The bill H.332 proposes the establishment of the Small Business Technical Assistance Exchange in Vermont, aimed at providing grants and professional assistance to small- and mid-sized businesses. The Exchange will be operated by regional development corporations and will offer support through in-house Business Navigators, partnerships with organizations that focus on outreach to historically marginalized populations, and grants for various professional services such as financial management, digital strategies, and legal consulting. To qualify for assistance, businesses must be for-profit entities located in Vermont with a minimum average annual revenue of $5,000. Additionally, businesses with owners whose income exceeds the federal labor market area will need to provide a 50% match for the costs of services funded by the grant.

The bill also includes an appropriation of $1,250,000 from the General Fund for fiscal year 2026 to support the services provided through the Exchange. Furthermore, the regional development corporations are tasked with maintaining a directory of technical assistance providers and conducting outreach to promote participation among businesses in rural areas and those owned by marginalized groups. The Exchange is required to publish performance reports biannually, and the act is set to take effect on July 1, 2025.