Defining Small Businesses in Virginia

Background

HB 1901, which passed during Virginia’s last legislative session, changes the definition of small business to require the business, together with affiliates, to meet the small business size standards established by the regulations of the U.S. Small Business Administration.

The bill will not become effective unless reenacted by the 2016 Session of the General Assembly.

We’d like your help determining how this change might impact Virginia’s architecture firms.

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* 1. Does your firm qualify as a small business under the current definition? (Currently, a small business qualifies with 250 or fewer employees or average annual gross receipts of $10 million or less averaged over the previous three years.)

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* 2. Does your firm qualify as a small business under the new definition (Under the proposed change, a small business offering Architectural services must make less than $7.5 million in average annual receipts.)

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* 3. How would this change impact your business?

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