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Virginia Administrative Code
Title 7. Economic Development
12/31/2024

7VAC13. Department of Small Business And Supplier Diversity

VAC AGENCY NO. 13

DEPARTMENT OF SMALL BUSINESS AND SUPPLIER DIVERSITY

AGENCY SUMMARY

Chapter 482 of the 2013 Acts of Assembly created the Department of Small Business and Supplier Diversity and abolished the Department of Minority Business Enterprise and the Department of Business Assistance effective January 1, 2014.

The Director of the Department of Small Business and Supplier Diversity has adopted regulations that pertain to the subject of the act (7VAC13-20).

The Department of Small Business and Supplier Diversity is responsible for promoting small, women-owned, and minority-owned businesses; coordinating the state government programs that affect the establishment, preservation, and strengthening of these businesses; and establishing a center for the development, collection, summarization, and dissemination of information to promote procurement from small, women-owned, and minority-owned businesses. Code of Virginia, Title 2.2, Chapter 16.1, Article 1.

The department manages the SWaM Microloan Fund for Small, Women-Owned and Minority Owned (SWaM) businesses created pursuant to § 2.2-2311.1 and, in cooperation with the Small Business Financing Authority, determines the qualifications, terms, and conditions for the use of this fund. Code of Virginia, Title 2.2, Chapter 16.1, Article 1.

The department is authorized to implement any remediation or enhancement measures for small, women-owned, or minority-owned businesses as may be authorized by the Governor pursuant to subsection C of § 2.2-4310 and develop regulations, consistent with prevailing law, for program implementation. Such regulations shall be developed in consultation with the state agencies with procurement responsibility and promulgated by those agencies in accordance with applicable law. Code of Virginia, Title 2.2, Chapter 16.1, Article 1.

The department serves as the liaison between the Commonwealth's existing businesses and state government in order to promote the development of Virginia's economy. Code of Virginia, Title 2.2, Chapter 16.1, Article 1.

The Director of the department may adopt regulations to implement certification programs for small, women-owned, and minority-owned businesses and employment services organizations. Code of Virginia, Title 2.2, Chapter 16.1, Article 1.

The department is responsible for administration of the Small Business Jobs Grant Fund Program and the Small Business Investment Grant Fund. Code of Virginia, Title 2.2, Chapter 16.1, Article 2.

The department administers a comprehensive permitting program to serve as a single access point to aid entrepreneurs in filling out the various permit applications associated with establishing a small business in Virginia. Code of Virginia, Title 2.2, Chapter 16.1, Article 3.

The department is located at 101 N. 14th Street, Richmond, VA 23219. Internet address: http://www.sbsd.virginia.gov/

Rev. 07/2024

 

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