Hirono, colleagues introduce SPARK Act to supercharge minority entrepreneurship

US Sen. Mazie Hirono of Hawaiʻi joined colleagues in introducing the Strengthening Place-based Access, Resources, and Knowledge (SPARK) Act to spur entrepreneurship and increase access for underserved entrepreneurs nationwide.

The SPARK Act would create the SPARK Program to provide grant funding to community organizations that support small business accelerators and incubators, and the SPARK Financing Program to provide grants and low-cost loans directly to underserved small businesses.

In addition to Hirono, Senate Committee on Small Business and Entrepreneurship Ranking Member Ed Markey (D-MA), Sen. Cory Booker (D-NJ), and Rep. Ayanna Pressley (D-MA) co-introduced the act.

“Hawaiʻi is the most diverse state in the union and our small business owners and entrepreneurs reflect this diversity. Ensuring that these businesses have the support they need is critical to securing Hawaii’s economic future,” said Hirono. “The Small Business Administration was designed to do just that—helping communities who otherwise may be excluded from economic opportunity to have the resources they need to thrive. This legislation builds on existing infrastructure to create a new program that provides grants to underserved entrepreneurs. I will keep fighting to secure long-term solutions that will support our next generation of business leaders.” 

In December, Hirono raised alarms about the Small Business Administration’s audits of the 8(a) Business Development program which targeted many small, socially and economically disadvantaged businesses, which often rely on government contracts to stay in business and keep their staff employed. Last year, she also introduced the Native American Entrepreneurial and Opportunity Act to increase the representation and financial resources available to Native American-owned businesses, which include tribally-owned, Alaska Native-owned, and Native Hawaiian-owned businesses.