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Young Entrepreneurs Info-Guide
Last Verified:
2007-11-02
This Info-Guide is designed to inform prospective young entrepreneurs about programs and services available to them in Newfoundland and Labrador. Further information can be obtained by contacting the listed organizations directly.
This guide should be read in conjunction with our Business Start-Up Info-Guide and our Financing Info-Guide, as these outline regulations and funding programs that might apply to any business operating in Newfoundland and Labrador.
The Canada/Newfoundland and Labrador Business Service Centre is your BEST source for FREE business information! For information on any of our services, contact our Centre, or visit one of our Network Sites
Canada/Newfoundland and Labrador Business Service Centre
90 O'Leary Avenue
P.O. Box 8687
St. John's, Newfoundland and Labrador A1B 3T1
Telephone: 709-772-6022
Fax: 709-772-6090
Toll-free (information): 1-800-668-1010 (in the Atlantic region only)
TTY Toll-free (hearing impaired): 1-800-457-8466
E-mail: info@cbsc.ic.gc.ca
Web site: http://www.cbsc.org/nl
Hours of operation: 8:30 am to 5:00 pm Monday to Friday
TABLE OF CONTENTS
Key Organizations
Business Start-Up
Awards
Key Organizations
Futures in Newfoundland and Labrador Youth! (FINALY!)
A dynamic youth driven organization, FINALY! empowers youth to be active participants in decision making and implementation. Our involvement in social and economic issues provides an opportunity for youth to build a viable future in Newfoundland and Labrador.
Ms. Rhonda Tulk-Lane
Executive Director
Futures in Newfoundland and Labrador's Youth (FINALY!)
31 Peet Street
Suite 206 - Tara Place
St. John's, Newfoundland and Labrador A1B 3W8
Telephone: 709-738-6274
E-mail: rhonda@finaly.ca
Web site: http://www.finaly.ca/index.htm
ACE -
Advancing Canadian Entrepreneurship Inc
Telephone: 1-800-766-8169
Founded in 1987, ACE is a national, not-for-profit organization that is igniting young Canadians to create brighter futures for themselves and their communities. Working in partnership with business and higher education, ACE organizes and motivates teams of university and college students who practice and teach others the principles and values of entrepreneurship and market economies.
ACE offers two programs:
- Students in Free Enterprise (SIFE) - international student competition
- Student Entrepreneur.
In this province, the following campus are involved with ACE:
- College of the North Atlantic - St. John's
- College of the North Atlantic - Clarenville
- College of the North Atlantic - Grand Falls-Windsor
- College of the North Atlantic - Corner Brook
- College of the North Atlantic - Stephenville
- Memorial University of Newfoundland
Newfoundland and Labrador Youth Advisory Committee (NLYAC)
Telephone: 709-729-6890
The Newfoundland and Labrador Youth Advisory Committee is comprised of up to 15 youth from throughout Newfoundland and Labrador, aged 15 - 29 years, and four adult mentors, appointed by the Minister of Human Resources, Labour and Employment to advise the Minister on provincial government youth related policies, programs and services.
Department of Human Resources, Labour and Employment (HRLE)
The Department has a Career, Employment and
Youth Services
branch that has specific programs designed for youth.
Business Start-Up
Atlantic Canada Opportunities Agency (ACOA)
The Seed Capital Program and the Youth Ventures Program are two programs funded by ACOA and delivered by the various Community Business Development Corporations (province-wide) and the Metro Business Opportunities Corporation (St. John's/Mount Pearl area). Descriptions of and contacts for both programs are given below:
Seed Capital Program
Telephone: 1-888-303-2232
Youth under 35 years of age can obtain loans of up to $20,000 for business start-up or expansion or modernization of a business. The loan is in the form of a repayable, unsecured personal loan, with flexible interest and repayment terms. Additionally, a maximum of $2,000 is available for specialized training and business counselling.
Youth Ventures
Telephone: 1-800-833-1829 or 709-834-8363
From May to September, students between the ages of 12 to 29 are assisted by coordinators located throughout the province. You can get help with:
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Coming up with a business idea
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Writing a business plan
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Marketing your business, advertising, brochures, business cards
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Working out the financing you're going to need to get your business up and running
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Hiring the right employees
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Getting advice from a mentor.
