National ACE Applauds Biden-Harris Administration Commitments to Increase Racial Equity in Federal Contracting
FOR IMMEDIATE RELEASE
December 2nd, 2021
Contact:
Daniel Oliver (doliver@nationalace.org)
Janet Alikpala (jalikpala@nationalace.org)
National ACE Applauds Biden-Harris Administration Commitments to Increase Racial Equity in Federal Contracting
On December 2nd, 2021 the Biden Harris Administration announced reforms to the federal procurement process to increase the share of federal contracts going to Small Disadvantaged Businesses by 50% by 2025, translating to $100 billion towards Small Disadvantaged Businesses. A Small Disadvantaged Business (SDB) is a small business that is at least 51% owned by one or more individuals who are both socially and economically disadvantaged. Businesses must be certified by the Small Business Administration to qualify for SDB status.
These reforms include an increase from 5% to 11% of governmentwide spending of contracting dollars awarded to SDBs, releasing disaggregated data on federal contracting spending by race/ethnicity, and changes to category management to boost contracting opportunities for SDBs. To learn more about the Administration’s commitments, read the fact sheet here.
National ACE applauds these efforts by the Biden-Harris Administration to get more dollars and contracting opportunities to minority-owned businesses. These investments will create a more even playing field in the contracting space and will help more entrepreneurs grow their businesses. National ACE President and CEO Chiling Tong added, “We are especially happy to learn that the federal government will begin to disaggregate data of federal contracting spending. Accurate data collection has long been a challenge within the AAPI community, and this measure will help us gain a clearer picture of the federal procurement process so that we can have a better understanding of AAPIs seeking and receiving federal contracts.”
The Biden-Harris Administration announced in June 2021 its goal of increasing the share of federal contracts going to Small and Disadvantaged Businesses. To read more about the original announcement, visit the fact sheet the Administration released in June.
See the PDF version here.