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ONTARIO 🧑🔎💵 Ontario Supporting Young Entrepreneurs

Tuesday, 07 May 2024 08:00.AM

- Summer Company program helping next generation launch new businesses -

The Ontario government is providing an additional investment of $1.5 million to bolster its Summer Company program, helping an additional 250 young people start and grow a business. The investment will increase total funding for the program to more than $4.7 million over the next two years.

“Ontario continues to help the next generation of youth-led businesses through the Summer Company entrepreneurship program,” said Nina Tangri, Associate Minister of Small Business. “This exciting program expands the pipeline of entrepreneurs by providing more students with the training and supports they need to launch and run their own summer business. It’s good for our young people and fantastic for Ontario’s future economy.”

The Summer Company program provides students between the ages of 15 and 29 with at least 12 hours of business training, one‐on‐one mentoring and grants up to $3,000 to start a full-time business. Over the past five years, the program, delivered through Small Business Enterprise Centres, has helped launch over 1,700 businesses across Ontario.

“Small businesses and entrepreneurs, including youth entrepreneurs, are a critical part of Ontario’s plan to grow the economy,” said Peter Bethlenfalvy, Minister of Finance. “Our government is proud to support our province’s young people through the Summer Company program as they start and grow their careers.”

Small businesses play a critical role in our communities and are an essential part of Ontario's economy, employing over two million people. Ontario offers a range of programs and supports to assist entrepreneurs towards starting and growing new companies, including Regional Innovation Centres, Intellectual Property Ontario, Starter Company Plus and tailored options, advice and business analysis through business advisory services.

Applications for the 2024 Summer Company program are being accepted until May 17, 2024.

Quick Facts

• The new Summer Company funding of $1.5 million is in addition to the annual $1.6 million already allocated to the program.
• Ontario’s 47 Small Business Enterprise Centres provide entrepreneurs access to advisors, programs and services, as well as learning opportunities for small business owners specific to their region.
• The Digitalization Competence Centre is a $10 millio investment that provides small businesses support with digital literacy, accelerating digital adoption, and enhancing technological capacity.


SOURCE: Ontario Ministry of Economic Development, Job Creation and Trade

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