After more than two decades of starts and stops, the Small Business Administration (SBA) is conducting a comprehensive review and revamp of its small business size standards. The SBA is turning to the business community, including the U.S. Chamber, for input.

The Chamber's Giovanni Coratolo and Steve Lutes attended a June 3 SBA review meeting to learn about the agency's two-year plan to update size standards for each industry. 

"Our first priority is to ensure that the SBA does not pick winners and losers in the process, and that all small businesses can continue to take full advantage of the SBA's programs, including government contracting," says Coratolo.

There are a number of SBA size standards. For example, a manufacturing company with 500 employees is considered a small business, while a wholesale trade industry must have fewer than 100 employees to qualify.