Young Entrepreneurs Program
Winnipeg, MN, Canada
Grants for young Manitoba entrepreneurs
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Grant and Funding
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- Government of Manitoba
- Economic Development, Investment, Trade and Natural Resources
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Receive up to $10,000 to defray start-up costs and capital expenditures.
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The Young Entrepreneurs Grant supports young individuals in Manitoba to start and run their own businesses, focusing on eligibility based on specific business types and associated costs. Eligible activities for this grant primarily revolve around start-up and capital expenses necessary for establishing the business.
- License fees
- Space rental
- Telephone installation
- Utilities
- Office supplies
- Equipment rental
- Business travel costs
- Inventory costs (limited to 50% of the expense)
- Recent purchases of land
- Recent purchases of buildings
- Recent purchases of office equipment
- Recent purchases of significant equipment and fixtures
grant_single|admissibleProjectsExample
$8,500
Vancouver
Opening a sustainable clothing boutique
$8,000
Calgary
Launching a digital marketing agency
$10,000
Winnipeg
Starting a fitness center
$10,000
Montreal
Establishing a graphic design studio
$10,000
Ottawa
Opening a community café
$10,000
Toronto
Launching a tech consultancy firm
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The eligibility criteria for businesses applying for the Young Entrepreneurs Grant are as follows:
- Must be year-round and permanent in nature.
- Must ultimately provide the principal applicant with full-time self-employment.
- Must be a Manitoba-based business.
- Must be a business created for the purpose of making a profit and providing the applicant with at least a minimum wage income.
- Must demonstrate, through the business plan, that the business will be viable.
- Where existing business ventures and/or assets are being purchased, the applicant must demonstrate that all business transactions will be/are completed at fair market value.
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The Young Entrepreneurs Grant in Manitoba does not specify particular types of companies or industries that are eligible for the grant. Instead, it focuses on the eligibility of the applicants and the viability of the proposed business ventures rather than industry type.
Nothing.
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The Young Entrepreneurs Grant has specific restrictions regarding the types of companies and industries that are not eligible to apply. Below is a summary of the restrictions related to the status and main activity of the company:
- Expansion of the applicant's existing business.
- Businesses that cannot provide the applicant with a living wage (provincial minimum wage).
- Applicants who are receiving grant funding from any other Federal or Provincial program.
- Applicants who have received the Young Entrepreneurs Grant in the past.
- Purchase of existing businesses that provide regulated professional services in self-governing professional occupational categories in Manitoba (e.g., Lawyer, Dentist, Engineer).
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The Young Entrepreneurs Grant provides funding for the following eligible expenses related to business start-up and capital costs:
- License fees
- Space rental
- Telephone installation
- Utilities
- Office supplies
- Equipment rental
- Business travel costs
- Inventory costs (eligible up to 50% of the expense)
- Recent purchases of land, buildings, office equipment, and other significant equipment and fixtures
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The Young Entrepreneurs Grant is available to businesses based in Manitoba, Canada. This program encourages young Manitobans to start viable businesses and pursue self-employment as a career choice.
- Manitoba, Canada
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The Young Entrepreneurs Grant program evaluation is based on the applicant's eligibility, business plan viability, and the ability to provide a minimum of 15 hours per week to the business. Selection criteria include business being year-round and permanent, providing full-time self-employment, being Manitoba-based, creating a profit, and demonstrating viability through a business plan.
- Applicant's age between 18-29 years.
- Canadian citizenship or landed immigrant status.
- Principal applicant involved in day-to-day business management.
- Business must provide principal applicant with full-time self-employment.
- Business must be Manitoba-based and year-round.
- Business must be profitable and demonstrate viability through a business plan.
- Applicant must commit a minimum of 15 hours per week to the business.
- Restrictions on expansion of existing business, non-living wage businesses, grants from other programs, and regulated professional services purchases.
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Step 1: Review Application Requirements
- Read and understand the Young Entrepreneurs Grant application.
- Ensure all eligibility criteria are met.
- Prepare a business plan including all key sections outlined in the Business Plan Overview checklist.
Step 2: Prepare Documentation
- Make a copy of your Young Entrepreneurs Grant application.
- Prepare copies of the business plan and all correspondence for your records.
Step 3: Fill Out Application
- Complete the Young Entrepreneurs Grant application form.
