Senator Markey & Colleagues Introduce Legislation To Re-Authorize & Improve Small Business Development Centers Program

on the Full transparency, below the Sen. This is a media release from Ed Markey, who was elected by the voters of the Commonwealth of Massachusetts to serve the state of Washington, DC in the US Senate. He is a Democrat. (stock photo) The resource publishes a press release by elected leaders as a community service.

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WASHINGTON, D.C. – Sen. Edward J. Markey (D-Mass.) on Senate Small Business and Entrepreneurship Chairman Ben Cardin (D-Md.) and Sens. Cory Booker (D-N.J.), Mazzie Herron (D-Hawaii) The committee meets. Chris Coons (D-Del.), Jackie Rosen (D-Nev.), and Jane Shaheen (DN.H) introduced on December 1, 2022 Small Business Development Centers Improvement Act of 2022– An Act to reauthorize and improve the Small Business Administration’s (SBA) Small Business Development Center (SBDC) program.

“The Small Business Development Center program is a major part of SBA’s business development ecosystem. SBDCs support our small business owners through a myriad of challenges and help small businesses grow,” said Sen. Cardin. “It is imperative that we give SBDCs our full support. I am proud to work with my colleagues on the Small Business Committee to introduce this important legislation, empowering our SBDCs and the entrepreneurs they lead along the way.

“Small businesses are the backbone of our economy and our country,” said Senator Booker. “SBDCs are an important tool for ensuring that small businesses have the resources to grow and thrive. I am proud to work with my colleagues on this legislation that allows SBDCs to provide vital services to small businesses. to continue

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“The Small Business Development Centers provide much-needed advice and support to business owners and entrepreneurs in Hawaii and across the country,” said Senator Hirono. “In 2021 alone, the Hawaii SBDC helped small business owners create more than 500 jobs and launch more than 70 local businesses, strengthening our economy and our communities. SBDCs play an important role in providing resources That’s what businesses need to succeed. As a member of the Senate Small Business Committee, I will continue to support local businesses and entrepreneurs in Hawaii and across the country.

“I am grateful for the invaluable assistance that the Small Business Development Centers have provided to the more than 88,000 small businesses in Delaware and countless others across the country,” said Senator Coons. “After witnessing first-hand the difficulties faced by Delaware’s small businesses due to the COVID-19 pandemic and the flexibility of their workforce, I am more committed than ever to making sure these businesses have the support they need from Congress. Needed for Growth By reauthorizing and improving the SBDC program, the Small Business Development Centers Improvement Act will strengthen the local businesses that sustain and grow our communities.

“During the coronavirus pandemic, we saw that when our country supports small businesses, our economy and our communities thrive. Small Business Development Centers are an important way to support and provide resources for the needs of small businesses, which is why I am proud to support the Small Business Development Centers Improvement Act,” said Senator Edward J. Markey.

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“Nevada has no shortage of innovators, entrepreneurs and small business owners, and I work every day to advocate on their behalf and make sure they have the support they need to grow and thrive,” said Senator Rosen. Senator Rosen said. “That’s why I’m helping to introduce legislation to reauthorize the Small Business Development Centers program, which provides valuable resources, training and advice to those starting or who are currently small businesses in our state. running the business.”

“The small business community is the heart of New Hampshire, driving economic growth and job opportunities in our communities. I am proud to help introduce this legislation to ensure that small businesses are available through Small Business Development Centers. Access to resources and support. From business development training to financial planning advice, these centers help small businesses compete and create jobs.” Senate on Small Business and Entrepreneurship As a senior member of the committee, I will continue to work to secure resources that will help Granite State businesses grow and innovate.”

of the Small Business Development Centers Improvement Act of 2022 Will provide a number of updates to the SBDC program, including requiring SBA to submit annual reports to Congress on all business activities and the SBDC program, and requiring SBA to evaluate and report on its data collection practices. to give It also prohibits institutions other than higher education institutions from receiving new grants under the program, allows centers to collect fees associated with private partnerships or partners, and allows centers to market their services directly to small businesses. , and amend regulations related to program funding, operations. Data collection, and reporting.

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The SBDC program began in 1976 with a center at California State Polytechnic University. Today, the SBDC network consists of 62 flagship centers, with nearly 1,000 outreach centers across the country. A number of leading centers are located at minority-serving institutions, including HBCUs and Hispanic-serving institutions.

The SBDC program is SBA’s largest resource partner in business development programs. The centers provide professional business consulting and training for small business owners focusing on strategic planning, business development, financial planning, and cash management. SBDCs are particularly effective because they are closely integrated with the local community, and familiar with the region’s unique challenges.

In fiscal year 2021, the SBDC network served 643,144 unique clients, helped launch 22,589 new businesses and supported more than 2 million jobs.

This bill is endorsed by the SBDC of America, a nationwide network of small business development centers:

“I want to thank Chairman Cardin and his colleagues for helping advance this important legislation,” said Charles “T” Rowe, President and CEO of SBDC America. “SBDCs help hundreds of thousands of small businesses with cutting-edge assistance, and modernizing our program is a valuable part of modernizing the entire approach to small business support and development.”

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