SBA changes small biz sizes in 5 more sectors

      The SBA published a proposed rule that would expand small business size standards allowing approximately 4,700 more businesses to be classified as “small.”

      The changes would increase eligibility for SBA programs for five NAICS sectors and 70 NAICS industries. The affected sectors and industries are:

• Education Services, 17 industries;
• Health Care and Social Assistance, 18 industries;
• Arts, Entertainment and Recreation, 11 industries;
• Accommodation and Food Services, 4 industries; and
• Other Services, 23 industries.

      Comments are due by Jan. 26, 2021.

      SBA said in a news release that the proposed revisions are part of a regular five-year review but also reflect “SBA’s policy position under the current economic situation due to the COVID-19 pandemic.”

More information:
SBA release: https://bit.ly/3osObSy
Regulations.gov notice: https://bit.ly/3mX3T85

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