Foundations of Business - Standalone book (MindTap Course List)
4th Edition
ISBN: 9781285193946
Author: William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher: Cengage Learning
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Question
Chapter 5, Problem 1CC
Summary Introduction
To determine: The information required to determine whether a specific business is small based on SBA guidelines.
Introduction: A small business administration is an autonomous organization of Country U's government that secures the interests of independent or small business ventures and guarantees that they get a decent amount of government contracts.
Expert Solution & Answer
Explanation of Solution
The information required to determine whether a particular business is small based on SBA guidelines are as follows:
- Agriculture: They should have a maximum annual receipt up to $750,000.
- Travel agencies, tour operators: They should have a maximum average annual receipts are of $20,500,000.
- Retail trade, barber shops, salons: They should have a maximum annual sales or receipts of $7,500,000.
- Furniture stores: They should have maximum annual receipts are up to $20,500,000.
- Special trade contractors: They should have a maximum average annual sales are up to $15,000,000.
- Manufacturing, mining industries: These industries should have a maximum of 500 numbers of employees.
- Wholesale trade: They should have maximum of 100 numbers of employees.
- Department stores: They should have a maximum annual receipt are up to $32,500,000.
- Discount department stores: They should have maximum annual receipts are up to $29,500,000.
- Dredging: They should have a maximum average annual receipt of $27,500,000.
- General and heavy construction: They should have a maximum average annual receipt of $36,500,000.
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