Maria Contreras-Sweet, administrator at the Small Business Administration, has informed a House committee that the agency launched efforts to address agency operations management issues identified during audits by the SBA Inspector General and Government Accountability Office.
Contreras-Sweet told the House Small Business Committee in a written testimony published Thursday that SBA formed a working group to assess the economic impact of the agency’s programs and a board to develop an enterprise risk management system.
She added the agency invested in cloud and mobile technologies as part of an information technology modernization effort and moved to broaden its employee development programs as well as update contracting and lending processes for the 8(a) Business Development program.
SBA increased its Small Business Investment Company portfolio by about 10 percent to $25 billion during fiscal 2015, according to Contreras-Sweet.
She reported approximately 24.99 percent of all spending on federal contracts awarded over the past fiscal year went to veteran-owned, women-owned and small disadvantaged businesses.