Colorado small businesses were the recipient of more than $2.4 billion, or 2.2 percent, of national federal contracting dollars in 2018 “as the federal government exceeded its small business federal contracting goal for the sixth consecutive year,” according to a news release issued by the U.S. Small Business Administration.
“This is great news for Colorado small businesses,” Francis Padilla, director of the SBA’s Colorado District Office, said in the release. “With more than 230 federal agencies in Colorado, small businesses can expand their success by selling goods or services to Uncle Sam and other prime contractors doing business with the federal government.”
The U.S. SBA announced this week that the federal government awarded 25.05 percent in federal contract dollars to small businesses, totaling $120.8 billion, an increase from the previous fiscal year of nearly $15 billion. The Fiscal Year 2018 Small Business Federal Procurement Scorecard marks the first time more than $120 billion in prime contracts has been awarded to small businesses, the release said.
“I’m happy to report that for the first time in history the federal government has awarded more than $120 billion in federal contracts and marked the sixth year in a row exceeding our target milestones for small businesses,” said Acting Administrator Chris Pilkerton, in the release. “Through these businesses, we strengthen the economy, and support the American workforce in the process. For example, the federal prime and subcontract awarded to small businesses in FY18 equate to more than one million jobs created. Every contract that gets in the hands of a small business is a win-win for our nation, the entrepreneurs, their employees and the communities they support all across the country.”
The individual agency scorecards released by the SBA, as well as a detailed explanation of the methodology, is available online.