Well, you thought you knew, but the SBA would like to change all that (it’s a proposal…not for certain). Now, before you get your hackles up…I believe what they are doing is a good thing. They are basically getting with the times.
Here’s what the SBA said in their press release:
A proposed rule published today for comment in The Federal Register by the U.S. Small Business Administration would adjust the size definition of small businesses in the transportation and warehousing sector to reflect changes in marketplace conditions in those sectors.
The proposed revisions would increase the revenue-based size definition businesses must meet to qualify as small businesses in 22 industries of the transportation and warehousing sector. As part of its ongoing comprehensive review of all size standards, the SBA evaluated all industries in this sector that have revenue-based size standards to determine whether the size standards should be retained or revised.
So what does this mean for you? Well if you work in the transportation and warehousing sector and you are bidding on government jobs…a lot! Basically, in the past, if you were reaching the size limit…you couldn’t make any more in revenue to retain your eligibility to bid on government jobs (as a small business). Now, you have a bit more wiggle room!
Here’s what the SBA also said:
The changes would allow some small businesses that are close to exceeding their current size standards to retain small business eligibility under higher size standards, give federal agencies a larger selection of small businesses to choose from for small business procurement opportunities and allow small businesses to qualify for financial assistance from the SBA. SBA estimates as many as 1,200 additional firms will become eligible for SBA programs as a result of the proposed revisions, if they are adopted.
Here’s the new data that I prettied up for you!
For more information about SBA’s revisions to its small business size standards, click on “What’s New” on SBA’s Web site at: http://www.sba.gov/size.
Are you breathing a sigh of relief on this proposed change? I am!