Adams Announces the Passage of the SCORE for Small Business Act
Washington, DC – Yesterday, Congresswoman Alma S. Adams (NC-12), Vice Ranking Member of the House Small Business Committee and Ranking Member of the Small Business Subcommittee on Investigations and Oversight, announced that H.R.1700, the SCORE for Small Business Act of 2017, has passed the U.S. House of Representatives.
This legislation authorizes the SCORE program at $10.5 million annually through 2019. The SCORE for Small Business Act passed as a part of the reauthorization of the National Defense Authorization Act, which specifies the budget and expenditures of the United States Department of Defense amongst other provisions.
“I’m pleased that my bill, the SCORE for Small Business Act, has passed the House of Representatives,” said Congresswoman Adams. “Mentorship plays a critical role in the short- and long-term success of small businesses. SCORE is an important tool available to help new entrepreneurs better navigate the difficulties of starting a new business. The reauthorization of SCORE will help to meet the needs of NC-12 businesses and the more than 800,000 small businesses in North Carolina. Small businesses are the drivers of our economy and I am proud to have worked on this legislation with my colleague Representative Don Bacon of Nebraska.”
“Small businesses and entrepreneurs are the backbone of Nebraska’s Second District,” said Congressman Don Bacon. The SCORE for Small Businesses Act will develop mentorship programs for aspiring entrepreneurs and small business owners to help them create a successful company. Having retired business leaders mentor and provide entrepreneurs with best practices and training will allow them to contribute to our nation’s thriving economy. I thank Congresswoman Adams for her work on this bipartisan issue.”
“Rep. Adams has been a valued leader in promoting small business growth, particularly among people of color and in underserved areas like rural communities,” said Congresswoman Velázquez, Ranking Member of the House Small Business Committee. “By passing her bill to improve the SCORE program, the House has taken a major step towards ensuring that entrepreneurs in North Carolina and around the country can pursue a dream and create jobs in their local communities.”
The SCORE program is part of the U.S. Small Business Administration’s entrepreneurship development portfolio that has provided significant business assistance to entrepreneurs. This non-profit organization is the largest federal business mentoring program to help Americans start and grow their small businesses. Volunteers, many of whom have retired from the workforce, donate more than one million hours of their time to assist entrepreneurs. There are more than 300 SCORE chapters in over 800 locations across the nation. SCORE volunteers provide assistance and training in person and online. There are six SCORE chapters in North Carolina, with one chapter located in Charlotte.