Oct 4, 2012

Vanessa Payne

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SBA Increases Size Standards in 3 NAICS Sectors; 18,600 Additional Businesses Qualify As Small

The U.S. Small Business Administration (SBA) issued three final rules in the Federal Register, effective Oct. 24, 2012, increasing size standards for firms in three North American Industry Classification System (NAICS) Sectors: Sector 53 – Real Estate and Rental and Leasing; Sector 61 – Educational Services; and  Sector 62 – Health Care and Social Assistance.

New size standards will enable more businesses in these sectors to obtain or retain small business status; will give federal agencies a larger pool of small businesses from which to choose for their procurement programs; and will make more small businesses eligible for SBA’s loan programs. Under the Small Business Jobs Act of 2010, SBA will continue its comprehensive review of all size standards for the next several years. In this round of increases:

• Sector 53 – Real Estate and Rental and Leasing Sector: size standard increased in 21 industries; more than 13,000 additional firms will quality as small. This increase was proposed in the November 15, 2011, Federal Register.
• Sector 61 – Educational Services Sector: size standard increased in 9 industries; more than 1,500 additional firms will quality as small. This increase was proposed in the November 15, 2011, Federal Register.
• Sector 62 – Health Care and Social Assistance Sector: size standard increased in 28 industries; more than 4,100 additional firms will quality as small.

For the latest about SBA’s revisions to small business size standards, click on “What’s New with Size Standards” and see our previous post, on Sectors 54 and 81 size standard updates. See details of the Sectors 53, 61, and 62 updates below.