Earlier this year, the Small Business Administration (SBA) increased the receipts-based business size standards for 518 industries. These adjustments were made to account for inflation that has occurred since the last adjustment in 2014. The SBA will continue to review size standards every five years, as mandated by the Small Business Jobs Act of 2010.
As a reminder, size standards are the dividing line between small businesses and “other than small businesses.” When you update your entity registration in the System for Award Management (SAM), one of the many things you are attesting to is your company’s size, which determines your eligibility for small business contracting programs.
If your company recently outgrew its status as a small business, you may want to check out the updated size standards, as you may be a small business again. If this is that case for your company, you should update your entity registration in SAM immediately, as your entity registration will continue to display your status under the size standards in place prior to August 19, 2019 until you do so.
If you need help determining your company’s size, or you’d like assistance updating your SAM registration, contact your Procurement Technical Assistance Center.