April 28, 2022


Washington, D.C. — Today, the U.S. Chamber of Commerce praised the introduction of the Golden-preneurship Act. This bipartisan legislation, introduced by U.S. Representatives Elise Stefanik (R-NY-21), Young Kim (R-CA-39), Dean Phillips (D-MN-03), and Jason Crow (D-CO-06) would strengthen programs that help senior entrepreneurs start and grow their businesses.  

Over one million older Americans lost their jobs during the COVID-19 pandemic and business ownership provides income opportunities for people over the age of 60, while strengthening our economic recovery.  

“Small business ownership provides an incredible opportunity for older Americans to earn income, fulfill lifelong passions, and make meaningful contributions to their local economies,” said U.S. Chamber of Commerce Vice President of Small Business Policy Tom Sullivan. “The Golden-preneurship Act would make this a reality for even more seniors. We thank Reps. Stefanik, Kim, Phillips, and Crow for their leadership and look forward to partnering with them to pass this important legislation.” 

The U.S. Chamber sent a letter to the sponsors applauding the introduction of the Golden-preneurship Act. 

The legislation would bolster the resources currently offered by SCORE and America’s SBDC, two organizations that partner with the U.S. Small Business Administration (SBA) to help entrepreneurs, by creating a new curriculum specifically for senior-owned small businesses. The legislation would also bring more accountability and transparency to loans and grants provided to older Americans. 

In July, the U.S. Chamber sent a letter in support of the Senate version of the Golden-preneurship Act.