Step 4: Submit Application
- Email the completed application and business plan to youthpartnerships@gov.mb.ca
- Or mail to: 230-800 Portage Ave., Winnipeg, MB R3G 0N4
Step 5: Maintain Documentation
- Keep a log of daily business activities and hours worked.
- Preserve receipts for all business-related purchases made during business start-up.
Step 6: Await Notification
- Wait for a notification letter regarding the funding decision.
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Here are some additional details that can be beneficial for the Young Entrepreneurs Grant applicants in Manitoba:
- Applicants should keep receipts for all business-related purchases during the start-up phase; receipts will be required if the application is approved for reimbursement and for tax purposes.
- Grant funding is considered taxable income for the year it is awarded.
- Approved applicants must maintain and submit a log of daily hours and activities during the first 300 operation hours.
- Public announcements may be made regarding grant recipients, and recipients must participate in grant evaluation efforts.
- Government staff have discretion in assessing applications and determining grant amounts, and they may request additional documentation to verify eligibility.
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youthpartnerships@gov.mb.ca
204-945-2500
Apply to this program
Understanding the Young Entrepreneurs Grant in Manitoba
The Young Entrepreneurs Grant is designed to support young Manitobans aged 18-29 in establishing full-time, sustainable businesses by providing up to $10,000 in non-repayable funding to cover eligible startup costs. The aim is to encourage self-employment as a viable career choice, promoting economic development within the province.
Detailed Overview of the Young Entrepreneurs Grant: Empowering Manitoba’s Future Business Leaders
The Young Entrepreneurs Grant is a forward-thinking initiative by the province of Manitoba aimed at fostering entrepreneurship among young adults. By offering financial support in the form of a non-repayable grant, the government seeks to address the financial hurdles that often prevent young entrepreneurs from launching successful businesses. This grant is particularly focused on individuals aged 18 to 29 who are poised to make substantial contributions to Manitoba's economic landscape by establishing businesses that are both innovative and viable.
One of the primary objectives of the Young Entrepreneurs Grant is to instill confidence among young people, encouraging them to consider entrepreneurship as a sustainable career path. The grant provides up to $10,000 to eligible applicants, a significant sum that can be pivotal in covering various startup costs. These may include the acquisition of necessary permits, facility rental, installation of telecommunications systems, procurement of office supplies, equipment leasing, and even business-related travel expenses. Furthermore, the grant extends support to inventory costs, covering up to 50% of these expenses, which is crucial for businesses dealing with goods and raw materials.
Applicants hoping to benefit from this grant must demonstrate their commitment to their business ventures. The criteria emphasize the necessity for applicants to be deeply involved in the everyday operations of their business, dedicating at least 15 hours per week to the venture if they are employed or enrolled in educational programs simultaneously. For those fully focused on their entrepreneurial endeavors, a minimum investment of 30 hours per week is expected, highlighting the importance of dedication and perseverance in the entrepreneurship journey.
Another critical aspect of the grant is its focus on ensuring that businesses are long-lasting and capable of providing long-term self-employment for the applicant. The initiative stipulates that businesses must operate year-round and eventually provide the applicant with at least a minimum wage income. By setting these criteria, the grant aims to promote the establishment of robust business ventures that not only fulfill the personal financial needs of the entrepreneur but also contribute positively to the broader economic context of Manitoba.
To qualify for the Young Entrepreneurs Grant, applicants must also supply a comprehensive business plan that convincingly illustrates the viability and potential success of their enterprise. This business plan must detail how the grant will be utilized effectively, shedding light on the cost structures and expected revenues that will enable the business to thrive. In this regard, the grant not only acts as a financial catalyst but also encourages young entrepreneurs to adopt a strategic and structured approach to business planning.
The application process is thorough and aims to ensure that only the most promising business ideas receive financial backing. Upon submission, all applications and accompanying business plans undergo rigorous evaluation by a Grant Coordinator. This evaluation seeks to verify both the eligibility of the applicant and the feasibility of the business plan. Should the application meet the necessary criteria, the applicant will receive a notification detailing the approval for funding and outlining the steps required for reimbursement claims.
Overall, the Young Entrepreneurs Grant is more than just a financial aid program; it is a comprehensive support system that seeks to nurture young talent in Manitoba. By focusing on young entrepreneurs, the grant helps cultivate a new generation of business owners who are equipped with the resources and motivation to make significant, long-lasting impacts on the province’s economy. For those recipients, the approval of their grant application marks not just a step towards their individual business goals but also a contribution to Manitoba's vibrant and dynamic economic future.