Small Business Administration (SBA) revises size standards for Heating Oil and Propane Dealers

The Small Business Administration has updated the size standards for businesses classified under Heating Oil Dealers (NAICS 454311) and Liquefied Petroleum Gas Dealers (NAICS 454312). Previously, the standard was based on average annual receipts of $11.5 million for Heating Oil Dealers and $6.5 million for Liquefied Petroleum Gas Dealers. The revised standards now define small businesses in both categories as those with 50 or fewer employees. This change is intended to better reflect the current industry landscape, using the latest data and relevant information to create a more stable and accurate size classification. These revised standards took effect on August 21, 2008, allowing businesses and regulatory bodies to rely on a clearer and more consistent metric for small business eligibility in these sectors. The update is part of a formal rulemaking process, accessible publicly through official channels, and provides key contact information for inquiries. This adjustment helps align small business definitions with industry realities, fostering more precise support and regulatory measures within the heating oil and propane dealer industries.