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$2 Trillion! That’s how much your small business is being short changed by US government

According to a recent Small Business Trends article, the “United States government agency responsible for supporting entrepreneurs has been accused of short-changing small business owners out of $2 trillion in federal contracts over the last ten years.”

Unfortunately, the Small Business Administration (SBA) is at fault as well. The SBA has been accused of falsifying the government’s “23 percent target compliance by using inaccurate budgeting figures.” In 2015, small businesses should have received $276 billion in federal government contracts.  The American Small Business League (ASBL) is reporting that small businesses only received $40 billion, or less than 15% of possible contracting opportunities.  The ASBL has also accused the SBA of redirecting over a billions dollars to larger companies.

In May, the ASBL filed an injunction against the SBA which required the SBA to give small businesses a larger and proper share of federal procurement. The injunction as of December, 2016, has been tossed out. ASBL president Llyod Chapman released a statement in regards to the injunction stating, “Dismissing the suit frustrates the legitimate rights of small businesses to their proper share of the true scale of government contracting.”

-Ray Hayes

Smallbiztrends

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