On Monday of this week (Dec. 17, 2018), the president signed the “Small Business Runway Extension Act of 2018” into law. The new law changes the basis on which a business determines whether or not it meets the federal definition of a “small business.”
Our friends at Koprince Law, LLC have published two articles about this change, providing details on how the size status under revenue-based NAICS codes will now be calculated using a five-year average instead of the longstanding three-year average.
As they point out, for some contractors, the new law is great news, as it will allow them to stay small longer. For others, the opposite is true: the law could force those companies to stay large longer, or even change their self-certifications from “small” to “other than small” in SAM.
Read their articles here: