The new size standards, which went into effect on February 26, 2016, apply to nearly 300 industries across multiple North American Industry Classification System (NAICS) sectors.
Although the vast majority of the changes result in an increase in the employee-based size standards, the final rule also decreases the size standards for a few mining related NAICS codes. For example, the U.S. Small Business Association (SBA) increased small business size standards for 209 industries in NAICS Sector 31-33, Manufacturing, which the SBA estimates will result in about 1,250 additional firms qualifying as small. The SBA also recently finalized an interim rule published in July 2014 that increased for inflation the monetary-based size standards by 8.73 percent — the only such increase since 2008.
Keep reading this article at: https://www.foley.com/compliance-alert–what-you-should-know-about-the-sbas-new-size-standards-02-18-2016/