Ever wonder what qualifies as a “small” business? It does affect the grants and loans that you can go after. The United States Small Business Administration has specific definitions of what makes a “small business” and the stipulations can vary from one industry to another. Most of the businesses in the U.S. today are categorized as “small.”
According to the SBA here are the most common size standards:
~Less than 500 employees for most manufacturing and mining industries
~Less than 100 employees for all wholesale trade industries
~Less than $6 million in sales for most retail and service industries
~Less than $28.5 million in sales for most general and heavy construction industries
~ Less than $12 million in sales for all special trade contractors
~Less than $0.75 million in sales for most agricultural industries.