On Friday, November 13, 2020 SBA published a proposed rule in the Federal Register proposing to revise the small business size definitions for businesses in three North American Industry Classification System (NAICS) Sectors: Professional, Scientific and Technical Services (NAICS 54); Management of Companies and Enterprises (NAICS 55); Administrative and Support and Waste Management and Remediation Services (NAICS 56). The proposed rule is part of the second 5-year rolling comprehensive review of small business size standards, as required under the Small Business Jobs Act of 2010 (Public Law No. 111-240, sect. 1344, September 27, 2010).
SBA proposes to increase size standards for 46 industries in those sectors, including 27 industries in the Professional, Scientific and Technical Services sector, 2 industries in the Management of Companies and Enterprises sector, and 17 industries in the Administrative and Support and Waste Management and Remediation Services sector.
If you would like to submit comments on SBA’s proposed rule, identify them by RIN 3245-AG91 (Small Business Size Standards: Transportation and Warehousing; Information; Finance and Insurance; Real Estate and Rental and Leasing). We recommend that you comment through the Federal eRulemaking Portal: https://www.regulations.gov. Follow the instructions there for submitting comments. The period for comments ends on January 12, 2021.
You may also review the proposed rule together with comments from interested parties by going to https://www.regulations.gov.