The end of year scramble is nothing new for Agencies and their Contracting Officers, however a new amendment to the FAR reduces the burden, while also helping to meetsmall business spending goals.
As of October of FY23, the HUBZone Act is removed from the list of laws inapplicable to contracts and subcontracts at or below the Simplified Acquisition Threshold (SAT) at FAR 13.005. This amendment to the FAR has a direct impact on the Historically
Underutilized Business Zone (HUBZone) Program.
Morgan Primak, IPAK’s Government Liaison says, “As a government contractor who has been HUBZone certified since 2016, IPAK is thrilled that this amendment reduces the burden on procurement agencies, while maximizing opportunities for HUBZones.”
The HUBZone program was established in 1997, and in the last 26 years the Federal Government has struggled to meet its goal of 3% of total spend.