Expanding Opportunities for Diverse Entrepreneurs Act

Bill 118 hr 2485, also known as the Expanding Opportunities for Diverse Entrepreneurs Act, aims to support and promote diversity in entrepreneurship in the United States. The bill was introduced in the House of Representatives on April 13, 2021, by Representative Eddie Bernice Johnson from Texas.

The main goal of this legislation is to provide resources and assistance to entrepreneurs from underrepresented communities, including women, minorities, veterans, and individuals with disabilities. The bill seeks to address the disparities in access to capital, resources, and opportunities that these entrepreneurs often face.

Specifically, the Expanding Opportunities for Diverse Entrepreneurs Act would establish a grant program to provide funding for organizations that support diverse entrepreneurs. These organizations would offer training, mentorship, networking opportunities, and other resources to help these entrepreneurs succeed in starting and growing their businesses. Additionally, the bill would require the Small Business Administration (SBA) to collect data on the participation of diverse entrepreneurs in federal contracting programs. This data would help identify any barriers or challenges that these entrepreneurs may face in accessing government contracts and opportunities. Overall, the Expanding Opportunities for Diverse Entrepreneurs Act aims to level the playing field for entrepreneurs from underrepresented communities and ensure that they have the support and resources they need to thrive in the business world. The bill is currently in the early stages of the legislative process and has not yet been voted on by the House of Representatives.