Its Veterans Day - how are the veteran owned businesses doing?

Today is Veterans Day, and it feels different - the world has changed, the way we work has changed. However, one thing that has not changed is our gratitude for our veteran's. In federal contracting, it is a privilege to work with veteran owned businesses who bring the same passion and discipline in growing their own businesses.

Total federal contracts awarded in FY 20 YTD is at $607.7B, and as of 11/10/2020, $26.5B was awarded to 12,107 veteran owned businesses - this is less than 5% of the total contracts awarded.  In FY 19 total federal contracts were at $595B with $28.5B awarded to veteran owned businesses. We do expect FY 20 numbers to increase and hopefully exceed FY 19 numbers, once all DoD contracts are awarded. Of the total $26.5B contracts awarded to Veteran owned businesses, $20.9B, or approx. 76% was awarded to 6,405 Service Disabled Veteran Owned companies.

Top Agencies awarding contracts to VOSB

In terms of top agencies, the VA has awarded more than $7B in contracts to veteran owned businesses followed by Navy, Army and the Air Force.  





Source - Fedmine, data as of 11/09/20

The top companies for FY 20 include Four Points Technology, V3Gate and Thundercat Technology with more than $460M in federal contracts awarded! Amazing!!


Top VOSB Companies

Source - Fedmine, data as of 11/09/20

I wanted to analyze the year over year growth of contracts that are awarded, and further analyze them by NAICS codes. No surprise to see that Computer Related Services, Engineering Services and Construction are the top NAICS codes under which contracts are awarded.  

top NAICS Source - Fedmine, data as of 11/10/20

While looking at Federal contract awards we have to consider the contract awards to our veteran owned businesses that are also Women Owned, (WVOSB) and only $1.9B was awarded to 1,151 companies in FY 20.  Heartening to see some amazing WVOSB companies that make the top 10 Women Owned Veteran Owned Businesses in FY 20:

WVOSB - top 10 businesses

Source - Fedmine, data as of 11/09/20

As we move ahead in the coming months and years, I hope to see the contracts awarded to veteran owned businesses grow. Thank you for your service to our country and for helping grow our small businesses.

Posts by Topic

see all
Archisha Mehan

Written by Archisha Mehan