Important rule change from the SBA

Small businesses should take note that the U.S. Small Business Administration has increased its revenue-based size standard for businesses in the facilities support services industry from $6 million in average annual receipts to $30 million.



The change is significant because it will allow more companies to qualify for small-business assistance and compete as a small business for federal contracts. It came about after numerous requests from small businesses. Company officials argued that an increase in size standards is warranted to reflect the size of federal contracts in the industry and that it would allow them to grow to a size at which they can effectively compete with larger companies.



The U.S. SBA did the right thing in making the change.



“We recognized the potential for growth in this industry and increased the size standard to ensure that small businesses will receive access to capital and their fair share of contracting opportunities,” said SBA Administrator Hector V. Barreto.



Numerous Rhode Island businesses do quite well in securing lucrative federal contracts. Hopefully, others will now take advantage of this change and see if they qualify for the work.



For more information regarding the new size standard, there is a page on the SBA’s Web site, at www.sba.gov/size.

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