Federal grants can be a huge boost for small businesses. And some federal agencies do better at giving grants to small businesses than others. The Small Business Administration released its annual scorecard measuring how well federal agencies meet their small business contracting goals each year. Overall, the federal government has a goal to award 23% of contracts to small businesses. In fiscal 2023, 28.4% were awarded to small businesses, amounting to $178.6 billion. It’s the third year of exceeding the goal, according to the SBA. The SBA said the contracts support over a million jobs in industries like manufacturing, construction, and technology.
