The policy of the United States, as stated in the Small Business Act, is that each agency shall have an annual goal that represents, for that agency, the maximum practicable opportunity for small business concerns, small business concerns owned and controlled by service disabled veterans, qualified HUBZone small business concerns, small business concerns owned and controlled by socially and economically disadvantaged individuals, and small business concerns owned and controlled by women to participate in the performance of contracts let by that agency.
The SBA's responsibility under the Small Business Act is to ensure that the Government-wide goal for participation of small business concerns be established at not less than 23 percent of the total value of all prime contract awards for each fiscal year. The Small Disadvantaged Business (SDB) and Women-owned Small Business (WOSB) goals are also required to be established at not less than five percent.
The Government-wide goal for participation by small business concerns owned and controlled by service-disabled veterans shall be established at not less than three percent of the total value of all prime contracts and subcontract awards for each fiscal year. The Government-wide goal for participation by qualified HUBZone small business concerns is three percent for FY2003 and each year thereafter.
The SBA has the responsibility to ensure that agencies. goals, in the aggregate, meet the Government-wide goals established the Act. This can only be achieved when SBA has received all the Federal agencies proposed goals to statistically calculate that we can achieve the government-wide statutorily mandated goals.
Information courtesy of the Small Business Administration.
