Entrepreneurship Training for Inmates: Starting a Small Business After Release.
This Act establishes a program providing entrepreneurship counseling and training services to individuals incarcerated in minimum, low, or medium-security federal prisons. The goal is to equip these individuals with the necessary skills, such as business planning and financial literacy, to start or expand a small business upon release. This initiative aims to facilitate successful re-entry into society and reduce recidivism rates by offering a path to self-employment.
Key points
Incarcerated individuals in designated federal prisons will receive free entrepreneurship counseling and training from Women’s Business Centers and Small Business Development Centers.
The services include in-depth training on drafting business plans, identifying capital sources, and understanding the fundamentals of self-employment.
Participants receive a certificate upon completion, and they may continue to receive support services even after their release from federal custody.
Priority is given to individuals scheduled for release within 18 months to ensure timely preparation for their transition back into the community.
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