(Huffington Post) For the first time in a decade, U.S. government contracts with Latino-owned small businesses fell.
According to last year's federal procurement report, contracts to purchase supplies, goods or services from Latino-owned small businesses dropped by $7.89 billion, or 7 percent compared to the prior year. Small firms with African-American owners also faced an 8 percent drop, or $7.12 billion decrease in contract spending last year.
Contact spending with minority-owned business fell at a far faster clip than did total government spending in the private sector. In fact, total contract spending dipped by only 1 percent, The Washington Post reported.
