Boosting Support and Education for Employee-Owned Businesses and Cooperatives.
This Act mandates the Small Business Administration (SBA) to significantly improve its outreach and education efforts regarding employee ownership and cooperative business models. The goal is to make it easier for small businesses to transition to employee ownership, potentially leading to greater job stability and wealth sharing among employees. The SBA must also expand its investment program outreach to include investors.
Key points
The SBA is required to actively participate in federal working groups and meetings focused on employee ownership and cooperatives to ensure better coordination of support.
Within 180 days, the SBA must use its dedicated promotion program to provide targeted assistance and information to small businesses interested in employee ownership.
Outreach for small business investment programs (SBIC) is expanded to specifically target investors, potentially increasing capital availability for small businesses.
Status:
Placed on Calendar
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