Small Business Finance News
SBA Says More Federal Contracts Went To Small Businesses In 2009
Written by Jenna Weiner
Published: 8/30/2010
Small businesses given $96.8 billion in gov't contracts in 2009.
The U.S. Small Business Administration recently announced good news for small business owners about how much money the government has handed out to them.
In a statement, the SBA said that small businesses were given $96.8 billion worth of contracts by the federal government in 2009, which represented an increase of more than $3 billion from the previous year. While spending represented 21.89 percent of the federal budget, it fell short of Congresses' goal of 23 percent.
"There was an increase in both dollars and contracting share for every small business category. This represents real progress, but not enough, we must reaffirm our commitment to ensuring that the 23 percent goal is met and exceeded," SBA Administrator Karen Mills said. She went onto say that more government contracts benefitted everybody and that the increased funds "provid[ed] small businesses with the opportunity to grow and create jobs, and offer innovative services and essential goods to the government at great value to the taxpayers."
The SBA made headlines recently after making emergency loans available to residents in Illinois affected by severe storms and flooding. The SBA said that it would make $2 million available to businesses that had lost equipment as a result of the disaster.
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