An act relating to creating the Office of Entrepreneurship and other programs pertaining to entrepreneurs

This bill creates a new Office of Entrepreneurship within the Agency of Commerce and Community Development to support new and small businesses in Vermont. The office will focus on strengthening policies for entrepreneurs, providing technical assistance, helping businesses under five years old navigate state agencies, and ensuring at least five percent of state contracts go to these newer businesses. Additionally, the bill eliminates all first-year registration fees for new businesses and requires an annual report on contract awards to businesses under five years old, including data on demographic representation. A third provision directs the Agency of Commerce and Community Development to study and recommend ways to reduce regulations on home-based food businesses while protecting public health. The legislation takes effect on July 1, 2024.