Small business size standards are periodically updated. The government understands that making $15 million in revenue twenty years ago is different than $15 million in revenue today. As such, NAICS code limits are updated to reflect changes and economic growth.nnNAICS codes were last updated in 2022. The SBA also updated its size definitions in July 2022. The Small Business Jobs Act of 2010 mandates a review of small business size standards every five years.