The Small Businesses Administration implemented on Jan. 6 a final rule to enforce a 2018 law that would increase the period of calculating annual revenue of small businesses in the contract review process from three to five years, Nextgov reported Monday.
The final SBA rule to implement the 2018 Small Business Runway Extension Act is “going to increase the pool of eligible participants and make a lot more companies eligible to participate for small business set asides,” said Daniel Snyder, director of contract analysis at Bloomberg Government.
Small businesses may choose between a three-year and five-year averaging period for annual receipts during the transition period, which will end on Jan. 6, 2022.
