Good news for small businesses: Federal agencies ordered to increase contracting dollars to SDBs
South Carolina small businesses should attain any socioeconomic certifications they qualify for as federal agencies will be increasing contracting dollars to Small Disadvantaged Businesses (SDBs).
Federal agencies recently received a memorandum highlighting President Biden’s Executive Order to advance racial equity and support for underserved communities through the Federal Government.
The memorandum focuses on the President’s goal to increase the number of contracts awarded to SDBs to15% by fiscal year 2025. Businesses falling under SDBs include the following: women-owned small businesses (WOSB), service-disabled veteran owned small businesses (SDVOSBs) and small business contractors in Historically Underutilized Business Zones (HUBZones).
Make an appointment with your PTAC SC counselor if you need assistance in acquiring socioeconomic certifications.
Read Executive Order 13985