This bill directs the Small Business Administration to increase its focus on promoting employee ownership and cooperative business models. Specifically, it requires the SBA Administrator to participate in working groups and meetings hosted by other federal agencies that focus on cooperatives and employee ownership, and to expand outreach efforts to investors and limited partners involved in small business investment companies. The bill also establishes a timeline requiring the SBA to implement these requirements within 180 days of the law taking effect through its existing Small Business Employee Ownership and Cooperatives Promotion Program. The legislation affects small business owners, employees considering ownership structures, and investors in small businesses. No new funding amounts are specified in the bill, as it directs the SBA to use its existing programs and resources to enhance outreach and education on employee ownership options.
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