Alert: SBA proposed rule on size standard

Alert: SBA issues proposed rule to modify how SBA calculates annual average used to determine size standards for small businesses. It proposes to change the size standard providing for a 5-year averaging period instead of the current 3-year. As a matter of background, in December 2018, the Small Business Runway Extension Act of 2018 became law that amended the Small Business Act to ensure that size standards are calculated using average annual receipts for the previous five years. The Small Business Administration was slow, however, to implement this change. The proposed rule is what the industry has been waiting, however, it leaves unaddressed the transition period Dec. 2018 to present. Comments to the proposed rule must be submitted to SBA on or before August 23, 2019. See 84 FR 121 published on June 24, 2019 for more details

#SBA #SmallBusiness #womenownedbusiness #serviceproviders