The Small Business Administration has updated its revenue based size standards for small businesses. For the first time since 2008 the SBA made adjustments to the size standards pertaining to the construction industry; they have all increased.
| NAICS Code: | NAICS US Industry Title: | Old Standard: | New Standard (effective July 14, 2014) |
| 238210 | Electrical Contractors & Other Wiring Installation Contractors | $14 million | $15 million |
| 237130 | Power & Communication Line and Related Structures Construction | $33.5 million | $36.5 million |
| 236210 | Industrial Building Construction | $33.5 million | $36.5 million |
| 236220 | Commercial and Institutional Building Construction | $33.5 million | $36.5 million |
| 237110 | Water and Sewer Line and Related Structures Construction | $33.5 million | $36.5 million |
| 237120 | Oil and Gas Pipeline and Related Structures Construction | $33.5 million | $36.5 million |
| 237210 | Land Subdivision | $25.5 million | $27.5 million |
| 237310 | Highway, Street, and Bridge Construction | $33.5 million | $36.5 million |
| 237990 | Other Heavy and Civil Engineering Construction | $33.5 million | $36.5 million |
| 237990 | Dredging and Surface Cleanup Activities | $25.5 million | $27.5 million |
| Subsector 238 | Specialty Trade Contractors | $14 million | $15 million |
The new size standards took effect July 14, 2014 and will govern what contractors can certify as small businesses when bidding on or submitting a proposal for projects. In addition, those seeking certification through the SBA or Department of Veterans Affairs for one of the specific small business programs, such as the HUBZone, Women Owned or the Service Disabled Veteran Owned small business programs should take this opportunity to review their last three fiscal years’ tax returns to determine their average annual receipts.
For more information, you can go to the Small Business Administration’s website: www.sba.gov