Genesis Centre
- Memorial University of Newfoundland and Labrador
The Genesis Centre is a support network developed to help Newfoundland and Labrador knowledge-based businesses/entrepreneurs create high-growth enterprises. It provides a wide range of resources and services for its clients with a long-term goal of preparing its clients to become investor ready.
Genesis offers access to:
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business resources, such as world-class mentors, experienced advisory boards, help with business plan development, learning & networking events.
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technical & scientific resources of Memorial University, e.g. the Manufacturing Technology Centre, C-CORE, the Statistics Consulting Centre
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physical resources, such as office space & equipment; computer equipment; board rooms; videoconferencing facilities
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the intangible benefits of being part of a well-regarded entrepreneurial community, e.g. credibility, synergy, confidence, vision.
Entrance to the Genesis Centre is a competitive process administered by a selection board of experienced business people.
Genesis Centre
Suite 3003, Inco Innovation Centre
Memorial University of Newfoundland
P.O. Box 4200
St. John's, Newfoundland and Labrador A1B 3X5
Telephone: 709-737-2625
Fax: 709-737-2539
E-mail: genesis@mun.ca
Web site: http://www.genesis.mun.ca/GenesisCentre/
Entreprise and Entrepreneurship Gateway
- Memorial University of Newfoundland and Labrador
The Gateway provides aspiring entrepreneurs with counselling advice and direction on a business idea to the point of business start-up. Coaches offer counselling and direction to the various resources, programs, and services you'll need. The Gateway is open to all members of the university community including undergraduate and graduate students, faculty, staff, and alumni.
Enterprise and Entrepreneurship Gateway (MUN)
Memorial University of Newfoundland (MUN)
Faculty of Business Administration
Business Building, Room 4014
St. John's, NL A1B 3X5
Telephone: 709-737-8855
Fax: 709-737-2383
E-mail: gateway@business.mun.ca
Web site: http://www.business.mun.ca/gateway
Canadian Youth Business Foundation
Start-up Financing for Youth
Expansion Financing for Youth
Mentors for Young Entrepreneurs
Succession Financing for Youth
The CYBF provides loans of up to $15,000 to cover the start-up costs of business. You must be between the ages of 18-34; provide a written description of your business idea and yourself; and agree to work with a mentor for the life of your loan. Existing CYBF Entrepreneurs that require additional funding can be eligible for a loan up to $10 000. Also available are succession loans for youth who will attain 51% ownership within the first five years of operation of a company financed by CYBF.
Y Employment and Enterprise Centre
The Centre is a community-based, non-profit business development agency whose primary purpose is to help people create self-employment through small business development. One of the core services of the Y-Enterprise Centre is business plan development. Trained business consultants work one-on-one with clients of all ages, toward the completion of a business plan.
Y Employment & Enterprise Services - Contacts for Newfoundland and Labrador
Ulnooweg Development Group Inc.
In 1997, the
First Nations and Inuit Youth Work Experience Program was established with the National Aboriginal Capital Corporation Association (NACCA) managing the program. In Atlantic Canada, the program is delivered through the Ulnooweg Development Group Inc. out of Truro, Nova Scotia. This is a micro-business program is for out-of school unemployed young people. It offers the opportunity to be matched with a mentor and some financial support in order to assist youth interested in creating their own employment. The primary elements of the program consist of:
- Counselling Sessions
- Mentoring/Business Planning
- Capitalization
- Aftercare - Management Assistance
Ms. Dana Squire
Ulnooweg Development Group Inc.
