2011 was a tough year for small and minority buisnesses, especially for “Minorities”. The Washington Post Bloomberg Report shows a decrease in spending by 8 percent for Black owned companies and 7 percent for Hispanic owned companies.
These changes total a decrease of over 15 billion dollars between these two segments of small business contract awards.
Asian, Pacific Islander and Native American owned companies saw an increase of 6 percent. The big winners are the small disadvantage set aside contracts. These awards total over 34 billion dollars exceeding the government’s target of 5 percent by 3 percent. This business sector recieved 8 percent of the 433 billion dollar budgeted for procurement.
For small and minority buisnesses, that still equates to a business loss of 6 percent for contract awards during 2011.