That’s the slogan for the Canadian Youth Business Foundation (CYBF), Canada’s ‘Go To’ place for entrepreneurship.
The national charity has a long history of helping young people make their first steps into small business ownership, investing in more than 3,500 start-ups since its inception in 1996. Through CYBF offices and partnerships with local organizations, support is available to young people between the ages of 18 and 34 all across Canada.
CYBF prides itself on being available to those who may not be able to receive funding from traditional methods. The charity chooses to focus on character, rather than collateral when reviewing business plans and loan applications (though a good credit rating is a requirement.) Working in conjunction with the Business Development Bank of Canada, successful CYBF applicants can receive up to $30,000 in seed financing, a much-needed boost to any aspiring entrepreneur with dreams of opening their own business.
CYBF support goes beyond just start-up financing, although the investment is obviously important. Those involved in the program also benefit from pre- and post- launch coaching from the charity’s “Entrepreneur-In-Residence,” online resources, start-up tools and a business mentor that is matched with them for a minimum of two years.
Mentors and entrepreneurs are placed together based on location, business and personality or mentoring style. While some entrepreneurs might be matched with a mentor in a similar business field, others are paired based on complimentary skills. All pairings based on a series of interviews between CYBF, the potential mentor and the entrepreneur.
“At CYBF, we know that the first two years of a start-up are the hardest for any new entrepreneur,” said Vivian Prokop, chief executive office of CYBF. “That’s why our program provides invaluable business mentors, who can help guide these new business owners through the challenges and obstacles of the entrepreneurial journey. Having someone with business experience available to answer questions and offer advice and encouragement is an incredible means of support. These resources coupled with start-up financing are why CYBF has been able to help more than 3,500 young entrepreneurs since 1996.”
Included among those entrepreneurs are Axel Arvizu and Juan Roman, founders of the successful La Tortilleria restaurants and tortilla products; Nitasha Bhola and Anuj Madhok of Haute Culture, a consulting firm specializing in helping organizations overcome intercultural stress points; and Saskia and Anthony Stille of English School of Canada, an English-as-a-Second-Language school for visiting international students. All three businesses are based in the GTA.
“Canada is full of risk-takers, producers and innovators, and more needs to be done to encourage these great ideas from our country’s young people,” continued Prokop. “We are proud of the fact that our organization has such a varied portfolio of successful businesses, including innovative technology developers, restaurants, immigration consultants and retail outlets, to name only a few. We need more small business owners to fill the gap left in communities when people retire, and we need more cutting edge ideas to help Canada maintain its position on the world stage.”
