PETL-Student Entrepreneurship (SEED)

This document is based on information from Post-Secondary Education, Training and Labour Web site, February 2008.

Student Entrepreneurship is one of the three components of the Student Employment and Experience Development (SEED) Program.

When school is out for the summer, you could drop your résumés off at local businesses… or you could create a business of your own! Student Entrepreneurship  can provide you with assistance to start a summer business, including an interest-free loan of up to $3,000. The loan must be repaid by October 15th (if paid in full, you may qualify for a one-third reimbursement). Launch a painting business, a retail operation, a lawn care service… choose an interest with market demand.

Eligibility Criteria

A participant must:

• be a resident of New Brunswick or a First Nation Community in New Brunswick, or have lived in New Brunswick for the last six months
• be at least 16 years of age
• be returning to school in the fall
• be eligible to work in Canada

A participant must not:

• have an outstanding Student Entrepreneurship loan at the time of application.

The proposed business must:

• by way of a business plan, show that it is a viable operation with the ability to pay back the Student Entrepreneurship loan
• operate for a minimum of six weeks
• create at least one full-time summer job of at least 35 hours per week
• provide the participant with a large degree of operational control and daily business experience
• be independent of any established family-owned business
• comply with all municipal, provincial and federal regulations

The proposed business must not:

• create undue competition for an existing venture
• be unsuitable for public funding

Guidelines

The following operating guidelines apply:

• the business cannot start before April 1st or end after the Labour Day weekend
• proof must be submitted within 30 days of starting the business showing that specified business regulations have been met (e.g. business name registration, insurance, etc.)
• the business must follow generally accepted accounting principles, with a final business income statement being submitted before October 15th.

Summary

A loan is available to a participant that is in the form of a loan guarantee to a maximum of $3,000 (must be repaid by October 15th).

A loan rebate of one-third of the total amount of the Student Entrepreneurship loan is available to a participant who pays back the loan by October 15th.

For additional information on Student Entrepreneurship , contact your local Post-Secondary Education, Training and Labour office or call 506-453-3818. Or visit the Web site:   http://www.gnb.ca/0311/index-e.asp.

Post-Secondary Education, Training and Labour Regional Offices :

(Area code 506)

Bathurst	549-5766
Campbellton	789-2411
Caraquet	726-2639
Edmundston	735-2677
Fredericton	453-2377
Fredericton - Central	453-3818
Grand Falls / Grand-Sault	475-4025
Miramichi	627-4000
Moncton	869-6944
Neguac	627-4000
Perth-Andover	273-4559
Richibucto	523-7612
Sackville	869-6944
Saint John	643-7258
Shediac	869-6944
Shippagan	726-2639
St. Stephen	466-7627
Sussex	432-2110
Tracadie-Sheila	726-2639
Woodstock	325-4406

New Brunswick Contact(s):
Employment Division
Post-Secondary Education, Training and Labour
P. O. Box 6000
Fredericton, New Brunswick  E3B 5H1
Telephone: 506-453-3818
Fax: 506-453-7967