Our small business has been approached by a large business who wants to take a majority stake in our company.By my reading, this will cause us to lose our small business status and make it much more difficult to obtain federal work.While we already have some federal work, it is only 10-15% of our gross sales.In discussions with the buyers, they indicated that they might be willing to let the federal work and some of the employees be spun off into a separate company where they would not have a majority stake.Does anyone have any suggestions of how we could do this legally to still meet the requirements to maintain our small business status.
Hi: It sounds like you need advice from someone who specializes government regulations, like some lawyers. Have you tried contacting a ProcurementTechnical Assistance Center? PTAC offers advice and training in government contracting and may be able to steer you in the direction you need.
Message Edited by ZanetaB on 08-13-2009 10:37 AM
You may also want to check out this SBA resource:
Small business size standards
It appears that the designation is done by either income, size, or both.
ZanetaB | Former Moderator | 8/4/2009 - 12:25 pm
paulms | Contributor | 11/17/2009 - 2:29 pm
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