SBA Seeks to Increase Business Size Standards
The Small Business Administration has issued a proposal that would adjust the size definition of small businesses in professional, scientific, technical and other services sectors.
The proposed revisions would increase the revenue-based size definition that businesses need to meet in order to qualify as small businesses. The SBA said it evaluated 46 industries and three sub-industries in several sectors. Of these, the agency proposed to increase size standards for 36 industries and one sub-industry and retain current standards for the remaining 10 industries and two sub-industries. SBA’s size standards vary from industry to industry to account for differences among them, according to the agency.
The changes would allow some small businesses that are close to exceeding their current size standards to retain small business eligibility under higher size standards, giving federal agencies a larger selection of small businesses to choose from for small business procurement opportunities, the SBA said. The agency estimates as many as 9,450 additional firms will become eligible for SBA programs as a result of the proposed revisions, if they are adopted. Comments can be submitted on the proposed rule by May 16 at http://www.regulations.gov.