State announces $4.8 million over two years to expand Starter Companies Plus program
Ontario will spend $4.8 million over two years to expand its Starter Company Plus program, which helps aspiring entrepreneurs launch their first businesses.
This new funding will allow the program to expand and help an additional 500 entrepreneurs bring their ideas to life.
“Ontario entrepreneurs are vital to our economy, and our goal is to continue to provide the right support and tools for our province’s businesses to thrive,” Nina Tangri, Associate Minister of Small Business, said in a news release. “In addition to grant funding, the Starter Company Plus program will provide training, mentoring and business advice to ensure people have the support they need to grow their businesses.”
The program, offered through the state’s Small Business Enterprise Center, provides entrepreneurs aged 18 and older with individualized support, access to workshops, seminars and networking events, as well as grants of up to $5,000 to help start or grow their businesses.
According to the government, the program has supported more than 5,500 businesses over the past five years, creating more than 6,300 jobs across Ontario, and this new investment increases the program’s total funding to $6.5 million per year.
“Ontario’s next generation of entrepreneurs will help define the province’s bright economic future, and it’s our job to ensure they have the tools they need to succeed in tomorrow’s economy,” Finance Minister Peter Bethlenfalvy said in a news release. “By continuing to invest in supporting the Starter Companies Plus program, our government is one step closer to securing Ontario’s position as a world-class business location.”
To be eligible, applicants must be 18 years of age or older, an Ontario resident and a Canadian citizen/permanent resident, not attending school full-time, and able to contribute at least 25 per cent of the grant amount.
— Sudbury.com
