On March 31, 2022, SBA published a final rule in the Federal Register (87 FR 18665) revising small business size definitions (commonly referred to as “size standards”) for businesses in three North American Industry Classification System (NAICS) Sectors: Professional, Scientific and Technical Services (NAICS Sector 54); Management of Companies and Enterprises (Sector 55); Administrative and Support and Waste Management and Remediation Services (Sector 56). The final rule is part of the second five-year rolling review of size standards, as required under the Small Business Jobs Act of 2010 (Public Law No. 111-240, sect. 1344, September 27, 2010).
SBA increased 46 size standards in those sectors, including 27 in Sector 54, two in Sector 55, and 17 in Sector 56. The revised size standards will become effective on May 2, 2022.