WASHINGTON, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Today, Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s more than 34 million small businesses, announced a single-year record for federal contracting certifications for FY24, in which the SBA certified more than 17,000 small businesses—a nearly 40 percent increase over FY23, across its certification programs for women, veterans, socially and economically disadvantaged businesses, and HUBZones. Further, the SBA also announced that its new MySBA Certifications online platform is live and accepting applications. The announcement comes as the Administrator proposes a new procurement rule to further supercharge small business participation in government contracting by expanding the number of small business set aside opportunities. The proposed rule, "Small Business Contracting: Increasing Small Business Participation on Multiple Awards," expands the ‘Rule of Two’ to multiple-award contracts.
“Under the Biden-Harris Administration, the SBA has taken bold action to ensure that more small businesses than ever before can compete for and win valuable government contracts,” said SBA Administrator Guzman. “To increase opportunities for America’s small business owners, the SBA has rolled out MySBA Certifications, a streamlined technology tool that makes it easier for entrepreneurs to apply for multiple certifications with a single application. However, we don’t just want to certify more firms – we want those firms to have more contracts to pursue. That's why we’re also proud to announce our proposed increase of small business set aside opportunities with a potential expansion of the ‘Rule of Two’ to multiple award contracts. All of these actions help further the SBA’s mission of driving competition, innovation, and opportunity in federal contracting.”
During the Biden-Harris Administration, the SBA has consistently exceeded its government-wide contracting goal and is projected to again exceed the 23% goal with over 28% awarded to small firms in FY24. In FY23, 28% of prime contracts went to small businesses, representing a $178.6 billion investment in the small business economy – an increase of $15.7 billion from FY22 fiscal year and a new all-time high.
Since taking office, President Biden and Vice President Harris have proudly championed the federal government’s record-high level of small business contracts, especially those owned by veterans and individuals who have traditionally been disadvantaged. Under President Biden’s Investing in America Agenda, the SBA has worked tirelessly to fuel the nation’s economy by leveling the playing field for entrepreneurs of all backgrounds and ensuring fair competition in federal contracting. With the newly announced MySBA Certifications platform, the already-growing number of certifications is expected to increase further, thanks to the overall improvements to the customer experience embedded within the platform.
Currently, per the SBA's existing ‘Rule of Two,’ government agencies must set aside a contract for small businesses when there are two or more small businesses expected to submit offers at reasonable prices. Today’s new rule proposal would apply the ‘Rule of Two’ to multiple award contracts, which are becoming more prevalent in federal procurement. The SBA estimates that full implementation could increase contracting with small businesses by up to $6 billion annually.
Small businesses and other interested parties may submit comments on the proposed ‘Rule of Two’ during the next 60 days using regulations.gov. The SBA will review those public comments before finalizing the rule. For further information please contact Donna Fudge, Lead Procurement Policy Analyst in the SBA’s Office of Policy Planning and Liaison, at donna.fudge@sba.gov.
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About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. Learn more at www.sba.gov.
