NAICS update impacting size standards, WOSB industries

      The recent update to the North American Industry Classification System (NAICS) has resulted in changes to federal small business size standards as well as to the industries in which set-asides for women-owned small businesses (WOSBs) are allowed.

      The Office of Management and Budget adopted the NAICS 2017 group of changes to industry definitions. NAICS 2017 created 21 new industries by reclassifying, combining or splitting 29 existing industries defined under NAICS in 2012.

SBA size standards

      The Small Business Administration issued a final rule to adopt the recent NAICS 2017 update in its size standards for small businesses.

      There was an increase in size for six industries and part of one industry, a decrease in size for two industries; a change to employee-based standard for one industry, and no changes for 20 industries, the SBA said.

      The industries affected include record production and electronic shopping. The full list of industries potentially affected is here: http://goo.gl/u7J5nH.

      The updated size standards became effective Oct. 1.

WOSB & EDWOSB industries

      The SBA published a final rule in the Federal Register to align its WOSB and Economically-Disadvantaged WOSB set-asides with the NAICS 2017 update.

      Overall, there are changes to eight industries in the WOSB program.

      For a full list of the industries eligible for WOSB and EDWOSB set-asides under NAICS 2017 see: https://www.gpo.gov/fdsys/pkg/FR-2017-10-11/pdf/2017-21925.pdf.

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