This bill proposes the creation of an "Office of Entrepreneurship" within the North Dakota Department of Commerce, aimed at enhancing the support and growth of entrepreneurship across the state. The office will be responsible for developing policies and programs that promote entrepreneurship, collaborating with stakeholders to improve the skills and resources available to entrepreneurs, and assisting businesses that have been operating for less than five years in their dealings with state agencies. The bill defines key terms such as "business," "entrepreneur," and "state agency" to clarify the scope of the office's responsibilities.

Additionally, the Office of Entrepreneurship is mandated to provide an annual report to the legislative management by August each year. This report will summarize the office's activities, events held to foster collaboration, the number of participating businesses, and recommendations for improving the entrepreneurial landscape in North Dakota. Furthermore, the bill stipulates that all financial records related to the office's operations will be considered exempt records under existing law, ensuring confidentiality for sensitive financial information.