Summer Company
At a glance
- Max. $3,000
- Open Date : January 11, 2021
- Closing date : May 17, 2024
- Other services (except public administration)
- Public administration
- Government of Ontario
Overview
Eligibility criteria
Eligibility criteria for this grant:
- Go to high school, college or university
- Live in Ontario
- Are a Canadian citizen or permanent resident
- Are between 15-29 years old (if under 18: a parent or guardian must sign the agreement for the applicant)
- Are not already running a business
- Are not working at another job or going to school for more than 12 hours a week during the program
- Are returning to school after the program ends
Who is eligible
There are eligible types of companies for this grant. The business must be a sole proprietorship or corporation where you are the majority shareholder, an independent business venture (not part of an existing or family business), and operate in Ontario on a full-time basis.
- Sole proprietorship or corporation
- Independent business venture
- Operates in Ontario on a full-time basis
Eligible projects & activities
- Starting a sole proprietorship or corporation business in Ontario
- Operate an independent business venture that is not part of an existing or family business
- Qualify as "self-employed" for income tax purposes
- Run the business on a full-time basis in Ontario
- Follow government rules and regulations for operating a business
Evaluation & selection criteria
Yes, there are evaluation and selection criteria for this grant. The criteria include:
- Meeting program eligibility requirements
- Submission of a business plan and cash flow
- Participation in an interview
How to apply
- Step 1: Contact your local Ontario Works or Ontario Disability Support Program office for more information on eligibility if you are on social assistance.
- Step 2: Submit your application through a Small Business Enterprise Centre for the 2024 program by the deadline of May 17.
- Step 3: Await contact from your selected program provider for the next steps in the application process.
- Step 4: If your application meets the requirements, you will be invited for an interview with your program provider.
- Step 5: After the interview, the program provider will inform you of your approval to participate in the Summer Company program.
- Step 6: Once accepted, sign an agreement with the program provider, follow program guidelines, register the business name, provide any necessary licensing documents, and set up a bank account for the business.
- Step 7: Agree to at least one site visit from your program provider and commit to meeting with your business mentor for a minimum of four meetings over the program period.
Start a Summer Company Grant in Ontario
What is the Summer Company Grant in Ontario?
The Summer Company grant in Ontario is a program designed to help students kick-start their summer businesses by providing them with start-up money and mentorship from local business leaders. The grant offers up to $3,000 to eligible students between the ages of 15-29, who are Canadian citizens or permanent residents of Ontario. The program requires participants to commit a minimum of 280 hours for high school students and 420 hours for post-secondary students during the summer period. Students who qualify for the Summer Company grant can choose to start almost any type of business as long as it operates as a sole proprietorship or corporation in Ontario. The grant aims to develop valuable entrepreneurial skills in participants such as sales, marketing, bookkeeping, customer relationship management, and networking. Successful applicants receive up to $1,500 upfront to cover start-up costs and an additional $1,500 upon meeting the program requirements. To apply for the Summer Company grant, interested students need to submit an application through a Small Business Enterprise Centre by the deadline, which typically falls on May 17th. The application process involves preparing a business plan and cash flow projection, which will be reviewed by the program provider. Upon approval, participants are expected to sign an agreement with the program provider, register their business name, and meet their business mentor for a minimum of four sessions during the program period. Overall, the Summer Company grant in Ontario offers students a unique opportunity to gain hands-on experience in running their own business, receive financial support, and benefit from valuable guidance provided by experienced business professionals. Through this program, students can develop essential entrepreneurial skills that will not only benefit their summer businesses but also serve them well in their future endeavors.
