The Small Business Administration found that only 22.25% or $89.9 billion of total federal contracting dollars were awarded to small businesses in fiscal 2012, Washington Post reports.
J.D. Harrison writes that this is the 12th consecutive year that the federal government failed to reach the US Congress-mandated 23% goal of awarding contracts to small businesses.
However, this year’s numbers increased from fiscal 2011’s 21.65%.
“The administration must make meeting this goal a priority because it’s efficient governance and not just a law that makes small businesses feel good,” said Rep. Sam Graves, House Small Business Committee Chairman.
The SBA report also found that federal agencies were able to meet the 3% goal to award government contracts to businesses owned by service-disabled veterans, the first time since the regulation was established in 1999.
According to the article, the federal government also fell short of its goal for women-owned businesses and firms in economically disadvantaged areas.