SBA Revises Size Standards for Utilities and Construction Sectors
SBA Revises Size Standards for Utilities and Construction Sectors The U.S. Small Business Administration (SBA) issued two final rules in the Federal Register today, revising size standards for firms in two North American Industry Classification System (NAICS) sectors, namely, Utilities (Sector 22) and Construction (Sector 23). Size standards define the maximum size a firm can be and still be considered a small business. The revised standards reflect changes in marketplace conditions and public comments that SBA received to its earlier proposed rules. New size standards will enable more businesses in these sectors to obtain or retain small business status; will give federal agencies a larger pool of small businesses from which to choose for their procurement programs; and will make more small businesses eligible for SBA’s loan programs. For industries in Sector 22, Utilities, SBA increased revenue-based size standards for three industries and changed the basis for determining