The proposed bill aims to establish an Office of Entrepreneurship within the North Dakota Department of Commerce, which will focus on enhancing policies and programs that support the growth of entrepreneurship across various demographic and geographic segments. The office will be responsible for collaborating with stakeholders to improve the skills and resources available to entrepreneurs, providing technical support, and assisting businesses that have been operational for less than five years in navigating state agency interactions.

Additionally, the Office of Entrepreneurship is required to submit an annual report to the legislative management by August each year. This report will summarize the office's accomplishments, events held to foster collaboration, the number of participating businesses, and recommendations for improving the entrepreneurial landscape in the state. The bill also stipulates that all financial records related to the office's activities will be considered exempt records under existing law.