What's "small" in some small businesses should be redefined so more
companies can take advantage of federal programs, the U.S. Small
Business Administration says.
The proposal, published Wednesday in The Federal Register and
available for public comment, looks to expand the revenue-based size
definition of small businesses in 36 industries.
The changes would allow some 9,450 additional companies close to
exceeding the size threshold for their respective industry keep
small-business status and access to federal assistance programs and
contracts, according to the SBA.
*The definition of "small business" is proposed to change, per the U.S. Small Business Administration.
The SBA is looking to increase the revenue-based size definition of
small businesses, increasing the limit for annual receipts to $7
million. For more information, read this article from The Street.
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