The Youth Ventures program started on the Northern Peninsula in Western Newfoundland and Labrador in 1992, with two entrepreneurs. The program is designed for students aged 12-29 years who are interested in exploring entrepreneurship or making it a career. Today, the Youth Ventures program is delivered by twenty-two individual sites throughout Newfoundland and Labrador while working with several hundred students each year.
The program itself is 16 weeks in duration and runs from May to August each year. During that time, 22 coordinators conduct presentations throughout junior high, high school, and post secondary institutions promoting entrepreneurship as a viable career option to youth. After the presentations take place, the coordinators are there to help students in taking the initiative and starting a summer business. A lot of resources are available to youth in starting a business through the Youth Venture program including help with a business plan, idea generation, developing marketing and promotional materials, even printing business cards and flyers. The coordinators can also help students get in to local community events, get involved in the community, and assign a mentor to the entrepreneur. A mentor in the Youth Ventures Program is someone who has a lot of knowledge and experience in the community. They could be a volunteer, a business person, or anyone who would like to share what knowledge they have with young entrepreneurs today.
During the duration of the program, coordinators work with students from start to finish in starting their businesses and are there to ensure the student has a positive learning experience and with the right foundation and resources supporting them. Any business that is started through the program is under the sole ownership of the student involved in the program and all of the decisions within the business are theirs to make. Each student will get out of the business what he/she puts into it. The coordinator is simply there as a resource and a guide for young entrepreneurs. Although the Youth Ventures Program is a 16 week program, those students who wish to operate a business year round are provided with the contacts and information needed to do so. Within the program there is a Provincial Coordinator which is in place year round, as well as many of the Youth Ventures Delivery Sites are hosted through Community Business Development Corporations (CBDCs) or economic development agencies who can provide resources and experience to young entrepreneurs who wish to continue to operate a business.
Each year in the third week in August, near the end of the Youth Ventures Program there is an awards banquet which recognizes the achievements of the program participants. There are eleven awards given out and approximately $5000 distributed to program participants. Coordinators are responsible for nominating their participants for the awards and a selection committee made up of program stakeholders review the nominations and select the winners. With eleven awards there is something for everyone including awards in Customer Service, Financial Management, Marketing, Innovation and the list goes on. We then feature the Venture of the Year winner in all program promotional materials the following year.
Community Business Development Corporations (CBDCs), in conjunction with Department of Innovation, Trade and Rural Development (INTRD), and Atlantic Canada Opportunities Agency (ACOA), are working with youth businesses to help them grow beyond their local markets.
Trade Links is a hands-on program that is focused on working one-on-one with a small group of youth business owners who have the capability to expand and be sustainable.
Trade Links will work with economic development organizations in Newfoundland and Labrador to identify potential exporting youth businesses.
Trade Links goal is to help youth businesses expand beyond their borders.
Trade Links will benefit the businesses and the communities in which they operate.
Trade Links will contribute to entrepreneurship; the cornerstone of NL’s economy.
How does it work?
Utilizing INTRD’s Beyond Your Backyard – Export Readiness Program, successful applicants will complete an export diagnostic assessment that will identify the company’s overall export preparedness.
Next, participants will have a training program designed specifically for them and their business.
Then, the training will be provided in a manner that benefits the entrepreneur and the business.
In addition to training, participants will gain access to export specialists and mentors chosen to provide guidance and direction.
Who can apply?
Businesses that:
- Are 51% owned by someone 35 years or younger.
- Have a well-developed business plan.
- Have been in operation for at least three years.
- Have at least one employee.
- Demonstrate a profitable operation.
- Are committed to 100% attendance.
- Are willing to develop a growth strategy.
- Are in good standing with INTRD and ACOA.
CBDCs want to Kick$tart the future generation of entrepreneurs in Newfoundland and Labrador. One way we are doing this is by providing low-interest loans up to $5,000 to youth. The youth entrepreneur has to be under 35 years of age, living in NL and unable to get the needed money from other sources.
