BDC launches the Aboriginal Youth Lending Circle

Ponoka Outreach High School students will benefit from a total of five thousand dollars in financing for their business ideas

Ponoka, Alberta, February 14, 2006 – BDC announced today the creation of the Aboriginal Youth Lending Circle (AYLC) to support youth entrepreneurship in high schools. Students from Ponoka Outreach High School are the first to have the opportunity to develop entrepreneurial skills while accessing actual financing of up to one thousand dollars per project for their business plan.

"To access actual financing will allow students with a viable business idea to experience and develop real, successful small businesses, said Jim Richardson, National Director, Aboriginal Banking Unit at BDC. Students learned about basic business principles in the past, but this initiative allows them to test their knowledge in real-life situations."

Under the AYLC program, Ponoka High School will also offer students training on entrepreneurship and business and will cover such topics as HR, financial planning, marketing and problem resolution. The Aboriginal Youth Entrepreneurship course features interactive business planning resources and access to mentors online using BDC's E-Spirit distance learning modules.

"Our students show tremendous business potential and enjoy learning about entrepreneurship very much, stated Lawrence Hrycan, Principal of Ponoka Outreach High School. To offer them funding from BDC is one more way in which we can help them succeed."

Aboriginal communities show higher rates of new business and self-employment than the Canadian average, with more than 20,000 Aboriginals currently running their own businesses. Increased activity means greater need for a variety of consulting and financial services.

About Ponoka High School
Ponoka Outreach School was opened in 1993 with the mandate to help students learn in a different environment. In conjunction with an in-school learning program, Ponoka Outreach makes every effort to provide students with exposure to post-secondary institutions. The school's many successes with Aboriginal students from the nearby four First Nations bands translated into increased attendance, increased course completion and graduation rates, a satellite classroom in Hobbema, as well as awareness and sharing of cultural events. Ponoka Outreach is governed by the Wolf Creek School Division no. 72.

E-Spirit Competition
The E-Spirit Aboriginal Youth Business Plan Competition is a 16-week program, developed by BDC in 2001, providing online modules, mentoring and a business plan template for Aboriginal students in grades 10 to 12. A panel of judges, composed of BDC employees, partner representatives, Aboriginal business owners and others select winning teams to receive grants and achievement awards.

BDC developed the E-Spirit program and is the major sponsor, with help from privileged partners.

About BDC
BDC is a financial institution wholly owned by the government of Canada. BDC plays a complementary role in delivering financial, investment and consulting services to Canadian small business, with a particular focus on the technology and export sectors of the economy.

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