Bill > HB1442

This bill establishes the Office of Entrepreneurship, a new state agency designed to support and promote business development in Hawaii. The office will be initially placed within the Governor's office and permanently transferred to the Department of Business, Economic Development, and Tourism in 2027. The director will be appointed by the governor and will have responsibilities including supervising entrepreneurship programs, administering funds, assessing economic development policies, and advising agencies on entrepreneurship-related initiatives. The office's key functions include strengthening entrepreneurship policies, providing technical support to new businesses, serving as a point of contact for businesses under five years old, encouraging state contracts for young businesses, 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 new program supporting businesses in film, media, electronic sports, and creative industries that have been operating for five years or less. Additionally, the bill requires an annual report to the legislature detailing the progress and impact of these entrepreneurship efforts, including contract awards, business demographics, and recommendations for improvement. The legislation comes in response to Hawaii's high business failure rate, with 50% of businesses closing within six years and over 25% failing in their first year, the highest first-year failure rate in the nation.

Budget and Finance, Business and Industry

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=1442&year=2026