SBA Proposes Overhaul to Simplify Small Business Classification

The U.S. Small Business Administration (SBA) proposed a comprehensive overhaul of its small business size standards, modernizing how the federal government defines and classifies small businesses across the United States. Published in a proposed rule, the new standards according only to SBA, would simplify industry categorization and raise applicable size thresholds, allowing small but rapidly growing firms to continue qualifying and adding over 110,000 firms to the 36 million small businesses in America.  

Small businesses, the economic engine of America's growth, are starting and expanding at record rates.  Rule change or no rule change, they will continue to drive America's economy.