Capstone and Community Action network urge funding to expand microbusiness support, VITA tax sites and financial counseling

Capstone Community Action and partners from the statewide Community Action Network told the Vermont House Committee on Commerce and Economic Development on Jan. 24 that three economic-development programs — microbusiness development, VITA tax preparation and accredited financial counseling — provide ‘‘ladders out of poverty’’ but need additional and sustained state funding to expand reach.

Liz Sharp, director of community economic development and food security at Capstone, described the network’s work across the state and presented statewide metrics: community action microbusiness counselors helped about 700 Vermonters last year with coaching and workshops, supporting 73 business starts and 53 expansions; the network reported filing more than 5,000 tax returns through VITA; and the microbusiness program has helped more than 2,100 Vermont businesses historically and leveraged roughly $15 million in financing, Sharp said.

“If you are someone who is interested in starting in small…