### Question
What is the definition of small business concern?


### Answer
The definition of **small business concern** is as follows in *15 U.S.C. § 694a*:

> a business concern that meets the size standard for the primary industry in which such business concern, and the affiliates of such business concern, is engaged, as determined by the Administrator in accordance with the North American Industry Classification System

#### Citation:
  - *15 U.S.C. § 694a*
  - Heading: **CHAPTER 14B-SMALL BUSINESS INVESTMENT PROGRAM > SUBCHAPTER IV&ndash;A-GUARANTEES > Part B-Surety Bond Guarantees**

