Biden raises SDB procurement goal to 12%; adds loans, grants

     President Biden on Oct. 4 announced several measures to advance racial equity for small business opportunities.

      The changes include setting a 12% goal for federal procurement from Small Disadvantaged Businesses (SDBs) in fiscal 2023, which began on Oct. 1.

      Biden in December 2021 raised the SDB goal to 11%, up from 5%. The administration reached the 11% goal in fiscal 2021, a year earlier than anticipated.

      The SDB goal will be increased year by year to reach 15% by fiscal 2025.

      Other announcements benefiting underserved small businesses included:...more....

     

Biden raises SDB procurement goal to 12%; adds loans, grants

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