Created on September 18, 2012
|
The U.S. Small Business Administration is seeking comment on two proposed rules published this week in the Federal Register that would revise the small business size definitions for businesses in three North American Industry Classification System (NAICS) Sectors: Agriculture, Forestry, Fishing, and Hunting; Finance and Insurance; and Management of Companies and Enterprises. The proposed revisions reflect changes in marketplace conditions.
The SBA proposed increasing 11 size standards in the Agriculture, Forestry, Fishing and Hunting Sector. Up to 7,500 more firms in this sector would become eligible for SBA loan and federal procurement programs, if adopted.
SBA also proposed increasing 32 revenue-based size standards and 5 asset-based size standards in the Finance and Insurance Sector. In addition, SBA proposed increasing two size standards in the Management of Companies and Enterprises Sector. Lastly, SBA proposed to change how it measures the size of International Trade Financing firms from average assets to average revenues.