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In a move aimed at bolstering the state's small business sector, Vermont Governor John Smith signed a new piece of legislation into law on Thursday, May 27, 2026. The bill, known as the Small Business Empowerment Act, aims to provide additional support and resources to small businesses in the state.One of the key provisions of the new law is the establishment of a Small Business Assistance Fund, which will provide low-interest loans and grants to qualifying small businesses to help them grow and expand. Additionally, the legislation includes measures to streamline the permitting process for small businesses, making it easier for them to navigate complex regulatory requirements.Governor Smith spoke at a press conference following the signing of the bill, highlighting the importance of small businesses to Vermont's economy. "Small businesses are the backbone of our economy, and it is crucial that we provide them with the support they need to thrive and succeed," said Smith. "I am confident that this new legislation will help small businesses in Vermont grow and create jobs in our communities."The Small Business Empowerment Act has received widespread support from business groups and advocates in the state. The Vermont Small Business Association praised the legislation for its focus on providing tangible support to small businesses. "This new law is a game-changer for small businesses in Vermont," said Jane Doe, President of the Vermont Small Business Association. "By providing access to capital and streamlining the permitting process, this legislation will help small businesses succeed and grow."In addition to the Small Business Empowerment Act, the Governor also announced the formation of a Small Business Task Force, which will work to identify additional ways to support small businesses in Vermont. The Task Force will be made up of representatives from government agencies, business organizations, and small business owners.Overall, the new legislation signals a positive step forward for small businesses in Vermont, providing them with the tools and resources they need to thrive in an increasingly competitive business environment. With the Small Business Empowerment Act now in effect, small businesses in Vermont can look forward to a brighter future filled with opportunities for growth and success.