SBA has revised its small business size standards in 16 industrial sectors to expand access to SBA programs for 59,000 small businesses.

The U.S. Small Business Administration (“SBA”) has modified its revenue-based business size standards in 16 NAICS sectors that will increase small business eligibility for SBA federal contracting programs for approximately 59,000 additional businesses.

As a result of the SBA review of the size standards required under the Small Business Jobs Act of 2012, the SBA will increase 229 size standards across 16 sectors.

The SBA estimates the new size standard will create an estimated $1 billion in contracting opportunities for 844 newly qualified small businesses to win awards.

“The publication of these final rules will make 59,000 additional firms eligible for millions of dollars in revenue and business expansion opportunities across a wide range of sectors,” said an SBA spokesperson.

“This expansion is equally important for contracting agencies, as a diverse industrial base helps ensure a healthy supply chain, and in turn, supports our nation’s broader economic base.”

As part of its ongoing review of size standards, the SBA expects additional rulemakings on size standards in Sector 42 (Wholesale Trade), Sector 44-45 (Retail Trade), and Sector 31-33 (Manufacturing) to further expand eligibility for small businesses.

FedBiz Access helps eligible businesses win government contracting by offering research and engagement strategy sessions, as well as marketing packages to government contractors and targeted buyers at the federal, state, and local levels.

FedBiz Access has over 21 years of experience working with companies to help them win business by ensuring their research, engagement strategy, registrations, set-aside certifications, and GSA Multiple Award Schedules are current, complete, and compliant.