On Tuesday, May 25, 2021 SBA published a proposed rule in the Federal Register proposing to revise the small business size definitions for businesses in two North American Industry Classification System (NAICS) Sectors: Wholesale Trade (NAICS Sector 42); Retail Trade (NAICS Sector 44-45). The proposed rule is part of the second 5-year rolling comprehensive review of small business size standards, as required under the Small Business Jobs Act of 2010 (Public Law No. 111-240, sect. 1344, September 27, 2010).
SBA proposes to increase size standards for 49 industries in those sectors, including 14 industries in the Wholesale Trade sector and 35 industries in the Retail Trade sector.
If you would like to submit comments on SBA’s proposed rule, identify them by RIN 3245-AH10 (Small Business Size Standards: Wholesale Trade; Retail Trade). We recommend that you comment through the Federal eRulemaking Portal: https://www.regulations.gov. Follow the instructions there for submitting comments. The period for comments ends on July 26, 2021.
You may also review the proposed rule together with comments from interested parties by going to https://www.regulations.gov.