Fortune 500 Companies Are Getting Billions From Federal Small Business Contracts

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Fortune 500 Companies Are Getting Billions From Federal Small Business Contracts

By Laura Lorenzetti
Fortune
February 10, 2016

Fortune500 firms and other large companies swept up billions in federal small businesscontracts last year, including companies like Apple, Verizon, General Electric,and Boeing.

Atotal of 151 Fortune 500 firms landed government and small business contractsin 2015, according to an analysis offederal procurement data by the American Small Business League.

VerizonVZ 1.46% , No. 15 on the Fortune 500 list,brought in over $108 million in small business contracts through theirsubsidiary Terremark, the report found. Meanwhile, Apple AAPL 0.31% (No. 5 on the Fortune 500) pulledin over $640,000, General Electric GE 2.95% (No. 8) receivedover $883,000, and Boeing BA 0.18% (No. 27) got nearly$986,000.

Smallbusiness fund misallocation has long been a problem within the federalgovernment. The Government Accountability Office launched its firstinvestigation into the issue in 2003 and found that over 5,300 large businesseshad received contracts meant for small operations. Since then, the issue hascontinued to capturelawmakers' and advocates' attention.

Toview full article, click here: http://fortune.com/2016/02/10/small-business-contract-problems/


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