On March 31, 2022, the Small Enterprise Administration issued a number of Closing Guidelines, as a part of the continuing effort to replace the Small Enterprise Size Standards for many industries.
The SBA dimension requirements are essential – companies that qualify as “small” beneath these dimension requirements can acquire entry to many further alternatives put aside for small companies. The scale requirements are additionally essential for companies trying to qualify for Deprived Enterprise Enterprise (DBE) certification. To be a DBE, you will need to meet the SBA dimension requirements for your main business code (i.e. your NAICS code).
One of many extra notable will increase is for Engineering Companies (NAICS 541330) which elevated from $16.5 million to $22.5 million. This can be a welcome improve for engineering corporations that look to profit from the infrastructure spending.
Need to examine to see in case your NAICS code was one which had a change? Confer with the hyperlinks beneath, as probably the most up-to-date desk of all NAICS codes (within the Code of Federal Laws) doesn’t but embrace this new data. Please additionally understand that the tables offered on the SBA’s web site haven’t been up to date since 2019 and don’t have probably the most up-to-date data.
Hyperlinks to the 4 Closing Guidelines issued on March 31, 2022 and efficient Could 2, 2022: