KEY TAKEAWAYS

Survey findings indicate a clear opportunity to increase contracting with diverse and small businesses in the public and private sectors:

• Diverse-owned and small businesses have the capacity for contracting: one in three (33%) respondents generates at least $1M in annual revenue and almost half (48%) of the respondents already generate at least 50% of their revenue from contracting.

• Nearly a third (29%) of the diverse and small businesses surveyed compete in “Investing in America” industries: they include engineering and construction, energy and environment, manufacturing, industrial technology, and telecommunications and they have capacity for contracts.

• Small and diverse businesses eager to learn more about opportunities from the Investing in America agenda: Respondents see promise in the Bipartisan Instructure Law, the Inflation Reduction Act (IRA), and the CHIPS and Science Act.

• Diverse businesses say contracting drives their growth strategies: Nearly half (46%) of respondents with $1M+ revenue say that corporate contracting is critical to their growth strategy and one in three respondents says the same about government contracting.

• Intentional engagement and unbundling of contracts are imperative to level the playing field for competition so that diverse-owned businesses can contribute to building robust and resilient supply chains of the future, for diverse-owned businesses to increase their contributions.