{"id":390007,"date":"2020-11-30T16:51:02","date_gmt":"2020-11-30T21:51:02","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=390007"},"modified":"2020-11-30T16:51:02","modified_gmt":"2020-11-30T21:51:02","slug":"sba-proposes-small-business-size-standard-revisions-in-five-industrial-sectors-change-aimed-at-increasing-eligibility-for-contracting-and-loan-programs","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/sba-proposes-small-business-size-standard-revisions-in-five-industrial-sectors-change-aimed-at-increasing-eligibility-for-contracting-and-loan-programs\/","title":{"rendered":"SBA Proposes Small Business Size Standard Revisions in Five Industrial Sectors; Change Aimed at Increasing Eligibility for Contracting and Loan Programs"},"content":{"rendered":"

\nPublic Comments Due by Jan. 26, 2021
\n<\/h2>\n
\n

Washington, Nov. 30, 2020 (GLOBE NEWSWIRE) — The U.S. Small Business Administration<\/u><\/a> is seeking public comments on a proposed rule<\/u><\/a> that would revise the small business size standards for businesses in five North American Industrial Classification System (NAICS) sectors to increase small business eligibility for SBA\u2019s loan and contracting programs.\u00a0<\/p>\n

Comments can be submitted on this proposed rule on or before Jan. 26, 2021 at www.regulations.gov,<\/u><\/a> using the following RIN number: RIN 3245-AG88. You may also comment by mail to Khem R. Sharma, Chief, Size Standards Division, 409 3rd Street SW, Mail Code 6530, Washington, D.C., 20416.<\/p>\n

The NAICS sectors reviewed in the proposed rule are: Education Services; Health Care and Social Assistance; Arts, Entertainment and Recreation; Accommodation and Food Services; and Other Services.\u00a0 SBA proposes to increase size standards for 70 industries in those sectors. The following table includes the number of industries reviewed and the number of industries with proposed increases in size standards by NAICS sector.<\/p>\n\n\n\n\n\n\n\n\n
\n NAICS Sector<\/strong>\n <\/td>\n\n Sector Name<\/strong>\n <\/td>\n\n No. of Industries Reviewed<\/strong>\n <\/td>\n\n No. of Industries with Increases<\/strong>\n <\/td>\n<\/tr>\n
\n 61<\/b>\n <\/td>\n\n Education Services<\/strong>\n <\/td>\n\n 18<\/strong>\n <\/td>\n\n 14<\/strong>\n <\/td>\n<\/tr>\n
\n 62<\/b>\n <\/td>\n\n Health Care and Social Assistance<\/strong>\n <\/td>\n\n 39<\/strong>\n <\/td>\n\n 18<\/strong>\n <\/td>\n<\/tr>\n
\n 71<\/b>\n <\/td>\n\n Arts, Entertainment and Recreation<\/strong>\n <\/td>\n\n 25<\/strong>\n <\/td>\n\n 11<\/strong>\n <\/td>\n<\/tr>\n
\n 72<\/b>\n <\/td>\n\n Accommodation and Food Services<\/strong>\n <\/td>\n\n 15<\/strong>\n <\/td>\n\n 4<\/strong>\n <\/td>\n<\/tr>\n
\n 81<\/strong>\n <\/td>\n\n Other Services<\/strong>\n <\/td>\n\n 48<\/strong>\n <\/td>\n\n 23<\/strong>\n <\/td>\n<\/tr>\n
\n Total<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 145<\/strong>\n <\/td>\n\n 70<\/strong>\n <\/td>\n<\/tr>\n<\/table>\n

SBA estimates that about 4,700 additional firms in these three sectors will become eligible for SBA\u2019s programs under the revised size standards, if adopted.<\/p>\n

The proposed rule is part of a five-year comprehensive review of small business size standards, as required under the\u00a0Small Business Jobs Act of 2010<\/u><\/a>.\u00a0 The proposed revisions reflect changes in the industry and federal marketplace conditions and SBA\u2019s policy position under the current economic situation due to the COVID-19 pandemic.\u00a0 In response to the pandemic, SBA is retaining current size standards where data suggests that size standards should be lowered.<\/p>\n

As part of the ongoing review of all size standards, SBA considers the structural characteristics of individual industries, including average firm size, the degree of competition, and federal government contracting trends.\u00a0 This ensures that small business size standards reflect current economic conditions in those industries.\u00a0 The proposed revisions to the size standards in these sectors will enable more small businesses to retain their small business status and will provide federal agencies a larger pool of small businesses to choose from for small business procurement opportunities and help eligible small businesses benefit from SBA\u2019s loan programs.<\/p>\n

An SBA-issued White Paper entitled, \u201cSBA\u2019S Size Standards Methodology,\u201d which explains how SBA establishes, reviews and modifies its receipts-based and employee-based small business size standards, can be viewed at\u00a0http:\/\/www.sba.gov\/size.<\/u><\/a><\/p>\n

For more information about SBA\u2019s revisions to its small business size standards, visit \u201cannouncements about updating size standards<\/u><\/a>\u201d at http:\/\/www.sba.gov\/size.<\/u><\/a><\/p>\n

###\u00a0<\/p>\n

\n About the U.S. Small Business Administration<\/strong>\n <\/p>\n

The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit\u00a0https:\/\/www.sba.gov.<\/u><\/a><\/p>\n


\n
\n \n <\/div>\n

\n
Tiffani Clements\r\nUnited States Small Business Administration\r\nTiffani.Clements@sba.gov\r\n<\/pre>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Public Comments Due by Jan. 26, 2021 Washington, Nov. 30, 2020 (GLOBE NEWSWIRE) — The U.S. Small Business Administration is seeking public comments on a proposed rule that would revise the small business size standards for businesses in five North American Industrial Classification System (NAICS) sectors to increase small business eligibility for SBA\u2019s loan and contracting programs.\u00a0 Comments can be submitted on this proposed rule on or before Jan. 26, 2021 at www.regulations.gov, using the following RIN number: RIN 3245-AG88. You may also comment by mail to Khem R. Sharma, Chief, Size Standards Division, 409 3rd Street SW, Mail Code 6530, Washington, D.C., 20416. The NAICS sectors reviewed in the proposed rule are: Education Services; Health Care and Social Assistance; … <\/p>\n
Continue reading “SBA Proposes Small Business Size Standard Revisions  in Five Industrial Sectors; Change Aimed at Increasing Eligibility for Contracting and Loan Programs”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-390007","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSBA Proposes Small Business Size Standard Revisions in Five Industrial Sectors; Change Aimed at Increasing Eligibility for Contracting and Loan Programs - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/sba-proposes-small-business-size-standard-revisions-in-five-industrial-sectors-change-aimed-at-increasing-eligibility-for-contracting-and-loan-programs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBA Proposes Small Business Size Standard Revisions in Five Industrial Sectors; Change Aimed at Increasing Eligibility for Contracting and Loan Programs - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Public Comments Due by Jan. 26, 2021 Washington, Nov. 30, 2020 (GLOBE NEWSWIRE) — The U.S. Small Business Administration is seeking public comments on a proposed rule that would revise the small business size standards for businesses in five North American Industrial Classification System (NAICS) sectors to increase small business eligibility for SBA\u2019s loan and contracting programs.\u00a0 Comments can be submitted on this proposed rule on or before Jan. 26, 2021 at www.regulations.gov, using the following RIN number: RIN 3245-AG88. 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