What are the criteria for classification as a small business?
• is organized for profit; • has a place of business in the United States; • makes a significant contribution to the U.S. economy by paying taxes or using American products, materials or labor; and • does not exceed the numerical size standard for its industry.The business may be a sole proprietorship, partnership, corporation, or any other legal form. Central Contractor Registration has aligned its classification standard with the official classification from Small Business Administration (SBA). The SBA has a size standard for all private sector industries in the U.S. economy, using the North American Industry Classification System (NAICS) to identify the industries. Size standards (usually stated in number of employees or average annual receipts) represent the largest size that a business (including its subsidiaries and affiliates) may be to remain classified as a small business for SBA’s programs and for federal contracting programs. For the most current information on the small bus
• is organized for profit; • has a place of business in the United States; • makes a significant contribution to the U.S. economy by paying taxes or using American products, materials or labor; and • does not exceed the numerical size standard for its industry. The business may be a sole proprietorship, partnership, corporation, or any other legal form. Central Contractor Registration has aligned its classification standard with the official classification from Small Business Administration (SBA). The SBA has a size standard for all private sector industries in the U.S. economy, using the North American Industry Classification System (NAICS) to identify the industries. Size standards (usually stated in number of employees or average annual receipts) represent the largest size that a business (including its subsidiaries and affiliates) may be to remain classified as a small business for SBA’s programs and for federal contracting programs. For the most current information on the small bu
