Sens. Scott, Shaheen introduce bill to help senior business owners

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U.S. Sens. Tim Scott (R-SC) and Jeanne Shaheen (D-NH) introduced Wednesday legislation designed to help businesses owned by seniors.

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The Golden-preneurship Act creates a new “Golden Entrepreneurs” training program to equip older entrepreneurs with the necessary tools to help their businesses. It also requires the Small Business Administration (SBA) to track the loans and grants provided to older Americans with the goal of providing better support to senior business leaders.

“The American Dream doesn’t stop at retirement,” Scott, ranking member on the Special Committee on Aging, said. “Millions of Americans have the potential to continue building on their careers by re-entering the workforce using the life experience they’ve cultivated over the years. The Golden-preneurship Act will equip older entrepreneurs with the tools necessary to take their ideas from the drawing board to reality.”

The bill has been endorsed by the Center for American Entrepreneurship, U.S. Chamber of Commerce, The National Association of Insurance & Financial Advisors, The ESOP Association, America’s SBDC, PC Action, The Economic Innovation Group, and the Greenville Chamber of Commerce.

“As New Hampshire recovers from the financial fallout of the pandemic, our senior entrepreneurs have a wealth of experience and talent that can help us build back stronger than ever,” Shaheen said. “I’m proud to help lead a bill that connects senior entrepreneurs with new training opportunities so they can build businesses and strengthen our communities – no matter their age. I’ll continue fighting to ensure Granite Staters in their golden years are empowered and included in our economy.”

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