Assembly Commerce and Economic Development Committee Statement to Assembly Joint Resolution, No. 51 (2023)

Summary

The New Jersey Assembly Commerce and Economic Development Committee's statement to Assembly Joint Resolution No. 51, dated May 18, 2023, which reports the resolution favorably. Under the joint resolution, the second week of June of each year becomes "Kids Entrepreneurship Awareness Week." The statement describes entrepreneurship as a pathway to wealth and prosperity, particularly for people in low-income communities, and calls on New Jersey parents, teachers and community leaders to prepare the State's youth. It notes that the bill was prefiled for introduction in the 2022-2023 session and is identical to Senate Joint Resolution No. 22.

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ASSEMBLY COMMERCE AND ECONOMIC DEVELOPMENT COMMITTEE

STATEMENT TO

ASSEMBLY
JOINT RESOLUTION No. 51

STATE
OF NEW JERSEY

DATED: MAY 18,
2023

The Assembly Commerce and Economic Development
Committee reports favorably Assembly Joint Resolution No. 51.

This Joint Resolution designates the second week of
June of each year as “Kids Entrepreneurship Awareness Week.”

Entrepreneurship is the capacity and
willingness to develop, organize, and manage a business venture, along with any
of its risks, in order to make a profit . Through the power of ownership, entrepreneurs are their own
bosses, free to design jobs that are the most fulfilling, flexible, and
meaningful for them. Entrepreneurship holds great potential in establishing an
individual’s pathway to wealth and prosperity, particularly for people in low-income
communities.

Despite the many benefits of
entrepreneurship, young people rarely receive any information about business
ownership as a career option or any formal education on how to achieve such a
goal . Many experts believe that the skills of entrepreneurship must be
developed over time through experience and instruction. Therefore, it is vital
for New Jersey parents, teachers, and community leaders to work together to prepare the State’s youth to be responsible, enterprising
individuals, immersing them in real life learning environments where they can
take risks, manage the results, and learn from the outcome.

This bill was prefiled for introduction in the
2022-2023 session pending technical review. As reported, the bill includes the
changes required by technical review, which has been performed.

As reported by the committee, this bill is identical
to Senate Joint Resolution No. 22, which was also reported by the committee on
this date.

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