Programs Benefiting Small Business Reauthorized
Small businesses that conduct research for the government can breathe easy. Last week the Small Business Innovation Research Program and the Small Business Technology Transfer Program, which decree federal agencies reserve a portion of their research budget for U.S. businesses, were up for expiration. Not only were the two programs reauthorized, but they were also revised and made even more beneficial for small business.
Previously agencies with budgets up to $100 million had to designate 2.5% of their budget for small business, they are now required to give 3.2% to small business. In addition agencies with budgets up to $1 billion used to have to dedicate .03% of budget to small business, but now the percentage has been increased to .045%.
Some are pleasantly surprised that Congress reauthorized the programs. Daniel Faraci, director of Government Affairs at the Alliance for Affordable Services, said there was a “definite nervousness.” He also said that he was impressed with the, “rare act of bipartisanship,” that Congress exhibited when approving programs.
Small research firms were on edge last week hoping that Congress would reauthorize the Small Business Innovation Research Program and the Small Business Technology Transfer Program. Not only are federal agencies still mandated to give a percentage of their research budget to small businesses, but the percentage has been raised. Do you think the government is doing a good job of supporting small business?