The federal community has bemoaned the shrinking small business industrial base for much of the past decade. By one recent estimate, the number of small businesses receiving federal prime contracts in fiscal 2022 dropped by more than half since 2010. But instead of just paying lip service to how important small businesses are — “they are the engine that runs the economy” is a common phrase that it seems like every member of Congress and every Small Business Administration administrator has repeated over the last 10 years — the Biden administration is equipping agencies with two new tools to find potential firms to replenishment the industrial base and compete for federal work. “At a time when applications to start new small businesses in America are at an all-time high, it is imperative that the federal marketplace leverage this small business growth in supply chains that support agency missions, reverse the significant decline of small business participation in the federal supplier base over the last decade, and increase the share of federal contract dollars awarded to small disadvantaged businesses to 15% by 2025, as called for by the President [in a 2021 memo],” wrote Jason Miller, the deputy director for […]
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