New SBA size standards

In effect on Aug. 19

      New monetary-based size standards defining small business concerns will go into effect Aug. 19, reflecting inflation adjustments made by the Small Business Administration.

      The SBA estimates that 90,000 additional businesses nationwide will be defined as “small” under the new standards.

      Each industry has its own size standards. Small firms that fall within the parameters are eligible for federal small business set-aside contracts and loans.

      The current inflation adjustments are relatively substantial, totaling an increase of nearly 8.4% for monetary-based size standards. That percentage is the sum total of inflation that has occurred since the standards were last adjusted for inflation in 2014.

      The SBA issued an interim final rule on July 18 in the Federal Register. Comments are due by Sept. 16 and may be submitted at Regulations.gov, identified with RIN 3245-AH17.

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