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.
FILE - A shop holds a sidewalk sale on Feb. 10, 2023, in Providence, R.I. NEW YORK — Federal grants can be a huge boost for small business es. And some federal agencies do better at giving grants to small business es than others.
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. “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.
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