The Office of Management and Budget (OMB) released guidance on December 2, 2021, implementing Executive Order 13985, “Advancing Racial Equity and Support for Underserved Communities through the Federal Government” (EO). The EO directs agencies to readily make available federal contracting opportunities to all eligible vendors and to remove barriers preventing underserved individuals and communities from entering into procurement opportunities.
Additionally, President Biden has set a goal to increase the share of contracts awarded to small, disadvantaged businesses (SDBs) to 15% by 2025. Below are five actions all federal agencies are instructed to take to help increase spending to government contractors in underserved communities. Small businesses should be attentive to how these actions will result in new opportunities for them in 2022.
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