An act relating to creating a Rural Business Technical Assistance Exchange

This bill creates a Rural Business Technical Assistance Exchange to help small and mid-sized businesses in rural Vermont access professional and technical support. The program would be run by regional development corporations and offer services through in-house Business Navigators, partnerships with organizations serving historically underserved populations, and grants to private providers for assistance in areas like financial management, digital strategies, and technology consulting. To qualify, businesses must be for-profit entities located in rural Vermont with at least $5,000 in average annual revenue, and grants for professional services are capped at $5,000 per business with a 50 percent match required if the owner's income exceeds the federal labor market area average. The regional development corporations must also maintain a directory of qualified technical assistance providers and publish annual reports on the Exchange's activities and performance.