“A recent GAO decision resolves for the time being a critical small business issue: whether the 3-year revenue average for determining small business status was still valid. GAO denied a protest that argued the 3-year period had been revised by a new law that extended the 3-year period to 5 years effective immediately. Although the GAO decision describes the current state of the law, there remain a number of additional, unresolved issues for Congress and the SBA to resolve…”
“Comments on the proposed rule closed on August 23, 2019. As of this publication date, the SBA has not adopted a final rule.”
“In conclusion, we anticipate the resolution of these small business issues within the next few months. We will continue to keep you informed of these changes.” Read the full article here.
Source: GAO Agrees with the SBA: For Now, Base Small Business Size on 3-Year Average Revenue – By Terry O’Connor, September 18, 2019. Berenzweig Leonard.
