Rule creates stiffer penalties for misrepresenting business size

07/10/2013 | Bloomberg Businessweek

The government's definition of "small business," which is important for determining which companies qualify for certain loans and programs, varies by industry. In the past, the penalty for misrepresenting a business' size was relatively light, but a new rule, set to take effect Aug. 27, will change that by adjusting the way damages are calculated.

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