The General Services Administration (GSA) announced today that it boosted its Fiscal Year (FY) 2022 goal for small disadvantaged business (SDB) contracting to 21 percent, more than a four-fold increase from the government-wide statutory goal of five percent in FY2021.
“This is an ambitious goal – but ambitious goals are exactly what we need to promote equity and increase small business and SDB participation in the Federal marketplace across all categories,” said Office of Small & Disadvantaged Business Utilization Associate Administrator Exodie C. Roe III, in a press release.
The FY2022 goal, set forth by the Small Business Administration (SBA), advances President Biden’s whole-of-government approach to expanding contracting opportunities for SDBs across the country.
In 2021 Biden signed an Executive Order on Advancing Racial Equity and Support for Underserved Communities, directing agencies to enhance access to Federal contracting opportunities for underserved individuals and communities. The Office of Management and Budget also issued memorandum M-22-03, Advancing Equity in Federal Procurement, which implements an increase to the government-wide SDB Federal contract spend goal to 15 percent by 2025.
“GSA has an impressive track record of meeting and exceeding small business benchmarks,” Roe said. “These achievements are more than just numbers; they represent real opportunities for businesses and communities across the country. We’re grateful for SBA’s partnership as we continue to promote increased opportunities in Federal contracting.”