The U.S. Small Business Administration wants to adjust the size definition of small businesses in the transportation and warehousing sector.
The SBA says raising the revenue limits to qualify as a small business reflects changes in the marketplace in the transportation and warehousing sector. The suggested change will affect 22 industries in that economic sector.
The SBA evaluated all industries that have standards based on revenue to determine whether those standards should be revised. The last overall revenue occurred 25 years ago, according to the administration.
The changes would allow some small businesses that are close to exceeding their current standards to retain small-business eligibility, as well as give federal agencies a larger selection to choose from for government contracts. More small business will qualify for financial assistance from the SBA.
About 1,200 additional firms will become eligible for SBA programs if the revisions are adopted.
Comments on the proposed rule are due July 13. Comment online at www.regulations.gov. The web site also has a list of affected industries and their current and proposed revenue limits.