Ontario has committed $2 million to Futurpreneur Canada, aiming to support 320 young entrepreneurs aged 18 to 39 with access to financing, mentorship, and programming that can help them launch or develop their businesses. Small businessesemploy nearly two million people and making up 98 per cent of all Ontario businesses, and are critical to the province’s economy.
“This funding will ensure home grown businesses succeed, while helping us create the strongest economy in the G7,” said Stéphane Sarrazin, Parliamentary Assistant to the Minister of Economic Development, Job Creation and Trade.
Since 2021, the province has already funneled $9 million through Futurpreneur, helping to launch nearly 1,200 businesses and create over 4,500 jobs across various communities, including Northern and rural regions.
Acccording to Karen Greve Young, CEO of Futurpreneur Canada:
“Young entrepreneurs are the backbone of Ontario’s future… By investing in initiatives like Futurpreneur Canada, we are giving the next generation of business leaders the tools they need to succeed. These businesses will protect our economy, create good-paying jobs and build thriving communities across the province.”
Futurpreneur Canada offers collateral-free loans up to $75,000, along with two years of mentorship and in-person support. Itsflagship loan initiative, the Core Startup Program, helps youth aged 18 to 39 launch and grow their business.
