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Thursday, June 28, 2012

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 Small Business Act of 1953 mandates that every year the federal government must spend 23 percent of the total value of all federal prime contracts with small business.

- Every year, the U.S. Government reports achieving, or just narrowly missing the 23 percent small business procurement goal. However, the federal data dramatically overstates the true percentage of legitimate small business receiving federal contracts every year, because large and international corporations are included in the federal small business contracting data. This happens because of misguided SBA policies, lack of oversight by the SBA, as well as plain-and-simple fraud.

- Every year, the American Small Business League conducts a report of the Top 100 companies receiving federal small business contracts during a fiscal year, by listing the 100 companies that received the highest total dollar amount of federal small business contracts in that fiscal year.

- We estimate that the federal government diverts more than $100 billion a year in federal small business contracts to large and international corporations and then counts those contract awards to large businesses in annual federal small business procurement reports.

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