This bill aims to establish the Office of Entrepreneurship within the West Virginia Secretary of State's Office, as outlined in the newly added Article 18 of the Code of West Virginia. The Office will provide support to businesses during their initial years, specifically focusing on those in operation for less than five years. Its responsibilities include strengthening policies that promote entrepreneurship, collaborating with stakeholders to offer technical support, and serving as a resource for first-time entrepreneurs to help them start, finance, and sustain their businesses.

To facilitate the operations of the Office of Entrepreneurship, the bill allocates $350,000 for the fiscal years 2027 and 2028 and authorizes the hiring of two full-time employees during this period, with the potential for expansion after fiscal year 2028. This initiative is designed to bolster the entrepreneurial ecosystem in West Virginia by providing essential resources and support to new businesses.

Statutes affected:
Introduced Version: 31D-18-1, 31D-18-2