SBA updates size standards

The Small Business Administration issued four final rules on March 31 updating small business size standards in 229 industries.

Overall, the changes will result in 54,035 additional firms to be defined as “small” for the purposes of federal contracting, grants and loans.

The updates will take effect May 2.

Here is an overview of the changes:

Final Rule 1 -- 68 NAICS codes affected in Agriculture, Forestry, Fishing, Hunting; Mining, Quarrying, and Oil and Gas Extraction; Utilities; Construction;
Final Rule 2 -- 70 NAICS codes affected in Education Services; Health Care and Social Assistance; Arts, Entertainment and Recreation; Accommodation and Food Services; Other Services;
Final Rule 3 -- 46 NAICS codes affected in Professional, Scientific and Technical Services; Management of Companies and Enterprises; Administrative and Support and Waste Management and Remediation Services; and
Final Rule 4 -- 45 NAICS codes affected in Transportation and Warehousing; Information; Finance and Insurance; Real Estate and Rental and Leasing.

More information:
Final Rule 1: https://bit.ly/3rne6it
Final Rule 2: https://bit.ly/3v9LR89

Final Rule 3: https://bit.ly/36bQvtS

Final Rule 4: https://bit.ly/3uzlzgn
PilieroMazza PLLC’s analysis: https://bit.ly/365s29m

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