Certain government programs, such as SBA loan programs and contracting opportunities, are reserved for small businesses. In order to qualify, businesses must satisfy SBA’s definition of a small business concern, along with the size standards for small business.
What is a small business size standard?
A size standard, which is usually stated in number of employees or average annual receipts, represents the largest size that a business (including its subsidiaries and affiliates) may be to remain classified as a small business for SBA and federal contracting programs. The definition of “small” varies by industry.
How to calculate your small business size
Size standards are mostly based on the average annual receipts or the average number of employees.
Important Notice: Businesses registered in the System for Award Management (SAM.gov) must update their SAM registration in order to have their small business status updated based on the new size standards that became effective on August 19, 2019. Until the SAM registration is updated, the SAM profiles will continue to display the small business status under the old size standards.
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