On July 18, 2019, the SBA Administrator posted a notice to the Federal Register announcing changes to the small business size standards to adjust for inflation. Though this is an interim rule, the changes will take effect on August 19, 2019, and will allow small businesses to remain “small” longer. They will also help some companies, which are currently just outside the small-business range, to move back within the range thus making them eligible to compete for small business set-aside contracts if the proposal due date is on or after August 19, 2019.
If you’re an agricultural firm, you’ll be pleased to know that the SBA has increased size standards for agricultural industries. But that’s not all! The NAICS codes relevant to agricultural industries are now included in the SBA’s rolling review for inflation, which occurs every five years. Before this change, the size standards for these NAICS codes were set by statute.
For more information about this interim rule, including the comment period that ends on September 16, 2019, or to review the new size standards table, click here to read the full notice in the Federal Register. If you have questions about the new size standards, whether they impact your business, how to certify your eligibility as a small business, or just want to gain a better understanding of these changes, contact your local PTAC consultant for further guidance.