SBA Rules Changes – Definition of a Small Business

In the quest to compete and survive, small businesses should embrace all opportunities for revenue growth available to them. One of the largest potential customers in the world is the US Government. Small businesses have a unique opportunity to do business with Uncle Sam because nearly one-quarter of the tens of billions of dollars in government contracts are intended for small business concerns.

In order to take advantage of the opportunity created by US government contracting policy, each small business has to meet government size standards in order to qualify as a “small business”. These size standards are uniquely set for each industry.

The Table of Small Business Size Standards published by the Small Business Administration (“SBA”) sets forth these guidelines.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Robert Freedman - Partner at Tharpe & Howell, LLP | Attorney Advertising

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