SBA sets goal of 5,000 8(a)s

Number of 8(a) firms fell from 2018-2020

      The Small Business Administration experienced a drop in the number of firms in its 8(a) Business Development Program from fiscal 2018-2020, but 8(a) certifications began rising again in fiscal 2021 and the agency has set goals for 2022 and 2023.

      The target for fiscal 2023 is 5,000 certified 8(a) firms, according to the recently-released “SBA FY2023 Congressional Budget Justification and FY2021 Performance Report.”

      Some 8(a) firms graduate, and new ones are added, each year. SBA began tracking the total number of 8(a) firms in its performance report starting in fiscal 2018. All years are fiscal years.

      The report listed how many new 8(a) applicants were approved each year, starting in 2021, along with goals.

      The SBA, last year, also began reporting the percentage of 8(a) firms that won federal contracts. Goals have been set for 2022 and 2023 as well.

      The report summarized administrative costs of the 8(a) program and requested funds for 2023. The 2022 figure is based on a hypothetical yearlong CR.

More Information:
SBA report: https://bit.ly/37vPEVA

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