Congress Increases the Government-Wide Goal for Awards to Service-Disabled Veteran-Owned Small Businesses

Posted under: MSME
Date: 2023-12-27
Congress Increases the Government-Wide Goal for Awards to Service-Disabled Veteran-Owned Small Businesses

The National Veterans Small Business Coalition (NVSBC) celebrates a significant victory with the signed National Defense Authorization Act (NDAA) for Fiscal Year 2024, which increases the Government-wide goal for awards to Service-Disabled Veteran-Owned Small Businesses (SDVOSB) from three percent to five percent. NVSBC, advocating for this change for years, collaborated with Congress and committees to achieve the milestone. The NDAA not only raises the goal but also prohibits counting awards to self-certified SDVOSBs toward prime and subcontracting goals, addressing a critical certification loophole. The effective date of the five percent goal is upon the President's signing, while the prohibition on self-certified SDVOSBs at the subcontract level is expected to be effective from October 1, 2024. The five percent set-aside policy, recognizing the outstanding performance of Veteran entrepreneurs, is viewed as a smart policy by around 40,000 Veteran-owned firms in the coalition.

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