Small biz buys hit $131B in FY19: BGov

Small biz share only 22%

      In a year of record high federal contract spending, small business procurement is estimated to have reached a high of $131 billion in fiscal 2019, according to a new report from Bloomberg Government (BGov).

      However, the small business share of federal acquisition spending dropped to 22%, down from 25.1% the previous year, BGov reported.

      In related findings, BGov reported:

• The government spent $594 billion on federal contract awards in fiscal 2019, which was a record high.

        Defense contracts comprised $402 billion, while civilian agencies spent $191 billion.

• Other Transaction Authority contract spending increased to $7.5 billion, from $4.4 billion in fiscal 2018.
• Simplified Acquisition Spending lifted slightly to just over $25 billion, from nearly $25 billion last year.

      The Small Business Administration will release official data for small business procurement in fiscal 2019 within several months.

More information:
Bloomberg Government post: https://bit.ly/2NYVB09

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