1. Short title This Act may be cited as the Emerging Business Encouragement Act of 2018 . 2. Emerging Business Enterprises (a) Designation Section 3 of the Small Business Act ( 15 U.S.C. 632 ) is amended by adding at the end the following: (dd) Emerging Business Enterprises (1) In general Not later than the date that is one year after the date of enactment of this paragraph, for each industry category for which the Administrator established a size standard under this subsection, the Administrator shall by rule establish procedures for designating a small business concern in that industry category as an emerging business enterprise. Such procedures shall include the criteria under paragraph (2), and a process for appealing decisions of the Administrator on designations. Such a designation shall expire on the date that the small business concern is no longer in compliance with such criteria, except that— (A) in the case of an emerging business enterprise that receives a designation as such but which existed as a business entity prior to such designation, the designation shall not expire by reason of the emerging business enterprise being more than 5 years old; instead, the designation shall expire on the date that is 5 years after the date of the designation