The U.S. Small Business Administration Fiscal Year 2022 Small Business Federal Procurement Scorecard shows a record-breaking 26.5% of federal contracting dollars awarded to American small businesses.
This amounts to a $162.9 billion investment in the small business economy – an $8.7 billion increase from the previous fiscal year.
According to data compiled by the SBA, 21.87% of the purchases made by the U.S. government in the Great Lakes Region of Illinois, Indiana, Michigan, Minnesota, Ohio and Wisconsin were from small business owners. Of the $5.9 billion spent on federal contracts in Wisconsin, more than $1 billion, or 17.35% were spent buying products and services from Wisconsin’s small businesses.
This is the second year in a row that federal government contracts awarded to small businesses in Wisconsin have exceeded $1 billion, with the FY21 figures topping $1.1 billion and 18%. Annual contract awards in Wisconsin dating back to at least 2010 did not meet the $1 billion threshold.
“Government contracting is a powerful tool for entrepreneurs to open new and stable revenue streams for their small businesses,” said SBA Wisconsin District Director Eric Ness.
To learn how the SBA Wisconsin District Office can help you achieve small business dreams, visit www.sba.gov/wi.
