From: U.S. Department of the Treasury <subscriptions@subscriptions.treas.gov>
Date: Wed, May 14, 2014 at 12:49 PM
Subject: Treasury Continues To Exceed Its Small Business Goals
To: iammejtm@gmail.com
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Over the past few years, Treasury has built a sterling record of awarding contracts to small businesses. In FY 2011 and FY 2012, the department earned an A+ rating from the annual Small Business Administration procurement scorecard, and the number of contracts awarded to small businesses has continued to grow. According to preliminary FY 2013 data, Treasury awarded 39 percent of eligible contracts to small businesses, exceeding SBA's contracting goal of 32 percent, Treasury's internal stretch goal of 35 percent, and the FY 2012 performance. The Obama Administration shares that commitment to small businesses. While highlighting the crucial role that small businesses play, and marking National Small Business Week, the President said, "Our small businesses represent what is best about America – that with hard work and ingenuity, anyone – no matter their background – can build a better future for themselves and their families." It is critical to understand that the SBA's prime and subcontracting component goals include goals for overall small businesses, women-owned small businesses, small disadvantaged businesses, service-disabled veteran-owned small businesses, and small businesses located in Historically Underutilized Business Zones (HUBZones). That is just one of the many reasons why Treasury has had a long-standing commitment to diversity in its business activities, implemented primarily through the small business program efforts. Concentrating on small business contracting has also helped the department meet the Dodd-Frank Act's contractor diversity mandates. The preliminary data show that Treasury's contract performance was triple the goal for small disadvantaged businesses, and double the goal for women-owned small businesses. Further, in FY 2013, $53 million, or 21 percent, of all Departmental Offices contracts went to small minority-owned and small women-owned businesses, a $10 million increase over the previous fiscal year. Despite this progress, we know that there is more Treasury can do to build on its already impressive record for small businesses. We will continue to encourage firms that provide products within the categories of contracts awarded by Treasury to market their capabilities to Treasury and our bureaus. And Treasury will expand and improve upon its efforts to target women and minority owned small businesses and educate them on the opportunities to do business with the department. National Small Business Week is an important time to think about how the department can do more to help small businesses that create jobs and strengthen our economy, and Treasury will continue striving to exceed our small business goals for a fourth consecutive year. Click here if you are small business interested in doing business with the Treasury or any of its bureaus.
Dr. Lorraine Cole is the Director in the Office of Minority and Women Inclusion at the United States Department of the Treasury.
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Jeremy Tobias Matthews
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