SBA size standards: ‘Small’ gets larger
The Small Business Administration published four new final rules that increase size standards for thousands of small businesses in more than 70 industries.
More than 17,000 previously-ineligible companies will qualify for SBA assistance and federal contract set-asides under the new standards, which go into effect July 22, the SBA said in its Federal Register notices of the rules.
The rule changes affect companies in agriculture, forestry, fishing and hunting (Sector 11); finance and insurance (Sector 52); management (Sector 55); arts, entertainment and recreation (Sector 71); and mining support (subsector 213.
For 25 of the industries affected, the average annual revenue permitted as a small business will be $35.5 million, up from $7 million, according to USAToday.
More information: SBA news release: http://goo.gl/RUcLt
Federal Register notices on SBA Final rules:
Agriculture, etc. http://goo.gl/3nvt3
Arts, etc. http://goo.gl/EN5oE
Finance, etc. http://goo.gl/1RpCP
Mining support. etc. http://goo.gl/JSojF
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