Sba Feature

12 Feb, 2012

U.S. Small Business Administration Revises Size Standards

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On Monday, March 12th, 2012 the latest U.S. Small Business Administration (SBA) size standard revisions ruling will be effective allowing 8,350 additional professional services firms to obtain small business status, affecting numerous A/E/C Industry companies. The SMPS DC Chapter is dedicated to creating business opportunities and establishing relationships between small and large businesses alike. As a resource to our members we will be posting a listing of our small business members on MySMPS to help you meet your small business utilization goals. If you are a small business and are interested in being included in this list please contact Amanda Sanderson at asanderson@geoconcepts-eng.com

On Friday, February 10th, 2012 the SBA released its final ruling on size standard revisions for Professional, Technical, and Scientific Services (Sector 54) North American Industry Classification System (NAICS) codes. An extensive review of the size standards began in 2007. After evaluating several factors related to the industries the SBA released their proposed size standard revisions on March 16, 2011 for the public to review and provide commentary. The SBA received 1,426 comments which were all taken into consideration when the final ruling was established. Under these revisions about 1.1 percent of the total number of firms in those industries will qualify as small businesses. A listing of the A/E/C industry NAICS codes that were revised is included below. For more information please see SBA’s final ruling published in the Federal Register.

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By: Amanda Sanderson GeoConcepts Engineering, Inc.