SBA proposes new small-business standard
BUSINESS RECORD STAFF Jul 3, 2019 | 2:16 pm
<1 min read time
103 wordsAll Latest News, Economic Development, Retail and BusinessThe U.S. Small Business Administration will accept comments through Aug. 23 on a proposed rule that would change how the agency calculates businesses’ annual average revenues.
The calculations are used to determine if an entity qualifies for small-business assistance. The rule doesn’t affect programs for larger businesses that might get government assistance.
Previously, SBA has averaged three years of revenue figures. That would change to five under the new rule.
You may submit comments at www.regulations.gov through the number RIN 3245-AH16, or by mail at Khem R. Sharma, Chief, Office of Size Standards, 409 3rd Street SW, Mail Code 6530, Washington, D.C. 20416.