SBA Proposes Revised Small Business Size Standards

The Small Business Administration has proposed a revision of its small business size standards for virtually all wholesale and retail businesses. The proposed standard for musical instrument retail stores (NAICS Code 451140) would increase from $12 million in annual revenues, to $20 million.

SBA size standards are important because being classified as a "small business" paves the way for individual businesses to qualify for SBA loans, disaster relief loans and other government benefits.

The review of size standards takes place every five years. The SBA proposal will be open for comment until July 26.

NAMM will continue to monitor this issue closely and will post updates here as they are available.