ImpactAlpha, Dec. 8 – The U.S. government buys more goods and services than any other purchaser in the world. President Biden has directed federal agencies to increase their spending targets with underserved small businesses, including Black, Latino and other minority-owned businesses, from 5% to 11%.
The administration will also release, for the first time, federal contracting data disaggregated by suppliers’ race and ethnicity to promote transparency.
The move will help the administration increase the share of contracts going to small disadvantaged businesses by 50% by 2025 – a goal Biden announced in Tulsa in June.
