In a landmark achievement, the U.S. Small Business Administration (SBA) announced it has certified over 17,000 small businesses in FY24, marking a 40% increase from FY23.

This record underscores the Biden-Harris Administration’s commitment to boosting small business participation in federal contracts, focusing on enterprises owned by women, veterans, and disadvantaged groups.

The newly launched MySBA Certifications platform aims to simplify the certification process, enabling small businesses to apply for multiple certifications through a single application. Beyond easing the certification journey, SBA Administrator Isabel Guzman highlighted efforts to broaden contracting opportunities with a proposed change to the "Rule of Two." Traditionally, this rule mandates setting aside certain contracts for small businesses if at least two competitive offers are anticipated. The new proposal would extend this rule to multiple-award contracts, a move expected to generate up to $6 billion annually for small businesses. This expanded rule aligns with the Administration's 23% contracting goal, which was exceeded in FY24, with small firms securing over 28% of prime contracts, translating to a $178.6 billion boost to the small business sector.

These developments represent substantial progress toward a more inclusive federal procurement landscape, empowering small businesses to contribute more robustly to the economy.

This blog post is for informational purposes only and does not guarantee accuracy or serve as legal advice.