Small Business Administration Changes Legal Definition of "Small Business"
Facebook
Facebook
Twitter
Twitter
LinkedIn
LinkedIn
Email
Email
0 Comments
Comments
The definition of small business changed on an industry-by-industry basis, and it is estimated that over 8,000 businesses formerly labeled as "mid-sized" will have their status changed. Previously, the rules roughly labeled any manufacturing business with fewer than 500 employees, or service business with less than $7 million in annual revenue, as a small business. The new definitions account for such variances as average firm size for the industry, degree of competition and inflation when categorizing companies.
0 Comments
View Comments
E
Kyle A. Richardson
Author's page
Kyle A. Richardson is the editorial director of Promo Marketing. He joined the company in 2006 brings more than a decade of publishing, marketing and media experience to the magazine. If you see him, buy him a drink.
Related Content
Comments