12/06/2021
President Biden proposed an ambitious goal in June 2021, to increase the share of contracts going to small, disadvantaged businesses (SDBs) by 50 percent by 2025, a projection of an additional $100 billion over five years.
ICYMI: The administration followed through last week and announced a set of reforms to meet the goals. As proposed by the SBA, the Biden-Harris Administration released disaggregated data of federal contracting spend by race/ethnicity and revised the category management guidance to expand the eligibility of SDBs.
Looking ahead in January 2022, we expect the SBA to announce additional rules to take effect, including a rule to lengthen the period of employee-based size calculations from 12 months to 24 months and a rule that would allow firms to choose between a 5-year or a 3-year average when calculating average annual receipts (AAR).
SBA Administrator Isabella Casillas Guzman is spot on, “An equitable federal procurement strategy that prioritizes small, disadvantaged businesses will help level the playing field and rebuild our economy from the bottom up and the middle out.”
NNPA NEWSWIRE — Achieving President Biden’s new contracting goal will be a giant leap forward and make a big difference for many small businesses and communities across the country, putting an extra $50 billion into the hands of America’s small, disadvantaged businesses over the next five year...