DOD achieves small business contracting goal

The Defense Department this week announced it met its small business contracting goal in fiscal year 2018, marking the fifth consecutive year DOD has reached its target.

The department "awarded 24% of federal contract dollars -- or $72 billion -- to small businesses, an increase of almost $11 billion over the previous year," according to a statement posted on the Pentagon's industrial policy office website. FY-18 "marks the first time the department awarded more than $70 billion in prime contracts to small businesses. The department also awarded $49 billion in subcontracts to small businesses -- a $7 billion increase over FY 2017."

Additionally, DOD prime and subcontracts awarded to small businesses in FY-18 exceeded $120 billion for the first time, according to Scott Baum, acting director of small business programs within the office of industrial policy.

In FY-18, the department exceeded the prime contract goals for small businesses, service-disabled veteran-owned small businesses and small disadvantaged businesses, according to the industrial policy office. "DOD prime contract awards to small businesses represented 59% of all federal contract awards to small businesses. Additionally, the department represented 61% of federal subcontract awards to small businesses and surpassed the subcontract goal for women-owned small businesses."