SPARK Act

Progress

Timeline

• Mar 24Referred to the House Committee on Small Business.

Summary

**HR 8063 Summary** This bill would modify the Small Business Act to promote business development in underserved communities. **What it does:** The bill aims to create and strengthen "entrepreneurial ecosystems" - networks of resources, mentorship, and support systems that help new businesses start and grow in communities that currently lack these advantages. **Who it affects:** - Entrepreneurs and small business owners in underserved areas - Communities with limited access to business resources and capital - Organizations that provide small business support services **What would change:** The bill would likely establish new programs or expand existing ones to provide: - Enhanced access to business mentorship and training - Improved funding opportunities for startups in these areas - Better connections between entrepreneurs and business support networks - Resources specifically targeted to communities that have historically had fewer business development opportunities The bill is currently under review in congressional committee and has not yet been voted on or enacted into law.

How This Affects You