Bill > HB521

This bill establishes the Office of Entrepreneurship as a new state agency temporarily housed in the Governor's office and permanently located within the Department of Business, Economic Development, and Tourism starting July 1, 2027. The office will be led by a director appointed by the governor who has professional experience in business, marketing, or economic development. The office's primary responsibilities include strengthening entrepreneurship policies, providing technical support to new businesses, serving as a point of contact for businesses less than five years old, encouraging state contracts for young businesses (aiming for 5% of total contracts), helping entrepreneurs navigate regulatory requirements, and advocating for entrepreneurs in legislative and administrative processes. The bill also modifies the Hawaii Film and Creative Industries Development Special Fund to include a partnership program with the new Office of Entrepreneurship. Recognizing Hawaii's high business failure rate (50% of businesses close within six years and 25% fail in the first year), the legislation aims to support and improve the state's entrepreneurial ecosystem by creating a dedicated office to assist and promote new businesses across various demographic segments and geographic areas. The bill includes a requirement for an annual report to the legislature detailing the office's progress, contract awards, and recommendations for improving entrepreneurship in the state.

Business and Industry

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=521&year=2026