Funding Support for Small Businesses
Official: SBIR Administrative Funding Act
This bill helps small businesses by providing more funding for program administration and encouraging participation from underserved areas. It aims to ensure that more businesses can access support and resources.
1. This bill extends funding for administrative costs related to small business programs until 2030. 2. It increases the percentage of funds available for these costs from 3 percent to 3.3 percent. 3. Federal agencies must transfer at least 10 percent of certain appropriations to support small business programs. 4. The bill aims to boost participation from states that have received fewer small business awards historically. 5. It allows federal agencies to use funds to improve outreach and technical assistance for small businesses.
Small business owners and entrepreneurs, especially in states with low participation in funding programs.