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Veterans Entrepreneurship Act of 2021
12/31/2022, 5:07 AM
Summary of Bill HR 4433
The main provisions of the bill include:
1. Establishing a program within the Small Business Administration (SBA) to provide training, counseling, and mentorship to veterans who are interested in entrepreneurship. This program would help veterans develop the skills and knowledge needed to successfully start and run their own businesses. 2. Creating a grant program to provide funding to organizations that offer entrepreneurship training and support services specifically for veterans. These grants would help expand the availability of resources for veterans looking to start their own businesses. 3. Directing the SBA to conduct outreach and education efforts to inform veterans about the resources and support available to them through the agency. This would help ensure that veterans are aware of the opportunities and assistance available to them as they pursue entrepreneurship. Overall, the Veterans Entrepreneurship Act of 2021 aims to provide veterans with the tools and support they need to successfully launch and grow their own businesses. By offering training, counseling, mentorship, and financial assistance, the bill seeks to empower veterans to achieve their entrepreneurial goals and contribute to the economy.
Congressional Summary of HR 4433
Veterans Entrepreneurship Act of 2021
This bill requires the Small Business Administration to carry out a pilot program assessing the feasibility and advisability of making grants to eligible veterans to start or acquire a small business concern, a franchise business enterprise, or any other appropriate category of business enterprise. Eligible veterans are those veterans or members of the Armed Forces who (1) are currently retiring or separating from the Armed Forces or have been honorably discharged from active duty, (2) have completed a specified minimum period of active duty, and (3) are entitled to certain educational assistance programs.
Grant recipients must complete an entrepreneurship readiness program and prepare a business plan, and they may use grant funds for purposes such as purchasing goods or services, funding a project that is directed toward economic development objectives, and acquiring a business enterprise.