For example, Kick$tart can help:
- 13 year old purchase an existing business
- Full-time post-secondary student start R&D for a new product
- Existing youth entrepreneur expand a roadside service
Help us Kick$tart your business!
Metro Business Opportunities Corporation (MBO) administers the Entrepreneurial Opportunities Program (EOP), a provincial government initiative sponsored by the Department of Human Resources, Labour, and Employment. The program will help individuals across the province to create jobs for themselves through self-employment, by providing them with assistance in the form of coaching, ongoing business advice, and finacial support for a maximum period of 52 weeks.
Start Your Own Business
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709-738-1626
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Innovative Workplace Recruitment and Retention Practices
Background
This initiative will provide incentives for small and medium size NL businesses (businesses that have less than 50 employees) that are struggling with recruiting dynamic and hard working youth staff and with retaining engaged youth workers (youth being 35 years and under). A grant (to a maximum of $5000) will be provided to employers to implement innovative practices for young employees. This will increase incentives for youth to accept entry-level jobs and acquire new skills and experience while assisting employers in developing and retaining the skilled workers they need.
Rationale
- Participants in the dialogue process expressed that job satisfaction and workplace retention is also tied into professional development and the opportunity to further develop existing skills or learn new skills to enhance their role in the workplace.
- Workplace innovation and professional development often comes at a cost that can be a deterrent to implementation.
- A grant program to promote innovative practices in workplace development will offset the costs associated with workplace development practices and help in recruitment and retention of youth.
Criteria
The YRAS will support and fund innovative workplace projects that:
- Develop, implement and evaluate innovative, practical, solutions to improving youth retention and attraction in the workplace and fostering successful and productive youth workers;
- Apply new information and technology to youth retention and attraction in the workplace;
- Use existing knowledge in new ways to solve problems related to youth retention and attraction in the workplace;
- Transfer new knowledge to the workplace through the development or provision of education and training materials.
Project Description
- The program offers grants of up to $5,000 for small and medium size businesses (less than 50 employees) located in Newfoundland and Labrador. This project has been approved for $100,000 in total.
- The 15 CBDCs and associate member, Metro Business Opportunities, will encourage businesses to submit an application to the program at a CBDC or MBO office.
- An application will consist of general information about the business.
- It will require the applicant to outline the challenges that the business has with either recruitment or retention and provide examples in respect to youth workers (35 years of age and under). .
- It will also require them to outline the innovative activity that they wish to get approved under the program and to indicate the costs associated with this program.
- The CBDC / MBO will be asked to make a recommendation whether or not to support the application. This recommendation will be shared with HRLE as part of the application.
- If approved, the applicant will receive funding once proof of expenses incurred has been shown to the CBDC.
- Each applicant must also agree to a six-month follow up discussion with the CBDC to determine the outcome of the innovative initiative. This follow-up report will consist of a site visit, or electronic report between the CBDC / MBO and the applicant.
- This follow-up will give the CBDCs and MBO the opportunity to further assess the business for additional business counseling needs within the CBDC mandate or could be a direct link into INTRDs Business Retention and Expansion Program, as well as other consulting programs.
- There will be a ten (10) percent holdback, which will be released to the applicant once the six (6) month follow-up report has been submitted.
- Applications to this program will have to be submitted by the third Thursday of each month. As applications are received by the Provincial Association, they will be numbered accordingly for the monthly submission to HRLE.
- NLACBDC will submit a list of applicants to HRLE for final approval and announcement, by month’s end.
- Once the CBDC / MBO has received proof of costs incurred, a cheque will be made payable in the amount (up to the approved amount) to the CBDC / MBO by the Provincial Association, to be then disbursed to the client.
Innovative Initiative Criteria
Recruitment
- Used to help increase recruitment activities such as designing job ads, placement of job ads, career fairs, etc.
