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Bill

H 332

An act relating to the creation of the Small Business Technical Assistance Exchange

2025-2026 Regular Session Introduced by Doug Bishop and 7 co-sponsors

Establishes the Small Business Technical Assistance Exchange (SBTAX) to centralizedly provide technical help, mentorship, and guidance to Vermont small businesses.

Read first time and referred to the Committee on Commerce and Economic Development
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Bill Summary · H 332

Bill Summary: H 332 (2025-2026) – An act relating to the creation of the Small Business Technical Assistance Exchange

Purpose and intent

  • Establishes the Small Business Technical Assistance Exchange (SBTAX) to strengthen support for small businesses in Vermont.
  • Aims to improve access to technical expertise, mentorship, and advisory resources to help small businesses start, grow, and succeed.
  • Seeks to coordinate and streamline technical assistance services across state programs, potentially reducing duplication and expanding reach.

Key provisions and changes

  • Creation of SBTAX as a centralized program or entity within the state framework (specific organizational structure details are not provided in the summary yet).
  • Definition of the scope of services to be provided, including:
    • Access to technical assistance relevant to business operations (e.g., product development, process improvement, digital tools, regulatory compliance).
    • Mentorship and advisory support connecting small business owners with qualified volunteers, consultants, or professionals.
    • Guidance on navigating state and federal programs, including financing, grants, and incentives.
  • Mechanisms for outreach and enrollment:
    • How small businesses can enroll in the exchange.
    • Eligibility criteria (e.g., size of business, location, industry focus).
  • Program governance and coordination:
    • Potential partnerships with state agencies, economic development organizations, higher education institutions, and private sector partners.
    • Roles and responsibilities of program staff and advisory boards, including stakeholder representation.
  • Funding and administration:
    • Allocation of state funds, grants, or appropriations to support SBTAX operations.
    • Reporting and accountability requirements, including performance metrics and periodic reporting to the legislature.
  • Metrics and evaluation:
    • Performance indicators to assess impact, such as number of businesses served, impact on revenue/job creation, and satisfaction of participants.
  • Compliance and oversight:
    • Applicable state procurement, conflict-of-interest, and ethical guidelines for program providers and volunteers involved with SBTAX.

Who would be affected

  • Small business owners and entrepreneurs seeking technical assistance and mentorship.
  • Vermont-based service providers offering business advisory services, including consultants, mentors, and professional firms.
  • Local economic development organizations, chambers of commerce, and higher education institutions involved in delivering or coordinating technical assistance.
  • State agencies and departments tasked with economic development, small business support, and workforce initiatives.

Procedural and timeline aspects

  • Date of introduction and first reading: February 25, 2025.
  • Referral: Committee on Commerce and Economic Development for study and markup.
  • Next steps (typical process): The bill would move through committee hearings, potential amendments, and floor votes in the Vermont House, then on to the Senate if passed by the House. If enacted, implementation would follow after any required rulemaking, staffing, and funding allocations.

Potential impacts and considerations

  • Positive outcomes:
    • Greater streamlined access to technical assistance for small businesses, potentially accelerating start-up success and growth.
    • Improved coordination among existing programs and providers, reducing redundancy.
    • Enhanced rural and underserved market reach through centralized exchange.
  • Considerations to monitor:
    • Adequacy and stability of funding to sustain the exchange.
    • Clarity on governance structure and oversight to ensure effectiveness and accountability.
    • How services are prioritized across industries and geographic areas.
    • Measures to protect participant data and manage conflicts of interest among volunteers and providers.

If you’d like, I can tailor this summary to emphasize specific sections (e.g., funding details when the official fiscal note is available) or compare it with similar programs in other states.

Compiled from official sources — confirm details with the bill’s official record.

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