What is a Small Business Subcontracting Plan?
A Small Business Subcontracting Plan is required for all federal contracts and subcontract awards over $950,000 total costs. Federal law requires recipients of federal funding over the threshold to commit to spend a percentage of the project costs with specific vendors that qualify under small business categories determined by the Small Business Administration.
Who Qualifies?
The SBSP functions as a Purchasing Plan (not grants) that projects the percentage of costs allocated under an award to small/disadvantaged businesses. Once a SBSP is awarded, the University reports on its compliance with the Plan on a semi-annual basis to the federal government.
UMB, Office of Strategic Sourcing and Acquisition Services is committed to support small businesses of all types to fully participate in the process of spending funds when buying goods and services for federal projects.
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