What constitutes a small business according to state and federal government?
February 14th, 2010 | 
Author: 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?
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.
Posted in small business
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.
References :
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/documents/sba_homepage/serv_sstd_tablepdf.pdf 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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