Washington, D.C. – U.S. Senator Jim Risch (R-ID), Ranking Member of the Senate Committee on Small Business and Entrepreneurship, introduced the SCORE for Small Business Act of 2014, S. 2008, which increases authorized funding levels for the SCORE program. SCORE provides entrepreneurs with mentoring and coaching related to starting, expanding and managing a business, through a nationwide network of more than 11,000 volunteer business executives and experts.
In the bill, the authorized funding increases for SCORE are fully offset by a repeal of the Program for Investment of Microentrepreneurs (PRIME), which uses $3.5 million per year to provide technical assistance grants to non-profits.
“Since becoming Ranking Member of the Senate Small Business Committee, I have closely examined the federal government’s programs to assist small businesses,” said Risch. “While I have certainly found areas for reform and repeal, such as the PRIME program, I have also been impressed by SCORE and the impact they make with very little taxpayer support. I believe that with a modest increase in their funding, they can serve thousands more entrepreneurs, including those in rural parts of Idaho, through online mentoring and outreach.”
“We greatly appreciate Senator Risch’s support and strong leadership in the small business arena and particularly on this bill that will ultimately help more entrepreneurs achieve their dream of success,” said W. Kenneth Yancey, JR., CEO of SCORE. “With this increase in funding, SCORE will be able to immediately impact more small business owners in Idaho and other states and communities across our Country. It will specifically help as we expand our reach in rural communities and underserved areas. As an entrepreneur and small business advocate, Sen. Risch understands the importance of the support provided by SCORE and we are grateful for his leadership.”
S. 2008, introduced with Senator Mary Landrieu (D-LA), has been referred to the Senate Committee on Small Business and Entrepreneurship, of which Senator Risch serves as the highest ranking Republican. The Committee oversees proposed legislation on matters relating to entrepreneurship and provides oversight of the Small Business Administration. They also research, investigate and report all problems relating to America’s small businesses to the full Senate.