Congratulations! Your business idea is now a reality! You are likely exhausted but elated. With your business up and running, you can still rely on the Canadian Youth Business Foundation (CYBF) and our post-launch resources to help you stay focused, navigate challenges, and stay on the road to long-term success.
Learning from others who are in similar situations can help you address challenges and opportunities that arise as you conduct business. CYBF offers Entrepeer, a peer-to-peer networking and mentoring initiative for young entrepreneurs, mentors, partners and volunteers. Information is shared through networking events, our online community, e-newsletter and affinity program. Entrepeer provides you with invaluable opportunities to build relationships, share knowledge, and gain insights from like-minded individuals, creating a robust community of business champions.
You will find great tips and information in our online Online Business Resource Centre. In addition to a comprehensive section on how to grow your business, you’ll also find extensive resources on a variety of topics that can be beneficial at any stage of your business, including links to government resources and information about skilled trades in various provinces.
Monthly Loan Repayments
Each month, you will need to make payments on your loans with CYBF and the Business Development Bank of Canada (if applicable). It is extremely important that these loan repayments are made in accordance with your financing agreement to maintain your funding position.
Every three months, CYBF checks in with our entrepreneurs to see how your business is doing and how you are benefiting from your mentor. We gather this information through status updates, which give you and your mentor the opportunity to share your successes, challenges, concerns and ideas for enhancement. The update takes about 10 minutes to complete and also provides you with the opportunity to reflect on the last three months’ activities, achievements and plans for the future.
CYBF will send a status update reminder by email at the end of each quarter so you’ll always know when your updates are due and have the instructions at your fingertips.