Mentors for Young Entrepreneurs

To qualify for the Canadian Youth Business Foundation (CYBF) program and financing, you must also participate in their mentoring program, including the online portion "Meant2B^TM".

Eligibility Criteria

• Between 18-34 years old
• Eligible to work in Canada
• Produces a complete and viable business plan
• Has been in business, fully operating, for less than 12 months
• Lives or opens the business in the community which is offering the CYBF program
• Has some training/experience related to their business idea
• Work with mentor for a period of two years
• Has a business that creates full-time sustainable employment for the applicant
• Must hold at least 51% voting share in the business (if a partnership)
• Not a full-time student
• Loan proceeds may NOT be used for the refinancing of existing debt

Eligible Activities

Business start-up.

Summary

To help your business succeed, CYBF ensures that you are matched with a qualified mentor for a minimum of 2 years during the critical start-up period. CYBF’s program revolves around three guiding principles:

• relational matching,
• foundation building, and
• ongoing support for both entrepreneurs and mentors, aimed at maintaining a successful mentoring relationship which will ultimately increase success rate of the young entrepreneur’s business.

Benefits

• You, as a young entrepreneur, benefit from business advice and guidance that is often too expensive to access during the early years of a start-up.
• Mentors pass on years of business knowledge and experience to you, which helps to prevent common pitfalls.
• Allows for you to gain hands-on experience with performance evaluation.

Newfoundland and Labrador Contact(s):
Ms. Kimberley Summers
Manager, Enterprise Services
Y Employment & Enterprise Services - Head Office
YMCA-YWCA of Northeast Avalon
Prince Charles Building
120 Torbay Road
St. John's, Newfoundland and Labrador  A1A 4G8
Telephone: 709-754-2982
Fax: 709-754-2870
E-mail: kim.summers@ymywca.nf.net
Web site: http://www.ynortheastavalon.com/employ.php
Hours of operation: Monday to Friday, 8:30 AM to 4:30 PM

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National Contact(s):
Canadian Youth Business Foundation
Suite 1410
100 Adelaide Street West
Toronto, Ontario  M5H 1S3
Fax: 1-877-408-3234
Toll-free (information): 1-800-464-2923
Web site: http://cybf.ca/contact-us/