July 14, 2021
(Washington, DC) – U.S. Senators Jeanne Shaheen (D-NH) and Tim Scott (R-SC) launched the Golden-preneurship Act, which might catapult senior-owned small companies to the following degree of success.
The COVID-19 pandemic has had a devastating unfavourable impact on small companies and their workers. Greater than 800,000 small companies closed their doorways completely final 12 months – 200,000 greater than a standard 12 months – whereas the unemployment price reached a report 14.8 % in 2020 and continues to be stubbornly excessive in some areas. Because the nation rebounds from the COVID-19 pandemic, seniors will be part of the answer and assist create jobs for others.
“As New Hampshire recovers from the monetary fallout of the pandemic, our senior entrepreneurs have a wealth of expertise and expertise that may assist us construct again stronger than ever,” mentioned Senator Shaheen. “I’m proud to assist lead a invoice that connects senior entrepreneurs with new coaching alternatives to allow them to construct companies and strengthen our communities – irrespective of their age. I’ll proceed combating to make sure Granite Staters of their golden years are empowered and included in our economic system.”
“The American Dream doesn’t cease at retirement,” mentioned Senator Scott. “Thousands and thousands of Individuals have the potential to proceed constructing on their careers by re-entering the workforce utilizing the life expertise they’ve cultivated through the years. The Golden-preneurship Act will equip older entrepreneurs with the instruments essential to take their concepts from the drafting board to actuality. I thank Senator Shaheen for becoming a member of me in introducing this invoice and believing that each American, irrespective of their age, is usually a contributing member of society.”
Older Individuals mix years of enterprise expertise and networks to start out profitable small companies. The Golden-preneurship Act creates a brand new “Golden Entrepreneurs” coaching program to equip older entrepreneurs with the required instruments to extend their companies’ market share and assist convey jobs and capital to communities across the nation. This laws additionally requires the Small Enterprise Administration (SBA) to trace the loans and grants supplied to older Individuals to pave the trail to raised assist seniors within the economic system.
Supporting teams of the Golden-preneurship Act embody the Middle for American Entrepreneurship, the U.S. Chamber of Commerce, the Nationwide Affiliation of Insurance coverage & Monetary Advisors (NAIFA), The ESOP Affiliation, America’s SBDC, PC Motion and the Financial Innovation Group.
Click on right here to learn textual content of the invoice.