Information shared at the link below from the SBA about small business awards in FY24 – a $4.6B increase over FY23 and $29B increase from FY21. Some other nuggets of information include:

• 34 million small businesses across America  
• $183 billion in prime contracts from the federal government; 28.8% of all federal contracting dollars vs. 23% small business contracting goal 
• Small, disadvantaged businesses received $78.1 billion, another record again surpassing FY23
• Service-disabled veteran owned small businesses received the highest amount ever at $32.8 billion
• Nearly all categories tracked continued to see a year-over-year increase in federal contracts for goods and services

Despite these positive numbers, it continues to be a challenging environment for small companies as there is a lot of competition and gaining access to new customer stakeholders takes a focused approach. Hopefully FY25 will bring a continued commitment by agencies to make small business contracting a priority.

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