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Fortune 500 Companies Are Getting Billions From Federal Small Business Contracts

By Laura Lorenzetti
February 10, 2016

Fortune 500 firms and other large companies swept up billions in federal small business contracts last year, including companies like Apple, Verizon, General Electric, and Boeing.

A total of 151 Fortune 500 firms landed government and small business contracts in 2015, according to an analysis of federal procurement data by the American Small Business League.

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

Small business fund misallocation has long been a problem within the federal government. The Government Accountability Office launched its first investigation into the issue in 2003 and found that over 5,300 large businesses had received contracts meant for small operations. Since then, the issue has continued to capture lawmakers’ and advocates’ attention.

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



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