SBA’s Great Lakes Regional Administrator Rob Scott said. “The accomplishments here in Illinois are a direct result of our efforts to ensure small businesses succeed and especially important now, as our economy recovers from the pandemic-related setbacks.”
The value of a federal contract is illustrated by Chicago’s SYTE Corp.’s success in recent years. In 2019, it most recently secured a $1.5 million federal contract with the U.S. Army Corps of Engineers. Federal contracting has provided a valuable revenue stream to SYTE as the company continues to explore growth opportunities.
“The $2.3 billion that Illinois small businesses secured in federal contracts represented an incredible impact to our economy in FY 19 and supported job creation, innovation and growth,” SBA’s Illinois District Director Robert Steiner said. “Our SBA team and wide network of resource partners are available virtually and by phone to help small business owners navigate the federal contracting process.”
In its efforts to help small businesses secure federal contracts, the SBA promotes its programs to procuring federal agencies and small businesses, frequently holding training sessions across the country to educate contracting officers on the requirements for SBA’s 8(a) Business Development, Historically Underutilized Business Zone, women-owned and service-disabled veteran-owned small business programs. It also works closely with other national and local organizations on contracting outreach.
The SBA continues to collaborate with federal agencies to expand small business opportunities for small business contractors to compete and win federal contracts. The FY 19 Scorecard analyzed the prime contracting and subcontracting performance and other contributing factors, which resulted in an overall “A” grade for the federal government. Eight agencies received A+, 14 received an “A” and two received a “B” grade.
FY2019 Small Business Federal Procurement Scorecard
Individual agency scorecards the SBA released, as well as a detailed explanation of the methodology, are available online.
- In FY19, the federal government exceeded the service-disabled veteran-owned small business and small disadvantaged business goals and the prime contract dollar awards in all small business categories increased from previous years.
- The federal government also exceeded its subcontract goals for awards to small businesses and women-owned small businesses and awarded more than $90 billion in subcontracts to all small businesses.