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SBA proposes rule to ease small business standards.

CPAs with small business clients or companies should be aware that more small companies will become eligible for Small Business Administration (SBA) assistance if an SBA proposal is adopted. The proposed rule change would streamline the standards the SBA uses to determine whether small businesses qualify for assistance programs. It would reduce the number of size standards from 30 to 9 (5 employee-based standards affecting companies with 100 to 1,500 employees and 4 new receipts-based standards affecting companies with $5 million to $25 million in annual receipts).

The SBA estimates an additional 22,000 companies, including 9,000 in the service area, could become eligible for its programs. In areas likely to include CPA firms, the estimated number of qualifying accounting, auditing and bookkeeping firms (SIC code no. 8721) could rise from 58,000 to 58,200 and the estimated number of management consulting firms (SIC code no. 8742) could grow from 21,495 to 21,724.
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Title Annotation:Small Business Administration
Publication:Journal of Accountancy
Article Type:Brief Article
Date:Dec 1, 1993
Words:158
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