The Obama Administration hasn't yet released its annual report on the proportion of federal contract dollars awarded to small businesses in the past year, but the American Small Business League predicts that when the document arrives this summer it will misrepresent the facts. Not that the league is accusing the Obama Administration of doing anything its predecessors haven't. It's common practice for big businesses disguised as small ones to be counted among the awardees of federal procurement dollars designated for small business.
Since 1953, the federal government has been mandated to spend 23 percent of the total value of all federal prime contracts with small businesses. But "fraud, abuse, and loopholes in federal policy and implementation result in the majority of federal small business contracts being illegally diverted to large corporations every year," the watchdog group says. The organization estimates that only 10 percent of federal contract dollars were awarded toRead More »from Watchdog group wants truth in small business procurement