Friday, February 10, 2012

SBA to Increase Size Standards for Many Small Business Classification

The Small Business Administration (SBA) has increased small business size standards for 37 small business NAICS (North American Industry Classification System) Codes, some of them significantly so; offices of attorneys increased from $7 million to $10 million in sales and offices of certified public accountants increased from $8.5 million to $19 million in sales. These new standards are all receipts based (as opposed to number of employees).

If you have been teetering on the brink between small business and non-small business because of your company sales, you should periodically review SBA's size standards because they do change from time to time. The newly revised standards, which become effective March 12th, can be viewed here.

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