The Biden-Harris Administration announced record-breaking small business contracting in fiscal year 2024, with service-disabled veteran-owned small businesses (SDVOSBs) receiving a particularly significant boost.
Federal agencies awarded $31.9 billion to SDVOSBs—representing 5% of federal contracting dollars and exceeding the statutory goal. This marks a $3.8 billion increase from the previous year.
The National Defense Authorization Act (NDAA) for Fiscal Year 2024, enacted December 22, 2023, raised the federal SDVOSB contracting goal from 3% to 5%. This was the first increase to this goal since the program's inception.
Prior to this change, the 3% goal had been met every year since FY2012. In FY2022, agencies awarded 4.57% of prime contract dollars and 2.16% of subcontract dollars to SDVOSBs.
New Certification RequirementsThe NDAA 2024 also requires that all veteran-owned firms be certified by the SBA VetCert Program for subcontracting and goal credit purposes. Self-certification is no longer accepted—this change became effective December 22, 2024.
Veterans seeking federal contracts should apply through the SBA's VetCert program at vetcert.sba.gov to verify their VOSB or SDVOSB status.
Top Federal Agencies for Veteran ContractingThe Department of Defense (DoD) is the largest federal buyer and offers significant opportunities for veteran-owned businesses through the SDVOSB program. The DoD maintains specific information about its contracting programs at business.defense.gov.
The Department of Veterans Affairs (VA) also prioritizes veteran-owned businesses through its VA Small Business Programs, with information available at vetbiz.va.gov.
Corporate Opportunities for VeteransBeyond federal contracting, major corporations are expanding their inclusion of veteran-owned businesses:
- Toyota: Added NVBDC (National Veteran Business Development Council) certification to their accepted diverse categories
- IBM: Has recently reoriented supplier diversity to focus on small businesses and veteran-led companies
- Billion Dollar Roundtable: Now accepts certified SDV-DOBEs (Service-Disabled Veteran Disability-Owned Business Enterprises) in their diversity spend calculations
Veteran entrepreneurs should take these steps to access federal and corporate contracts:
- Get SBA VetCert certified through vetcert.sba.gov (required for federal contracts)
- Register in SAM.gov (System for Award Management)
- Consider NVBDC certification for corporate supplier diversity programs
- Obtain your DD-214 and VA disability rating letter (for SDVOSB status)
