The pandemic has created a newfound societal appreciation for the small businesses of Main Street. This support of small businesses is exciting to see as is the innovation that businesses are employing to ensure customers and employees can safely support them. In government, this appreciation for small business is not something that started in 2020. It has been a focus since 1988 when Congress enacted the first procurement goal. Part of that focus was because government knew that innovation happens within these smaller, more nimble companies and they wanted to capitalize on the forward thinking.
Small business goals have increased year over year and government is doing their part to keep up. In fact, in 2019 government exceeded its overall small business contracting goals for the seventh consecutive year. Federal agencies awarded 26.5% of total prime contract dollars to small businesses (above the goal of 23%) which equates to nearly $133B.
