Friday, June 24, 2005

The Small Business Administration - Some Interesting News

I found out some very interesting facts about the SBA and thought it would help to clear a lot of the myths and misunderstandings about the SBA.  First of all,  the SBA was set up in 1953 to "aid, counsel, assist and protect" small businesses.

The current definition of a small business is one that employs 500 or less.  However that may change to employing a 100 or less people.  This has not been decided yet so the 500 maximum still applies. 

Also the rules regarding the research grants have changed since 2002.  Gary Jackson, assistant administrator for size standards at the SBA, said the agency might propose new rules on size and other issues by the end of the year.

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