In December the president signed the “Small Business Runway Extension Act of 2018” into law.
In order to determine if your business is consider ‘small’, the SBA currently averages the last 3 years of revenue – this is now extended to the average over 5 years.
Some businesses currently on the verge of being ineligible for ‘small’ designation could keep their designation for longer.
The House Committee on Small Business hopes this will “help advanced-small contractors successfully navigate the middle market as they reach the upper limits of their small size standard.”