3 Jan 2025
💼New FAR Rule Incentivizes Puerto Rican Small Businesses in 2025
Federal Acquisition Regulation: Subcontracting to Puerto Rican and Covered Territory Small Businesses
Summary
DoD, GSA, and NASA are issuing a final rule amending the Federal Acquisition Regulation (FAR) to implement regulatory changes made by the Small Business Administration to add incentives for certain United States territories under the Small Business Administration mentor-prot[eacute]g[eacute] program.
Agencies
- Defense Department
- General Services Administration
- National Aeronautics and Space Administration
Business Impact
$$ - Med
The rule implements changes to the Federal Acquisition Regulation (FAR) that incentivize SBA-approved mentor-protégé agreements for small businesses in U.S. territories, potentially increasing contract opportunities and financial benefits for these entities and their partners. Notably, it eases the subcontracting plan requirements for entities treated as small businesses, enhancing regulatory compliance for contractors.