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.