The U.S. Small Business Administration (SBA) is seeking public comments on a proposed rule that would revise the employee-based small business size standards for businesses in nine North American Industrial Classification System (NAICS) sectors. The proposed changes would increase small business eligibility for SBA’s federal contracting and loan programs. Public comments are due by June 27, 2022. See below for more details on how to submit feedback.
The proposed changes in nine sectors will enable more mid-sized businesses to regain small business status and allow current small businesses to retain small business status for a longer period, thereby allowing them to benefit from SBA’s procurement and loan programs. As part of the review of size standards, SBA considers the structural characteristics of individual industries, including average firm size, the degree of competition, and federal government contracting trends.
The proposed rule change is part of the second five-year review of size standards, as required under the Small Business Jobs Act of 2010. SBA proposes to increase 150 employee-based size standards in nine sectors. The table below summarizes the number of size standards reviewed and the number of increases by sector.
Read more here.
Submit Your Comments
Comments may be submitted on this proposed rule on or before June 27, 2022, at www.regulations.gov, using the following RIN number: RIN 3245-AH09.You may also send comments by mail to Khem R. Sharma, Chief, Office of Size Standards, 409 3rd Street SW, Mail Code 6530, Washington, D.C., 20416.
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