Business Improvement Act of 1993

Business Improvement Act of 1993 - Amends the Small Business Act to authorize the head of any participating Federal agency (other than the Department of Defense), in order to facilitate the attainment of such agency's goal regarding the participation in procurement contracts of small businesses owned and controlled by socially and economically disadvantaged individuals, to enter into contracts using: (1) less than full and open competition; or (2) a price evaluation preference of up to ten percent for offers received from such qualifying small businesses. Terminates such authority at the end of FY 2000.

Revises the authority of the Administrator of the Small Business Administration (SBA) to continue to award Capital Ownership Development Program (Program) contracts to past Program participants. Eliminates the requirement restricting competition for such contracts to eligible Program participants.

Restricts the competition for the award of a contract to furnish products or services to a participating agency to small businesses owned and controlled by socially and economically disadvantaged individuals if there exists a reasonable expectation of receiving offers from two or more of such small businesses. Requires such small business in turn to subcontract a specified percentage of such contract to small businesses in the development stage of the minority small business and capital development program.

Directs the SBA Administrator to authorize a short-term study for determining the appropriate program participation term by industry sector for qualifying small businesses and to submit study results to specified congressional officers and committees. Suspends temporarily the termination of eligibility for qualified small businesses for participation in the Program until one year after the completion of such study.

Requires compliance with the Buy Indian Act for Federal agencies contracting with the SBA for the acquisition of goods or services supplied by Indian tribes.

Directs the Administrator to establish uniform procedures for contesting the status of a small business concern owned and controlled by socially and economically disadvantaged individuals.