New Grants, Entrepreneurship Office Proposed for SBA

Two small grant programs and a minor reorganization of related functions within the U.S. Small Business Administration are the aims of a bill introduced Nov 26 by Democratic Sens. Mary Landrieu and John Kerry. "Today's Entrepreneurs are Advancing Mentorship Act of 2012," or the TEAM Act (S. 3638) for short, would create an Office of Entrepreneurial Support within SBA to administer the grant programs, oversee online entrepreneurship education and resources, coordinate programs targeting youth entrepreneurship, and host international groups interested in U.S. entrepreneurship. The proposed Entrepreneurial Support grant program would provide funding to develop entrepreneurship curricula and mentoring programs within SBA's network of resource partners, including SBDCs, SCORE, women business centers and other nonprofit organizations. The total authorized funding level would begin at $1 million in 2013 and build to $3 million by 2015. A new Emerging Leaders Program would support specialized training and executive-level mentoring for small business concerns with growth potential, at least one employee and that have been in business for two or more years. The language permits SBA to contract with or grant funding for a single, national service provider to manage the program at an authorization level of $2 million per year through 2015. Prospects for passage of the legislation in the closing days of the 112th Congress seem slim given the larger fiscal issues looming before the lame duck body. Nevertheless, the Senate Committee on Small Business and Entrepreneurship, which is chaired by Sen. Landrieu, will hold a hearing on the topic at 10:00 am on Thursday, Nov 29. More information will be available at: http://www.sbc.senate.gov