Six years of reaching any goal is a reason for celebration. In marital affairs, the sixth anniversary calls for gifts of iron- a symbol of strength. And this occasion is no exception! The SBA has reached its goals in supplying funds to small businesses for the sixth consecutive year.
Goals signify a striving for greatness
Goals are what keep us going; and when met, goals boost us on for continued success. In terms of the SBA, a government agency for small businesses- when they succeed, we all do!
A Group Effort
In terms of numbers, the SBA provides its statistics. And the results are clear to see! Their desire to support local businesses has been realized due to an iron-clad plan (get it... iron…) that designates appropriate funds to deserving people. Because at the end of the day, that’s what the SBA is all about- changing lives by creating opportunity! It is exciting stuff! Through this initiative, the SBA has provided funding totaling $120.8 billion. This dollar amount matches their percentage goal of 23% for prime contracts to small business, and, in the fiscal year of 2018, the SBA exceeded that goal to an astounding 25.05% in federal contract dollars. An increase of $15 billion!
Record-breaking is the fact that this is the first time more than $120 billion in prime contracts has been awarded to small businesses! Talk about #goals
So, if you’re keeping track (and trust us, they do) the Federal Government gets a big fat “A” for the fiscal year of 2018. For more information on the specifics and logistics of the government scorecard system click here.
What does it all mean?
It means jobs. Lots of jobs. One million jobs have been generated across our country this past year due to the funding of small businesses. This improves our economy and our communities!
The SBA specifically singles out areas under the small business umbrella, searching out deserving but often overlooked candidates to fund. These include minorities, service-disabled veterans, women-owned businesses, businesses in less-desirable economic areas and disadvantaged businesses (meaning that at least 51% is owned and operated by a socially or economically disadvantaged person). This impartiality gives everyone a running chance.
Champion of Hope
The SBA is a pillar of hope and opportunity. Its purpose and mission is: to aid, counsel, assist and protect the interests of small business concerns. This includes preserving free competitive enterprise and maintaining and strengthening the overall economy of our nation.
You can’t ever be reminded too much of what they do and why their astronomical success is so worthy of recognition and celebration.
Hope and confidence are so far and few between that it is refreshing to hear such a positive report, especially in the business field. With that in mind may we all take a deep breath and look forward to another successful year of financial bliss thanks in part to the SBA and all the hardworking small business owners and employees alike that remind us that dreams, when followed up by Goals, can become a reality!
Sba mission statement https://www.sba.gov/about-sba/organization
Small business procurement scorecard https://www.sba.gov/document/support--small-business-procurement-scorecard-overview