Millennials. A million thinkpieces have parsed their buying habits and economic outlook. They’ve been accused of ruining the economy and toppling traditional norms. But is their impact so bad?

Conferences are a staple of our professional lives, whether you choose to attend a single event each year or you're racking up frequent flyer miles at multiple conferences. But how much are you truly gaining from these events?

We know that small businesses are a vital component of our economy. According to the U.S. Small Business Administration, there are nearly 30 million small businesses in the United States, accounting for a whopping 99.9 percent of all U.S. businesses, and eight million of those are classified as diverse businesses. These 30 million small businesses make a significant impact on our economy through job creation, innovation, and economic impact.

Small businesses are the engine that drive the U.S. economy, and Minority-Owned Business Enterprises (MBEs) fuel a large portion of that engine. The activities of the minority business community generate significant economic benefits for not only the local communities in which they exist, but also the nation as a whole.

The definition of a small business enterprise is a fluid one, changing based on ever-shifting market conditions. This is important because of the various benefits afforded to businesses that are classified as small. As such, less-than-large businesses need to stay current on small business size standards, as do supplier diversity programs that want to keep accurate supplier data.

In this article, we answer common questions faced by small business owners as well as the new size standards.