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SBA redefines small businesses |
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By Caroline Lalley
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Tuesday, 22 July 2008 |
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The U.S. Small Business Administration recently announced revisions to the way it identifies a small business. Effective Aug. 18, SBA will increase the business size standards to $8.5 million for net worth and $3 million for net profit after taxes. Previously, small businesses and its affiliates could not exceed $7.5 million in net worth or have a net profit after taxes of $2.5 million averaged over the last two years.
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