Deltek Analysis Shows Federal Spending on Small Biz Cloud Services More Than Doubled in Fiscal 2022

Entering the complex world of government contracting can be difficult for new providers. Small businesses face a unique set of challenges when competing against long established, multi-billion dollar enterprises, but the U.S. government has recognized the capabilities these companies have to offer, and agencies are ramping up their efforts to connect with these entities. A

The federal government awarded a record $162.9 billion, or 26.5 percent of total contracting dollars, to small businesses in fiscal year 2022, an increase of $8.7 billion from the prior year, according to the Small Business Administration. SBA said Tuesday last year’s prime contracting rate surpassed the 23 percent annual target, while small business subcontracting

The Small Business Administration has finalized its rule to increase access and diversify its existing funding program for small businesses and startups in underserved communities. SBA said Monday the new rule will take effect Aug. 17 to modernize the Small Business Investment Company program by introducing an alternative borrowing structure to align with the cash