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Small Business Administration Proposes New Definitions for Small Business

Type:  Featured News  

The Small Business Administration, a federal government agency, has proposed new definitions for what qualifies as a “small” business for contracted federal government professional services.   Companies that qualify as small businesses are eligible for designated contract opportunities and loan programs.  According to SBA, the proposed changes are expected to make as many as 9,450 additional companies eligible for SBA preferences.  For most engineering-related services, the revenue ceiling is raised to $19 million.  

 

See the TABLE for more details on size standards proposed for engineering and land surveying businesses.  Data classified by NAICS codes.

 

The North American Industry Classification System (NAICS) is the standard used by Federal statistical agencies in classifying business establishments for the purpose of collecting, analyzing, and publishing statistical data related to the U.S. business economy.

 

More information from SBA on categories:  http://www.sba.gov/content/table-small-business-size-standards

 

The proposed rule is open for public comments until May 16, 2011.  Submit comments at:  http://www.sba.gov/content/what%E2%80%99s-new-with-size-standards


 

 

 

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