The White House has issued new guidance for federal agencies to increase the share of government contracting dollars to small disadvantaged businesses (SDBs) in fiscal year 2023 as part of the administration’s effort to steer $100 billion in new contracting opportunities to minority-owned businesses over the next five years.
The Office of Management and Budget guidance on Tuesday directed agencies and the Small Business Administration to negotiate new contracting goals and to award at least 12% of all federal contract spending to SDBs in FY2023.
“Increasing the share of contract dollars awarded to SDBs is designed to support a more dynamic and resilient supplier base and create opportunities for entities owned by underrepresented individuals,” OMB Director Shalanda Young wrote in the memorandum… Read the full article here.
