Opinions expressed by Entrepreneur contributors are their own.
What happened to the SBA? Over the past several years, theSBA's budget, staff and employee morale have been cut in half.Investigations by the SBA's Office of Advocacy and the Officeof Government Accountability found that billions in federalcontracts awarded to some of the largest corporations in the worldwere reported as small-business awards. A report by the Office ofAdvocacy found that the SBA had completely failed to ensure thatbundled contracts were broken up to give legitimate smallbusinesses their fair share.
How did an agency established to assist small businesses come tothis? Somewhere along the way, the true mission of the SBA washijacked by bureaucrats and politicians. Now the future of the SBAis in jeopardy, as more information comes out that major defensecontractors like Northrop-Grumman and General Dynamics are theactual recipients of billions in federal small-businesscontracts.
How can the SBA recover? Restore the budget and staff. Eliminatepolicies and regulations that have allowed Fortune 1000 firms to beconsidered small businesses. And prosecute fraudulent firms.
The rest of this article is locked.
Join Entrepreneur+ today for access.
Already have an account? Sign In