Young Entrepreneurs Program (YEP)

By mmuise
Description:

The Young Entrepreneurs Program encourages Manitoba’s young people to start their own full-time, viable businesses, and in the process pursue self-employment as a career choice. Applications are accepted on a year-round basis from youth aged 18 to 29 years. Under the Young Entrepreneurs program, approved applicants are eligible for a grant of up to $10,000 to help defray business start-up costs and capital expenditures.


Comments on Funding:

Grants can be up to $10,000, with a required minimum contribution of 25% from applicants.

Deadline: Continuous Intake
Eligibility:

Eligibility criteria:


    Applicants:
  • Youth 18 to 29 years of age are eligible to apply. (Proof of age will be required.)
  • Must be Canadian citizens or have received landed immigrant status.
  • Where more than one business partner or investor is involved, the principal applicant to the program must be significantly involved in the management of the business. Not all business partners must be eligible youth, but the principal applicant must be 18-29 years of age and meet all eligibility criteria.
  • The applicant must plan to work at the business on a full-time basis (min. 30 hours a week) and may not be employed elsewhere more than 20 hours a week or attending school on a full-time basis.
  • The applicant must be actively involved in all aspects of the business on a day-to-day basis.

    Business Ventures:
  • Must be year-round and permanent in nature. Proposals to initiate part-time or seasonal businesses will not be considered.
  • Must provide the principal applicant with full-time self-employment (min. 30 hours a week).
  • Must be based within Manitoba.
  • 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 venture has a reasonable chance of success.
  • Must not be an expansion of an existing business.
    • 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.

    Eligible Startup Costs
    License fees, space rental, telephone installation, utilities, office supplies, equipment rental, business travel costs, etc. Inventory costs are not eligible.
    Eligible Capital Cost Expenditures
    Recent purchases of land, buildings, office equipment and other significant equipment and fixtures.

    The application intake for the Young Entrepreneurs Grant Program is now closed. Please check back regularly for program updates.
Application Steps:

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Documentation Needed:

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Other Things to Note:

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About the author
mmuise