Stay “Small” Longer: Recent Changes Make It Easier for Growing Businesses to Pursue Small Business Contracts from the Federal Government
Foley & Lardner LLP – On June 6, 2022, the Small Business Administration (SBA) issued a Final Rule changing how a company calculates its size under an employee-based size standard. In recent years, the SBA also changed how a business calculates its size under a revenue-based size standard. These changes make it easier for growing companies to retain their small business status longer, enabling them to continue to pursue prime contracts or subcontracting opportunities reserved for small businesses. Below, we summarize the key rules going forward for determining whether a business is “small” for purposes of federal government contracts. Click here to read more.