DOD’s new Small Biz Strategy aims to expand vendor numbers
As the Defense Dept.’s budget has swelled in the last six years, so has the value of its small business procurements. However, the number of DOD small business vendors has continued to shrink--a pattern that has lasted a decade so far.
Defense Secretary Lloyd J. Austin’s just-released Small Business Strategy aims to attract and serve a larger number of small business contractors to the department with a series of policy and program changes.
DOD small business vendors
According to the strategy, DOD procurements from small firms totaled nearly $80 billion in fiscal 2011, dropped to a low of $55 billion in 2014 during sequestration, and then expanded to reach just over $80 billion in fiscal 2020.
During the same period, the number of small DOD vendors fell from about 43,000 down to 25,000, a 42% reduction...more....