- INELIGIBLE
- Salary, Benefits, incentives, etc.
Health
- Used to help foster a healthy work place such as purchase of fruits, vegetables, healthy snacks etc.
- Fridge for storing meals.
- Dietician visiting staff to develop healthy meal plans.
- Purchase of water station.
- Paying for staff gym memberships.
- Ergonomic assessment of work place.
- Fitness Instructor visiting business on lunch for class instruction
- INELIGBLE
- Soda vending machine, unhealthy food, coffee machine, etc.
- INELIGBLE
Technological Improvements
- Improvements to business technology such as updating software that improves employees work performance.
- Purchase of new equipment such as computers, cell phones, etc.
- Development of flexible working schedules – allowing staff to work from home (requires software and equipment offsite).
- INELIGBLE
- Purchase of alarm system, new manufacturing equipment, etc.
- INELIGBLE
Training and Development
- Professional development in line with the business mandate such as customer service, financial reporting, management assessments, certification of memberships (trade etc.), upgrade of software training.
- INELIGIBLE
- Activities similar to INTRD’s community capacity program.
- INELIGIBLE
Work place Environment
- Reimbursement for cost of recycling program
- Development of outdoor Staff station – picnic table, etc.
- New indoor staff room – pool table, lounging area, new paint job, television area, play station, etc.
- Improvements to staff stations.
- INELIGIBLE
- New signage, storefront shelving, purchase of prints, etc.
- INELIGIBLE
Grants will not be eligible for funding if the objectives can reasonably be met through existing mechanisms in the workplace or industry.
Program Follow Up Activities
- Initial contact and collection of challenges of the businesses will help to develop a needs list in terms of recruitment and retention.
- It is anticipated that the businesses involved in this program may not necessarily be the businesses that organizations such as INTRD, HRLE and CBDCs have regular communication with, or have financed. These businesses may be well established but still face staff morale challenges.
- The innovative initiatives that they put forth will be used as the basis for a best practice document, activity that can be used to highlight what NL businesses are willing to do for their staff.
ETF Fast Facts
- Training funds available to all CBDC loan clients
- Maximum allocation per client is $2,000
- Client contribution is 10%
- Generally, the total allocation per CBDC per year is $12,000
- All training funds are considered a contribution
- Business skills and counseling are the priorities
Building a strong business does not always occur as you anticipate. Oftentimes challenges and opportunities may arise that are not in your area of expertise. Business consultants are experts in their fields and are qualified to suggest guidance and offer advice to entrepreneurs.
CBDC’s recognize the importance of connecting entrepreneurs and business owners with industry experts in order to advance the success of small business in Newfoundland and Labrador. Our Consulting Advisory Services (CAS) Program is designed to provide small and medium size businesses and non-profit organizations with the resources and information needed to operate effectively and efficiently.
How CAS Can Help You
CBDCs can offer you cost-shared Consultant Advisory Services to assist with various opportunities and challenges. New and existing clients will be able to access technical and financial assistance in a wide range of areas, including:
- Diagnostic assessment
- Business management development practices
- Access to capital
- Marketing readiness/export potential
- Specific studies/business plan mentoring, and
- Aftercare/mentoring and follow-up
We offer you the flexibility of selecting your own consultant to complete the work which may give you more security and comfort when delving into important issues with your business.
Who is eligible?
If you are interested in availing of the CAS Program, review the guidelines below to determine if you may qualify:
- Both existing and potential entrepreneurs are eligible for this program;
- Year-round and seasonal business activities are both acceptable;
- Most business sectors are eligible for the CAS except retail/wholesale,real estate, government services and services of a personal or social nature;
- Non-profit organizations are eligible;
- The project should be financed on a cost-shared basis with the client covering a minimum of 25% of the eligible project costs;
- The Consultant may be reimbursed 75% of the costs of professional fees and associated costs to a maximum of $5,000;
- HST is not eligible expense.