58 Lemarchant Road
St. John’s, Newfoundland and Labrador A1C 6K1
Telephone: 709-726-3750 or 709-726-3752
Fax: 726-3742
Web site: http://www.ulnooweg.ca
Business Development Bank of Canada (BDC)
The
Growth Capital for Aboriginal Business program aims to increase access to capital
for Aboriginal entrepreneurs who want to start a small business or expand an
existing business operating on or off a reserve in Canada. The loan can be
used for start-ups; fixed assets such as land, buildings, or new/used equipment;
purchase a production line or automate your current one; boost sales by
increasing support for inventory and receivables, or by reducing trade payables;
provide working capital needed for R&D, developing new markets and products;
finance development of e-business initiatives such as Internet sites, intranet,
or extranet; explore new export markets; adopt quality management standards such
as ISO certification and HACCP.
Junior Achievement of Newfoundland and Labrador (JANL)
Junior Achievement of Newfoundland and Labrador (JANL) offers innovative programs that stimulate and inspire elementary, middle and high school students to value free enterprise, understand business and economics, and develop entrepreneurial and leadership skills. The programs offered are:
- Business Basics - Our Business World - gives elementary school students experience making big decisions in different areas of a small manufacturing operation
- Economics of Staying in School (ESIS) - offered as a one-day seminar to grade nine students to explore the relationships of the following four concepts: (i) success (ii) independence (iii) employment (iv) futures
- Company Program - A Student Venture - an after-school program that provides an opportunity for high school students to create, operate and liquidate their companies
- Dream Big - A Life Lesson with Tiger Woods - stresses the importance of character, integrity and hard work exemplified by Tiger Woods and uses him as a role model to help senior high school students set goals and define a vision for the future.
Junior Achievement of Newfoundland and Labrador (JANL)
3rd Floor, Delgado Building
171 Water Street
P.O. Box 7468
St. John's, Newfoundland and Labrador A1E 4V8
Telephone: 709-753-9533
Fax: 709-753-2612
E-mail: info@janl.org
RBC - Young Entrepreneurs
Telephone: 1-800-769-2570
The Young Entrepreneurs section of Royal Bank of Canada's web site offers financing and business resources to help young entrepreneurs start and grow businesses.
Awards
ACE -
Advancing Canadian Entrepreneurship Inc
The Student Entrepreneur Program
operated by ACE is the only national program to focus solely on full
time Canadian post-secondary student entrepreneurs. The Student Entrepreneur of the Year will receive a
$10,000 cash prize plus complimentary lodging and travel to attend the
Global Student Entrepreneur Awards.
See above for contact information.
Business Development Bank of Canada (BDC)
Every year, the BDC holds the Young
Entrepreneur Awards to highlight Canada's best and brightest young entrepreneurs and to recognize their innovative spirit and business acumen. There is one winning business per province and territory for a total of 13 awards.
Newfoundland and Labrador Regional
Economic Development Association (NLREDA)
The Community Economic Development Awards program is a
celebration of the accomplishments and spirit of the economic development community in Newfoundland and Labrador. The Excellence
in Youth Leadership award recognizes an individual youth or youth
group that has demonstrated active participation in community economic
development, initiative, visibility, leadership, and a shown success of
engaging youth.
Ms. Christina Barfitt
Newfoundland and Labrador Regional Economic Development Association (NLREDA)
460 Torbay Rd
P.O. Box 23093
St. John’s, Newfoundland and Labrador A1B 4J9
Telephone: 709-576-1002
E-mail: cbarfitt@nlreda.ca
Department of Innovation, Trade and Rural Development (DITRD)
The
Newfoundland and Labrador Export Awards
award formally acknowledges the outstanding success of local
entrepreneurs and businesses that have achieved commercial export success. The
award winner receives official recognition for their outstanding performance,
enhancing their reputation in the provincial, national and international
business community.
Ms. Lisa Gushue
Department of Innovation Trade and Rural Development
2nd Floor, West Block
Confederation Bldg.
P.O. Box 8700
St. John's, Newfoundland and Labrador A1B 4J6
Telephone: 709-729-3641
Fax: 709-729-3208
Toll-free (information): 1-800-563-2299
E-mail: exportawards@gov.nl.ca
Web site: http://www.intrd.gov.nl.ca/intrd/
DISCLAIMER
Information contained in this document is of a general nature only and is not intended to constitute advice for any specific fact situation. Users concerned about the reliability of the information should consult directly with the source, or seek legal counsel.
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