Helping Small Business Compete Act of 2010

Helping Small Business Compete Act of 2010 - Amends the Small Business Act to increase from 23% to 25% the government-wide small business procurement contract goal. Requires the President, before the close of each fiscal year, to establish new goals. Requires each federal agency to have an anuual goal at least equal to the federal goal. Sets forth provisions concerning methods for goal achievement, including requiring procurement training for senior executives and a limitation on incentive awards for failure to meet goals.

Redefines the term: (1) "bundled contract" to mean a contract or order entered into to meet procurement requirements that are consolidated in a bundling of contract requirements, without regard to its designation by the procuring agency or whether a study of the effects of the solicitation on civilian or military personnel has been made; and (2) "bundling of contract requirements" to mean any bundling methodology to satisfy two or more procurement requirements for new or existing goods or services, including any construction services, that is likely to be unsuitable for award to a small business due to the specialized nature of performance, the dollar value of the award, or the geographical dispersion of the contract or order performance. Makes the revised definitions inapplicable for contracts under $65 million for construction services and, for all other types of contracts, under $5 million.

Requires notification to Small Business Administration (SBA) procurement center representatives of identifying information on incumbent contract holders, a description of the industries potentially interested in bidding on the contract requirements, and the number of small businesses listed in the industry categories that could be excluded from future bidding if the contract is bundled.

Allows the SBA Administrator, if there is cause to believe a contract combines requirements or a contract or task or delivery order for construction services or includes unjustified bundling, to request a statement of work for goods and services, and to request that the solicitation process be postponed at least 10 days (but not more than 30) to allow the Administrator to review the statement and make recommendations.

Allows a small business adversely affected by a proposed procurement that includes contract bundling to take specified actions.

Allows the SBA, whenever the head of a contracting agency makes a decision concerning the Administrator's challenge to a bundling of contract requirements, to file a challenge with the appropriate agency board of contract appeals.

Requires the Administrator to promulgate regulations concerning good faith compliance with small business subcontracting plans and requirements.

Provides criminal penalties for violators making false statements in an effort to obtain a federal contract.