Are you new to Canada? Are you between 18-39 years old with a great business idea and looking for guidance to launch your business? The Canadian Youth Business Foundation (CYBF) is the ‘go to’ resource for young entrepreneurs. We know the challenges associated with bringing a business idea to life, and we can help.
CYBF’s Newcomer Program gives you all the benefits of CYBF’s other programs including start-up coaching, financing, mentoring and business resources. On top of that, it ensures that you have specialized support to better understand Canadian business customs and to overcome language and cultural challenges. Plus, you do not need to have a credit history in Canada in order to receive financing. If you have already established credit history in Canada, you may be eligible for our Start-Up Program.
Specifically, the program offers:
- A network of community partners are located across the country that will direct you to additional small business resources in your area, help you establish and finalize a business plan that meets all application criteria and guide you through the application process.
- Flexible financing that doesn’t require a credit history – up to $7,500 from CYBF and up to $7,500 in additional financial support from the Business Development Bank of Canada (BDC)
- CYBF’s world-class mentoring program matches you with a mentor who has the knowledge and expertise to help you make the best decisions for your new business in Canada. Be sure to review our Mentoring Checklist for Newcomer Entrepreneurs to help you ask questions about operating a business in Canada.
- CYBF entrepreneurs-in-residence that can provide you with support and guidance in all areas relating to the start of a new business.
- Our online Online Business Resource Centre where you will find information and insights about planning, starting and growing your business.
- Access to Entrepeer, our peer-support network that connects you online and face-to-face with other entrepreneurs as well as mentors and business champions from across Canada.
Taking over an existing business? We help with that too!
Applicants for the Succession Program must meet the same criteria as start-up loan applicants and attain 51 per cent ownership of the company by the fifth year of operation. (For financing through CYBF’s Newcomer Program, applicants must have controlling ownership at inception).