The Small Business Administration issued a final ruling Friday that adjusts the agency’s standards in determining what revenue sizes constitute small businesses.
In a Federal Register notice, the SBA said it is increasing 37 small business standards for 34 industries and three sub-industries.
SBA will continue to review size standards sector-by-sector, according to the notice.
The SBA now says small businesses providing engineering services can average revenues of $14 million over three years, up from $4.5 million.
The SBA says this will expand contracting opportunities for small businesses now included under the new standard, according to the notice.
The SBA considers areas of military and aerospace equipment, military weapons, marine engineering and naval architecture as exceptions from the general engineering standard.
For those areas, the SBA adopted $35.5 million over three years as the standard, up from $27 million.
The geospatial, surveying and mapping sector cap was increased to $14 million over three years, up from $4.5 million.
To see the full list of sectors that received an adjusted revenue definition and SBA’s justifications, see the list here.