Section 27.210 - Definitions(a)Scope. The definitions in this section apply to § 27.209 , unless otherwise specified in those sections.(b)Small and very small business.(1) A small business is an entity that, together with its affiliates and controlling interests, has average annual gross revenues that are not more than $40 million for the preceding three years.(2)A very small business is an entity that, together with its affiliates and controlling interests, has average annual gross revenues that are not more than $15 million for the preceding three years. 67 FR 45373 , July 9, 2002, as amended at 68 FR 43000 , July 21, 2003