Minority small biz got 9.5% of awards in 2020

      Minority-owned small businesses were awarded 9.5% of small business-eligible federal contracts in fiscal 2020, according to new data released by the Small Business Administration.

      It is the first time the SBA has published contract award data focusing on minority-owned small firms. The data is intended as a benchmark to support President Joe Biden’s goal of increasing the Small Disadvantaged Business share of federal contracting to 15% by 2026.

      Here’s what percentage of the $559 billion in small business-eligible contract awards was won by each racial and ethnic group of small business owners:

      In addition, “not-small” business owners were awarded 75% of small-business eligible contracts.

More Information:
SBA Report: https://bit.ly/3EB0cNy

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