SBA Increases size standards for NAICS Sector 62, Health Care and Social Assistance

The Small Business Administration (SBA) has revised the small business size standards for 28 industries within NAICS Sector 62, which covers Health Care and Social Assistance, while maintaining the existing standards for the remaining 11 industries in this sector. This update is part of SBA’s comprehensive review process aimed at ensuring that size standards accurately reflect the economic realities of these industries. The changes will expand eligibility, allowing up to 4,100 additional firms to qualify as small businesses, thereby enabling them to access SBA loan programs and federal procurement opportunities designed to support small enterprises. The final rule implementing these revised size standards became effective on October 24, 2012. Interested parties can access the detailed final rule, as well as the initial proposed rule and public comments, through Regulations.gov under docket number RIN 3245-AG30. The contract related to this update is identified by solicitation number SBA-09242012-sect62, with Carl J. Jordan listed as the point of contact. This adjustment is significant in promoting business growth and participation in government programs across the health care and social assistance industries.