Federal Contracting: Major Changes, Major Impact!

Navigating the Evolving Landscape of Federal Contracting

• Increased Demand for Small Business and Disadvantaged Business Contracts In FY2023 SDBs received 12.1% of federal contracts totaling a record $76.2 billion – surpassing the record set by the previous year of $69.9 billion. SDBs are small, disadvantaged businesses. That designation stand-alone based on your SAM.gov profile, and it exists as 8(a) and EDWOSB-certified entities.

 

• Changes to small business size standards mean more medium-sized businesses now qualify as small, creating more opportunities.

 

Focus on Emerging Technologies like AI and Cybersecurity

• There is a growing emphasis on integrating AI technology across government operations and ensuring its security.

 

• By Executive Order, the Federal government is mandated to improve the Nation’s Cybersecurity through Zero Trust architecture. 

The federal contracting landscape has become more focused on equity and emerging technologies - trends that will continue. 

If your business operates within these two sectors, now is the time to develop strategies to capitalize on current opportunities, particularly as the government approaches the end of FY24, and to prepare for future prospects.

Keep thriving!

All the best,

JoAnn Braxton

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