Before recessing for mid-term elections, the Senate Small Business Committee passed the Small Business Runway Extension Act of 2018 (S. 3562).
WIPP partnered with the Montgomery County Chamber of Commerce on the Pathway to Growth Initiative and played a significant role in advancing this legislation. The bill would give larger small business contractors more runway when transitioning into the full and open marketplace by allowing small businesses to take the average revenue over five years (current law is three years) for the purposes of size determination. WIPP’s Board Chair Lisa Firestone testified in the House Small Business Committee on this issue earlier this year.
The objective of this legislation is to find solutions to the federal marketplace’s “mid-size no man’s land problem.” Contractors who outgrow their small business size status often face undesirable choices such as selling, attempting to stay small, or going out of business. By giving small businesses a few more years to prepare for other than small status, the likelihood of successfully competing in the full and open marketplace increases. Further, this change in law would increase the pool of well-qualified small business subcontractors for prime contractors — with the potential for a longer relationship.
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