NEW SBA BUSINESS SIZE STANDARDS

As of 1 October, new small business size standards are in effect. NAICS 2017 completely replaces the previous 2012 version, although some size standards were previously updated in 2015. Just about all size standards from the 2012 table increased significantly, but some like 561210 are still the same size as 2015 change, $38.5M. Interesting is that these new size standard changes created over 72,000 new small businesses overnight simply by changing size standards. Announcement and link below. The pdf report has comparison of old to new standards beginning on document page 36.

SBA Issues a Final Rule to Adopt NAICS 2017 for Small Business Size Standards The U.S. Small Business Administration (SBA) updates its table of small business standards adopting the U.S. Office of Management and Budget’s (OMB) North American Industry Classification System (NAICS) revision for 2017 (NAICS 2017). NAICS 2017 created 21 new industries by reclassifying, combining, or splitting 29 existing industries under changes made to NAICS in 2012 (NAICS 2012). SBA’s size standards for these 21 new industries result in an increase to size standards for six NAICS 2012 industries and part of one industry, a decrease to size standards for two, a change in the size standards measure from average annual receipts to number of employees for one, and no change in size standards for twenty industries and part of one industry. The updated size standards are effective October 1, 2017. https://www.sba.gov/contracting/getting-started-contractor/make-sure-you-meet-sba-size-standards/whats-new-size-standards