CBDC Young Millionaires Program

Q: How much funding can be received?

CBDC Young Millionaires Program Funds up to 200% of admissible expenses.

Q: What is the deadline to apply?

The deadline to apply is not specified.

Q: Is the CBDC Young Millionaires Program a grant, loan, or tax credit?

CBDC Young Millionaires Program is a Grant and Funding

Q: Who are the financial supporters of the CBDC Young Millionaires Program?

CBDC Young Millionaires Program is funded by Community Business Development Corporations (CBDC)

Q: Who is eligible for the CBDC Young Millionaires Program program?

To be eligible for the CBDC Young Millionaires Program program, you must: • Applicants must be youth aged 9 to 16. • Applicants need to complete a business idea and a detailed business plan. • An interview is required for acceptance into the program.

Q: Who can I contact for more information about the CBDC Young Millionaires Program?

You can contact Community Business Development Corporations (CBDC) by email at ymp@centralpei.ca or by phone at 902-887-3400.

Q: Where is the CBDC Young Millionaires Program available?

The CBDC Young Millionaires Program program is available the province of NS.

Q: Are youth (under 40) eligible for the CBDC Young Millionaires Program program?

Yes, youth under 40 are eligible to apply for the CBDC Young Millionaires Program program.

Last Update: July 22, 2025

NS, Canada

Support for Atlantic youth to start a business

At a glance

Eligible Funding

Max. $200

Timeline

Open Date : May 9, 2023

Financing Type

Grant and Funding

Eligible Industries

Educational services

Funds Providers

Unspecified

Program status

Open

Overview

If your child is between the ages of 9 and 16, they can develop their entrepreneurial skills through a series of workshops and mentoring designed to help them start a business of their own.

Financing terms and conditions

The CBDC Young Millionaires Program provides a start-up grant to support youth entrepreneurs in establishing their businesses during the summer program. This non-repayable grant has specific financial terms depending on the business structure.

Non-repayable start-up grant of up to $150 for sole proprietorships.
Non-repayable start-up grant of up to $200 for partnerships.

Activities funded

The Young Millionaires Program offers a series of projects and activities designed to cultivate the entrepreneurial skills of youth aged 9 to 16. These activities provide a comprehensive exploration of entrepreneurship through practical and educational engagements.

Entrepreneurial skill development through workshops covering creativity, innovation, marketing, and public speaking.
Business idea and plan development with mentorship and support.
Participation in group vending events and activities engaging family and community connections.
Opportunities to develop and execute a business plan with potential start-up grants.
Access to ongoing support to enhance problem-solving skills and learn from failure.
Encouragement towards independence and confidence-building for aspiring young entrepreneurs.

Examples of admissible projects:

$ 200

Group vending event for youth entrepreneurs

$ 200

A series of creativity and innovation workshops

$ 200

Financial management training for young entrepreneurs

$ 200

Developing a marketing strategy for a youth-run business

$ 200

Customer service skill-building workshop for youth

$ 200

Public speaking workshops for youths

Eligibility

Eligibility for this grant is determined by specific criteria related to the applicant's profile and readiness to participate in the program.

Applicants must be youth aged 9 to 16.
Applicants must complete the program's application process, including submission of a business idea and business plan.
Interest and enthusiasm for entrepreneurship must be demonstrated.
Applicants must participate in and complete all required workshops.
A detailed business plan and a successful interview are required for acceptance.

Who is eligible?

This grant is part of the Young Millionaires Program, which is open to youth entrepreneurs aged 9 to 16 in Prince Edward Island, Canada. Applicants must complete the program prerequisites such as attending workshops, submitting a completed business plan, and participating in an interview process to be eligible for the start-up grant. The program welcomes individual applications as sole proprietors or as partnerships, with support provided through local delivery partners. Participants are evaluated on the basis of their application, business idea, business plan, interest, and enthusiasm in entrepreneurship.

Who is not eligible

This program does not specify any particular industries or types of companies that are excluded from applying. However, it is inherently restricted to individual young entrepreneurs between the ages of 9 and 16, rather than registered companies or established industries.

Eligible expenses

The Young Millionaires Program funds activities that provide youth with both entrepreneurial skills and real-world business experience. Eligible projects include establishing and growing youth-led businesses, creating innovative products, and engaging in market opportunities.

Creation and development of youth-led businesses with initial start-up support.
Participation in workshops focused on business fundamentals like marketing and expenses.
Producing and selling unique products or offering specialized services.
Engagement in community vending events to gain market exposure.
Partnering with peers in business initiatives to increase collaborative skills.
Expanding business reach through strategic planning and exploring online markets.
Accessing mentorship for ongoing entrepreneurial development.
Participation in organized events and exclusive year-round venues.

Eligible geographic areas

This program is available to young entrepreneurs located across specific regions of Prince Edward Island, Canada. The eligible areas ensure support for youth enterprise development in both English and Francophone communities across the island.

Central Prince Edward Island
Eastern Prince Edward Island
Western Prince Edward Island
Charlottetown Area
Francophone communities through RDÉE Ile-du-Prince-Édouard Inc.

Selection criteria

The evaluation and selection of projects for the Young Millionaires Program are based on the completion of specific requirements and demonstration of interest and enthusiasm for entrepreneurship.

Completion of the application form with all necessary details.
Quality and viability of the business idea presented by the applicant.
Comprehensive development of the business plan.
Demonstrated interest and enthusiasm for entrepreneurship throughout the application process.
Successful completion of required workshops on basic business fundamentals.
Performance during the interview stage.

How to apply

Pre-registration

Express interest in the program by pre-registering online.
Keep an eye on the opening of official registration in May.

Official Registration

Complete the official registration form when it opens in May.
Provide necessary details about the youth applicant and guardian's consent.

Application Submission

Submit a filled-out application with the proposed business idea.
Ensure the application reflects the business idea, enthusiasm, and interest of the youth.

Participate in Workshops

Attend all scheduled workshops starting in June to learn business fundamentals.
Engage actively in all workshops to acquire necessary entrepreneurial skills.

Develop Business Plan

Create a detailed business plan based on the learnings from workshops.
Include components like marketing strategies, budgets, and operational plans.

Interview

Participate in an interview to assess the readiness and potential of the business idea.
Prepare to discuss your business plan and answer any questions.

Program Acceptance

Wait for acceptance into the program based on application, workshops, and interview results.
Once accepted, receive a start-up grant to launch the business.

Additional information

Here are additional relevant details for this grant:

The program has been running since 1992 and is funded by the Atlantic Canada Opportunities Agency’s Business Development Program and Innovation PEI.
Participants in the program are expected to engage in vending events and activities throughout the summer.
The Shooting Stars program provides year-round support and mentorship for those continuing their business after initial participation in the Young Millionaires Program.
The Youth Employment Program complements the entrepreneurial focus by providing skills-based work experience.
Young Millionaires Program alumni have access to various perks and support options, indicating a strong alumni network and ongoing opportunities beyond initial program participation.
Success stories highlight the significant earning potential and skill development achieved by past participants.
Engagement with the community and collaboration with local businesses is encouraged through various program-sponsored events.

Contacts

ymp@centralpei.ca

902-887-3400

Apply to this program

Frequently Asked Questions about the CBDC Young Millionaires Program Program

Here are answers to the most common questions about the CBDC Young Millionaires Program. This section explains what the program is, how much funding is available, eligibility requirements, application deadlines, and other important details to help you determine if this grant is right for your business.