To be eligible to participate in the VTrans Small Business Program, a firm must meet the small business definition set forth at 49 CFR Part 26.65. The USDOT definition currently limits the size standard to $22.41 million in gross revenues, averaged over the past three years. If average gross receipts are under the SBA size standard for the primary type of work the firm performs and under $22.41 million annually, the firm would be considered a small business, eligible to apply for participation in the VTrans Small Business Program.
Examples of the type of work typically used in road and bridge construction and the current size standard (dollars are shown in millions) for that type of work are provided on the SBA website. SBA’s complete list of size standards, matched to the North American Industry Classification System (NAICS), is available online: SBA Small Business Size Standards: http://www.sba.gov/content/small-business-size-standards