Ontario Government Funding Initiatives Take Aim at Youth Unemployment

bigstock-Large-group-of-business-people-13870232In recognition of the importance of a highly skilled and adaptable workforce the Ontario government has established a Youth Jobs Strategy supported by Ontario government small business grants and loans. The comprehensive plan hopes to line up more young people from Ontario with employers who are looking for the in-demand skills that will help their business thrive in today’s economy.

Small Business Grants Ontario to Support Youth Jobs Strategy

Three particular Ontario government funding for small business programs that the government plans to rely on to make the Youth Jobs Strategy a success are (1) the Ontario Youth Employment Fund, (2) the Ontario Youth Innovation Fund, and (3) the Business-Labour Connectivity and Training Fund.

Ontario Small Business Funding Grants Summary

  • The Ontario Youth Employment Fund small business grants program- will aim to create new job opportunities for youth across Ontario by supporting the next generation of entrepreneurs through mentor-ship, start-up capital and outreach.
  • The Ontario Youth Innovation Fund Canadian small business grants support youth to lead and manage industrial research, development and commercialization. It would also support young entrepreneurs at universities and colleges.
  • The Business-Labour Connectivity and Training Fund will bring together business, labour, educators and youth to better prepare young people to develop the skills they need to succeed.

Ontario Government Grants and Small Business Loans Expected Benefit

The entire strategy will be supported by a total investment of $295 million over two years, in hopes of creating a projected 30,000 new job opportunities.

“When our young people can find meaningful work, we all benefit. This Youth Jobs Strategy would help connect youth with careers they can build on and equip them with the skills they need to thrive in today’s global economy.”  — Kathleen Wynne, Premier of Ontario

If approved, the $195 million Ontario Youth Employment Fund will be available as early as September 2013.  The Ontario government plans to work with youth, professionals and communities partners to iron out details of each initiative.

Canadian Government Funding for Small Business Support Services

Keep up with news and updates on Canadian government funding initiatives by following Mentor Works Ltd. on LinkedIn and Twitter.   We also recommend you take advantage of the opportunity to sign up for our Free Canadian government funding weekly E-newsletter.   Qualified small and medium-sized businesses can also attend a Free Canadian government funding workshop at one of our several event locations.

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