In a move aimed at bolstering entrepreneurship and driving economic growth, Minnesota has announced several new business laws set to take effect on February 22, 2026.One of the key changes includes the establishment of a Small Business Assistance Fund, which will provide financial support and resources to minority-owned businesses and startups in underserved communities. This fund, totaling $5 million, aims to level the playing field for entrepreneurs who may face barriers to accessing traditional sources of funding.In addition, the state has also revised its business licensing procedures to streamline the process for small businesses. The new laws will eliminate unnecessary bureaucratic hurdles and reduce the time and cost of obtaining necessary licenses and permits. This move is expected to help small businesses get off the ground more quickly and efficiently.Furthermore, Minnesota has implemented a new tax incentive program for businesses that demonstrate a commitment to sustainable practices. Companies that invest in eco-friendly initiatives such as energy efficiency, waste reduction, and renewable energy will be eligible for tax breaks and other financial incentives. This initiative aligns with the state's goal of becoming a leader in sustainability and environmental stewardship.Governor Mark Johnson expressed his enthusiasm for the new laws, stating, "These changes represent a significant step forward in supporting our state's entrepreneurs and small businesses. By providing targeted assistance, streamlining processes, and incentivizing sustainable practices, we are laying the groundwork for a thriving business environment in Minnesota."Industry experts have praised the new laws as a positive development for Minnesota's business community. Some have predicted that these measures will attract increased investment, spur innovation, and stimulate job creation across the state.Overall, the enactment of these new business laws signals Minnesota's commitment to fostering a vibrant and competitive business landscape. With a focus on inclusivity, efficiency, and sustainability, the state is paving the way for a prosperous economic future.