The U.S. Government is the world's largest buyer of goods and services. Every year, it reports spending more than $540 billion* on federal acquisition, a federal process known as procurement.To ensure economic justice and to create new jobs, Congress enacted the Small Business Act in 1953, which requires that 23 percent of all federal contracts are awarded to small businesses annualy.This is a landmark piece of economic legislation for the U.S., because small businesses create 90 percent of net new jobs, according to the U.S. Census Bureau.
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