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IMMEDIATE RELEASE

Release No: 150-95
March 27, 1995

SMALL BUSINESS PROGRAM SETS RECORD IN FY 1994

Secretary of Defense William Perry announced today that in fiscal year 1994 small business firms received $24.8 billion out of a total $112 billion in prime contract awards to U. S. companies. This performance equates to a small business prime contracting achievement of 22.1 percent, which is the highest small business percentage attainment for the Department of Defense in the last 40 years.

Last year also marks the second time in a row the Department has exceeded the five percent goal for prime contract awards to small disadvantaged business concerns. During fiscal year 1994, DoD awarded $6.1 billion to small disadvantaged businesses. This accomplishment represents a 5.5 percent achievement rate that is the highest percentage performance in the history of the DoD small disadvantaged business program.

Secretary Perry further noted that women-owned small business firms received $1.9 billion (1.7 percent) in prime contract awards during FY 94. This attainment sets both a dollar and a percentage performance record for DoD.

The Secretary also reported that major prime contractors awarded $2.3 billion in subcontracts to small disadvantaged businesses in fiscal year 1994. This action represents the highest dollar and percentage of total dollars (5.0 percent) subcontracted to small disadvantaged business companies since the start of the small disadvantaged business subcontracting program in fiscal year 1969.


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