SBA changes definition of small business

Does a $30 million company deserve to qualify for “small business” assistance? Apparently so. The Small Business Administration has announced that it is raising the definition of a “small” business after the first “comprehensive review” in almost three decades. Retail, food service and other business categories formerly capped at $7 million in revenue will see those limits raised to as much as $35.5 million. For more information about this article and to discuss franchising, please call Lynne Shelton in our Austin, TX office or Jason Power in our Tampa, FL office at 866-993-7262.