What Constitutes A Small Business According To State And Federal Government?
Posted by admin on September 28th, 2009 at 12:25pm
I am currently trying to determine if my company constitutes as a small business but I would like to find out what is the maximum amount of employees needed to be a small business according to the State of New Jersey or the Federal Government. Does anyone know?
Tags: According, Business, Constitutes, Federal, Government, Small, State
Under Small Business
2 Comments for What Constitutes A Small Business According To State And Federal Government?
1. Roms Daddy Warbucks | September 28th, 2009 at 12:34 pm
As I understand it, any business that has a net under $5 mil. is a small business as per the Federal government. Don’t know about NJ.
2. KMcG | September 28th, 2009 at 12:50 pm
It depends on the industry you’re in. Mostly this is defined by revenue and not employees. The following link provides some guidance. http://www.sba.gov/idc/groups/public/doc… For purposes of competetive bid contracts there are some other measurements used and they vary greatly. At other times, you’ll see the number of employees mentioned also and this is typically under 100.
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