Treasury Notes

 Meeting, and Exceeding, Our Small Business Procurement Goals in FY 2012

By: Nani Coloretti

At Treasury, supporting America’s small businesses is at the heart of our mission to promote conditions that enable economic growth. This not only includes Treasury’s role as the administrator of programs like the Small Business Lending Fund, the State Small Business Credit Initiative, and the CDFI Fund, but also means practicing what we preach by supporting small businesses through our own agency procurement and contracting practices.

That’s why we’re so excited about the high marks Treasury received in this year’s Small Business Procurement Scorecard. The annual report, released this morning by the Small Business Administration (SBA), assesses the progress made in prime contracting and subcontracting to small businesses by 24 federal government agencies. The Scorecard also measures the ways these agencies are focusing on small business opportunities as an integral part of their acquisition of goods and services to meet mission objectives.

In fiscal year 2012, Treasury and its bureaus garnered an A+ grade, scoring 123.03 percent on its small business procurement scorecard. This included exceeding our goal for small businesses overall (38.55 percent of total small business eligible contracting dollars), small disadvantaged businesses (14.74 percent), women-owned small businesses (13.23 percent) and service disabled veteran-owned small businesses (4.15 percent), and HUBZone small businesses (4.65 percent).

Treasury’s success is part of the Obama Administration’s broader effort to provide small business owners a wind at their back, enabling them to grow and create jobs. The scorecard shows that the overall federal government increased the amount of federal small business-eligible contracting dollars going to small businesses to 22.25 percent in FY2012 compared to 21.65 percent in FY2011. Treasury’s effort translates into tangible support to small businesses, as every 1 percent procured is worth over $23 million in funding for America’s small businesses. According to SBA, small businesses accounted for 64 percent of all new jobs created between 1993 and 2011.

Nani Coloretti is the Assistant Secretary for Management at the U.S. Department of the Treasury.
Posted in:  Management and Budget
Bookmark and Share