SCORE for Small Business Act of 2023

SCORE for Small Business Act of 2023

This bill reauthorizes through FY2025 the Service Corps of Retired Executives (SCORE) program, outlines the duties of the SCORE Association, and requires the Small Business Administration (SBA) to cooperate with the association to carry out the program.

Specifically, the bill requires the association to manage nationwide chapters of the program to enable volunteers participating in the program to provide personal, cost-free business expertise and facilitate education workshops to small businesses. The association must also offer online counseling through web-based platforms to small businesses.

In consultation with the association, the SBA must ensure that the program (1) recruits diverse volunteers for each chapter of the program, and (2) provides services to rural and underserved communities.

Bill 118 s 1744, also known as the SCORE for Small Business Act of 2023, aims to provide support and resources for small businesses in the United States. The bill focuses on strengthening the Small Business Administration's (SBA) SCORE program, which provides mentorship and guidance to entrepreneurs and small business owners.

The key provisions of the bill include increasing funding for the SCORE program to expand its reach and impact, as well as enhancing the training and resources available to SCORE mentors. Additionally, the bill seeks to improve coordination between SCORE and other SBA programs to ensure that small businesses have access to a comprehensive network of support.

Furthermore, the SCORE for Small Business Act of 2023 aims to promote diversity and inclusion within the small business community by encouraging the recruitment of mentors from underrepresented backgrounds and providing targeted support to minority-owned businesses. Overall, the bill is designed to empower small businesses to succeed and thrive in the competitive marketplace by providing them with the tools, guidance, and support they need to grow and prosper.