Young entrepreneurs looking to expand their businesses often consider relocating to Canada. The country has an astonishing support structure that includes funding, mentorship, and guidance in the form of business training or education. These tailor-made programs are designed to give aspiring entrepreneurs the best chance at success. Indeed, these programs make Canada a unique destination for foreign entrepreneurs looking to shift their base to a new progressive economy.
Key Young Entrepreneur Programs in Canada
Futurpreneur Canada
- Target Audience: Young entrepreneurs aged 18-39
- Offerings:
- Financing up to $75,000
- Up to two years of mentorship
- Resources and networking opportunities
- Impact: Supported over 18,700 young entrepreneurs in launching more than 14,700 businesses across Canada and provided $219 million in loan financing
- More Info: Futurpreneur Canada
Black Entrepreneur Startup Program (BESP)
- Target Audience: Black entrepreneurs aged 18-39
- Offerings:
- Startup loan financing up to $75,000
- Up to two years of mentorship
- Resources and networking opportunities
- To be eligible: Business must be majority Black-owned (min. 50% for two owners, min. 25% if more than two owners)
- More Info: Futurpreneur Canada
Indigenous Entrepreneur Startup Program (IESP)
- Target Audience: Indigenous entrepreneurs aged 18-39
- Offerings:
- Financing up to $75,000
- Up to two years of mentorship
- Tailored resources and opportunities to engage with a national network of Indigenous entrepreneurs
- More Info: Futurpreneur Canada
OUT for Business (OFB) Youth Entrepreneur Program
- Target Audience: 2SLGBTQI+ entrepreneurs aged 18+
- Offerings:
- One-on-one and team mentoring
- Networking opportunities
- Business development education
- Wellness support
- More Info: Small Business Services Canada
Rise Youth Small Business Program
- Target Audience: Entrepreneurs aged 16-29 facing mental health or addiction challenges
- Offerings:
- Business training program
- $500 start-up grant
- Mentorship and networking opportunities
- More Info: Small Business Services Canada
BDC – Young Entrepreneur
- Target Audience: Young entrepreneurs aged 18+
- Offerings:
- Start-up financing and loans up to $100,000
- Business coaching
- More Info: Business Development Bank Canada
Futurpreneur’s Newcomer
- Target Audience: Newcomers to Canada aged 18-39
- Offerings:
- Financing up to $25,000 ($12,500 from Futurpreneur and $12,500 from BDC)
- Up to two years of mentorship
- Resources and networking opportunities
- To be eligible: Must have lived in Canada less than 60 months, have the required documentation and limited or no credit history
- More Info: Futurpreneur Canada
Government Support for Young Entrepreneurs
The Canadian government continues to invest in young entrepreneurs. In 2024, it committed $60 million over five years to Futurpreneur Canada to support business innovation and expansion.
Success Story: Tara Bosch, Founder of SmartSweets
One of Canada’s most inspiring young entrepreneurs is Tara Bosch, who launched SmartSweets at the age of 22. Her low-sugar candy company quickly gained traction, and she went from selling her sweets from the back of her car to becoming a multi-million-dollar business, proving that Canada’s entrepreneurial ecosystem can help young visionaries turn ideas into successful ventures.
Your Future in Canada
Leveraging these programs can be a game-changer for young international entrepreneurs looking to establish themselves in Canada.
Startup Visa Services assists foreign entrepreneurs through Canada’s StartUp Visa Program, offering expert guidance on business plans, innovation strategies, and applications to designated organisations. If you’re ready to bring your business to Canada, SVS can help you navigate the process efficiently and increase your chances of success.
Contact us directly for more information.
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