SBA Reconsidering Definition of Small Business

The Small Business Administration has holding hearings, starting in St. Louis and Seattle, as it considers changing the definnition of small business, the Seattle Times reported. Under current rules, the definition of a small business ranges by industry, but is generally defined as having 500 or fewer employees. Last summer, the SBA withdrew a proposal that would have defined the limit of “small” at 100 employees. Hearings are to continue in New York, Chicago, Los Angeles and other cities through the month of June.