The U.S. Small Business Administration has issued four final rules in the Federal Register, increasing the size standards for small businesses in 70 industries, including finance.
The changes affect four North American Industry Classification System sectors and one subsector: agriculture, forestry, fishing and hunting (Sector 11), finance and insurance (Sector 52), management of companies and enterprises (Sector 55), arts, entertainment, and recreation (Sector 71) and support services for mining (Subsector 213). The size standards define the maximum size a firm can be and still be considered a small business. The revised standards reflect changes in marketplace conditions and public comments that SBA received to the proposed rules.
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