BPC Action Applauds Bipartisan Golden-preneurship Act in Economics and Finance

BPC Action commends Sens. Tim Scott (R-SC) and Jeanne Shaheen (D-NH) for their leadership in introducing S. 2348, the Golden-preneurship Act, which aims to help senior-owned small businesses as the country continues to recover from the COVID-19 pandemic. 

In the early stages of the pandemic, the United States lost hundreds of thousands of small and young companies. By the second half of 2020, however, American entrepreneurs were again putting a charge into economic growth, especially older Americans. According to the Kauffman Foundation, the rate of new entrepreneurs for Americans over the age of 55 reached an all-time high – far higher than for those in their twenties. 

As high unemployment persists in some parts of the country and the nation seeks to regain a strong trajectory of growth, senior entrepreneurs are essential to recovery, but they need public support. 

By utilizing existing funding at the Small Business Administration, the Golden-preneurship Act creates a new “Golden Entrepreneurs” training program to help entrepreneurs over the age of 60 with the necessary tools to increase their businesses’ market share and help bring jobs and capital to communities around the country. 

The Golden-prenuership Act is a cost-effective investment to help older entrepreneurs start and grow their businesses. BPC Action is committed to helping this legislation become enacted.