If you’re a young entrepreneur between the ages of 18 and 39, you may find it hard to get funding through traditional means, since you probably have little collateral or experience to draw upon. Fortunately, Futurpreneur Canada is available to help you get started. Futurpreneur teams up with the Business Bank of Canada to provide up to $45,000 in startup funding to young businesspeople, and it offers many other benefits for getting connected.
Get the Startup Money You Need
Not only does Futurpreneur Canada provide up to $45,000 in startup financing, but you may not even need collateral, depending on your age and the type and amount of your loan. Interest rates depend on whether you’re getting your financing from Futurpreneur itself or from the Business Development Bank of Canada, the program’s partner, but all rates are excellent, and you pay interest only for your first year in the program.
Sound Advice From Mentors
When you’re starting out, getting wisdom from those who’ve gone before you can make a big difference. Futurpreneur Canada hand-matches you with mentors who are trained to provide you motivation and focus while connecting you to others in your community over a two-year period. Those who want to give back to young businesspeople can do so by hooking up with Futurpreneur to volunteer to become mentors. Through your mentor, you can start to build the network you need in your industry to keep your business thriving. In fact, Futurpreneur considers mentorship so important that they offer a Mentoring Only program for young entrepreneurs who don’t need financing.
Helpful Resources and Templates
You need a business plan for your startup — but how do you create one? No worries: Futurpreneur is ready to help here, too, with interactive Business Plan Writer tools to guide you along the path to success. The Entrepreneurship Pathway provides a framework for getting your business started, and other resources ranging from mentorship advice to cash flow templates keep you growing. Other resources through Futurpreneur help you understand the basics of management and plan for future growth.
Chances to Connect With Peers
Mentorship is incredibly valuable, but connecting with other fledgling entrepreneurs gives you the opportunity to make deals and forge enduring business relationships. Futurpreneur Canada’s Entrepeer network makes it easy and enjoyable to make those connections through regular meetups and events across Canada. Plug in as well through the Entrepeer Hub at LinkedIn to get and share advice.
Applying to Futurpreneur
If you’re between ages 18 and 39 and a Canadian citizen or landed immigrant, check out Futurpreneur, which is funded by the Canada Business Network. To qualify, you have to demonstrate some experience relevant to your business idea, provide references, show that you’re not in bankruptcy, and agree with other Futurpreneur requirements. You also have to agree to provide Futurpreneur with regular updates and work with a mentor.
Futurpreneur is a great startup resource for young entrepreneurs who want to start a business that’s eligible for government funding and that can create full-time sustainable employment.