Small Business Defined

In an earlier post, we discussed the definition of a small business, as issued by The U.S. Small Business Administration.  We wanted to revise and clarify the posting on what is defined as a small business.  The Federal Register provides a comprehensive listing of size standards, which apply to all SBA programs.

Businesses are categorized by:

  • the size of the business in terms of annual receipts, or
  • the number of employees.

When calculating the number of employees, include all full-time, part-time and temporary employees.  “Volunteer” workers such as interns who are not paid, would not be counted.

While many businesses are counted as “small” if they have under 500 employees, others have a lower or higher threshold for statutory purposes, and still others are counted by dollar amounts.  Check out your business type here!

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