SmallBusinessThe Small Business Administration (SBA) has announced that, effective July 14th 2014, they will be implementing new size standards. Although they have implemented a few changes in size standards over the past few years, this will be the first large update to size standards since 2008.

Size standards are determined per North American Industry Classification System (NAICS) and each NAICS establishes a size standard based on either average number of employees or average annual receipts. The SBA has indicated that the adjustments will take place in order to account for inflation that has occurred since 2008.

These updates will give Federal Agencies a larger pool of Government Contractors to pull from when creating a bid for a Small Business set aside; it will also help them meet their Small Business goals more easily. On the flip side however, it will also increase competition for these Small Business set-aside contracts as some large businesses will be recertified as small.

Although the changes will take effect on July 14th, the Government has opened up a comment period to receive feedback from industry on these new size standards until August 11th. If you would like to provide feedback, either positive or negative, check out the Regulations.Gov website and click “Comment Now.”

See the list of NAICS that are being updated. This link also shows the current size standard and the new size standard.

Pin It on Pinterest

Share This