SBA Increases Business Size Standards for 40 Industries
The Small Business Administration changed its business size standards for 199 industries, effective Oct. 1, to implement the Office of Management and Budget’s 2012 modifications of the North American Industry Classification System (NAICS), it said in an interim final rule…
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set for publication in the Federal Register on Aug. 20. 179 of these industries are in the manufacturing sector. The large majority of the changes involve renumbering and/or redefining NAICS 2007 codes in NAICS 2012 without warranting changes to their size standards, SBA said, but the adoption of classification updates will result in increases in business size standards for 40 industries, 36 of which are in the manufacturing sector. Comments on the interim rule are due by Oct. 19.