SBA: Colorado business paid $2.6 million for federal contracts

More than 2,900 small businesses in Colorado were paid a total of more than $2.6 billion for contacts as the federal government exceeded its small business contracting goal for the seventh consecutive year.

“Colorado businesses continue to find opportunities to grow by providing key services and support to the largest purchaser in the U.S., the federal government,” said Frances Padilla, director of the U.S. Small Business Administration Colorado District Office. “With our state having a presence of hundreds of federal agencies, our small firms have a key advantage to sell goods and services directly to Uncle Sam or to work with prime contractors on federal contracts. We continue to be encouraged by the growing trend line of successful awards to Colorado small businesses doing great work on behalf of the country.”

According to the SBA, 26.5 percent of federal contracts went to small businesses during the 2019 fiscal year. The federal government awarded $132.9 billion in prime contracts to small businesses and $90.7 billion in subcontracts. The government also exceeded goals for contracts awarded to businesses owned by women and service-disabled veterans.

The federal government earned an A on the latest small business procurement scorecard.

“The federal prime and subcontracts awarded to small businesses in FY19 equate to more than 1 million jobs created,” said SBA Administrator Jovita Carranza. “Every contract that gets in the hands of a small business is a win-win for our nation, entrepreneurs and their employees, and the communities they support. This is especially important now, as our economy recovers from the pandemic-related setbacks.”