Article Contents
Kingston The Economic Development Corporation has announced that 12 students will receive grants of up to $3,000 to help get their unique business ideas off the ground.
Ad 2
Article Contents
Summer Company is funded by the Ontario government to provide mentoring and up to $1,500 in start-up capital to young entrepreneurs ages 15-29.
Each candidate will receive up to $1,500 at the end of a successful summer. Criteria for success include meeting all requirements needed to run a business, including sustainable implementation of the proposed business, participating in coaching and training, meeting with a local business mentor, and committing at least 35 hours of work time each week.
Norman Musengimana Kingston The Ministry of Economic Development’s manager of startups and entrepreneurship says while it’s not necessarily common for people this young to own a business, it’s important to get the next generation thinking about entrepreneurship to prepare for Canada’s economic future.
Article Contents
Ad 3
Article Contents
He says the summer companies are aimed at giving young people the tools to prepare them to take over businesses from a generation of managers who are leaving the workforce.
“Over the next 10 years, there will probably be $2 billion worth of assets going through a transition period where owners are exiting and doing succession planning,” Musengimana said. “We want young people who are interested in running a business to at least get a taste of what it’s like. There are a lot of people who want to retire from business, but rather than some of these businesses closing down because no one is interested, it’s about whether we as a community or as a nation are ready to take over to some degree.”
Ad 4
Article Contents
Musengimana says the amount of money sponsored as part of Summer Company won’t be enough to fill the immediate hole it will leave for Canadian businesses, but it’s important for communities to step up.
upon Kingston The economic development website highlights 12 businesses run by young entrepreneurs. Kingston A variety of things are listed as funding programs, from lawn care to photography to raising chickens.
Each selected company will also participate in a showcase in late August to explain what they have accomplished and learned throughout the process.
Summer Company Kingston Since 2001.
Owen Fullerton is a Local Journalism Initiative reporter for YGK News. The Local Journalism Initiative is funded by the Government of Canada.
Article Contents
