The bill H.257 proposes the establishment of the Office of Entrepreneurship within the Agency of Commerce and Community Development in Vermont. This new office aims to support entrepreneurs by developing policies and programs that address their needs across various demographic segments and geographic areas. Key responsibilities of the office include enhancing learning and skills for entrepreneurs, providing technical support, facilitating interactions with state agencies for businesses in operation for five years or less, and promoting the allocation of at least five percent of state contracts to these newer businesses.

Additionally, the Office of Entrepreneurship is required to submit an annual report to the General Assembly starting March 1, 2027. This report will detail the number and dollar amount of state contracts awarded to businesses in operation for five years or less, along with demographic breakdowns, recommendations for improving access to contracts, and insights into the overall state of entrepreneurship in Vermont. The act is set to take effect on July 1, 2025.