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PM announces new investment to help young entrepreneurs start businesses and create jobs

18 March 2009

TORONTO

PM announces new investment to help young entrepreneurs start businesses and create jobs

Young entrepreneurs who want to start businesses and create jobs will have better access to start-up loans and other business supports thanks to a new investment in the Canadian Youth Business Foundation (CYBF) contained within the Harper Government’s Economic Action Plan.

"We are proud to put our faith in Canada’s next generation of innovators, job-creators, and entrepreneurs," said Prime Minister Stephen Harper, who announced details of this funding following a meeting with young entrepreneurs in Toronto. "This investment will help the business leaders of tomorrow create new and better jobs for Canadians today."

The Canadian Youth Business Foundation is a national charity providing start-up mentoring, financing and business resources to help young Canadians, aged 18-34, create their own successful businesses.

To date, the CYBF has helped fund 2,800 entrepreneurial companies. These businesses have created $300 million in sales revenue, $69 million in tax revenue, $33 million in export revenue, and more than 15,000 new jobs. As part of Canada’s Economic Action Plan, the Harper Government will invest $10 million in the CYBF to help them build on these successes.

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