Today’s federal budget confirmed the Government of Canada’s commitment to young entrepreneurs through a continued confidence in the work of the Canadian Youth Business Foundation (CYBF).
With today’s budget, Finance Minister Jim Flaherty confirmed $20 million over two years in CYBF funding, an investment that will help the national charity continue to expand in order to meet the growing demand for start-up assistance. CYBF provides character-based start-up financing and world-class mentoring from business expert volunteers to young Canadians, enabling them to launch more than 1,000 new businesses in the next two years. These businesses are expected to generate more than 6,700 new Canadian jobs, reinforcing both short-term recovery and Canada’s long-term economic growth.
“We are grateful for the ongoing partnership we have forged with the Government of Canada, in this, the Year of the Entrepreneur,” explains Vivian Prokop, chief executive officer of CYBF, widely considered the go-to organization driving youth entrepreneurship in Canada. “This contribution will allow CYBF to continue to support the ideas, the innovation and the entrepreneurial spirit of Canada’s youth, ultimately creating jobs and strengthening our economy.”
Earlier this year, The Government of Canada designated 2011 as Year of the Entrepreneur, in recognition of the critical role that entrepreneurship plays in building a strong and competitive economy. The organization will also rely on funding from non-federal government sources in the public and private sectors in order to help meet the ever-increasing demand for its programs from coast to coast to coast.