Division of Financial Services
Procurement Services
The legal definition of a small business is determined by the U.S. Small Business Administration (SBA). Title 13, Part 121 of the Code of Federal Regulations sets forth in detail the criteria to be used by the SBA in making small business determinations. Examples of these criteria include the number of employees, average annual receipts, size standards on an industry-by-industry basis, and the nature of the any relationships with affiliates.
