Business · 05/07/2022

Small Business Size Standards: Adoption of 2022 North American Industry Classification System for Size Standards

The U.S. Small Business Administration (SBA) is proposing to update its small business size regulations to incorporate the 2022 North American Industry Classification System (NAICS) revision, which created 111 new industries and changed size standards for some existing ones. The proposed changes will take effect on October 1, 2022.