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Small Business Definition

Supplier Power > Small Business Definition

Small Business Definition

Small Business Definition

 

A small business concern is one that is defined by the Small Business Act as “independently owned and operated, not dominant in its field, and whose size falls within the size standards established by the Small Business Administration.”

How Do I Know Which Size Standard Applies To My Company?

 

Generally, the following are examples of some of the current SBA size standards. Criteria are stated either in number of employees or average annual yield taken over a three-year period:

  • Manufacturing 500 to 1,500 Employees
  • Wholesale 100 Employees
  • General Construction $9.5 to $17 Million
  • Special Trades (Construction) $7 Million
  • Services $3.5 to $14.5 Million
  • Retail $3.5 to $13.5 Million
  • Agriculture $.5 to $3.5 Million

 

 

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Joe Flynn

Joe Flynn is the founder of Lavante Inc. a leading provider of Supplier Information Management Services for Fortune 500 Companies. Supplier Power is a personal blog designed to help small businesses understand the complexities and requirements that large corporations have.

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