Non-profit helps record number of young Canadians start their own businesses

Non-profit helps record number of young Canadians start their own businesses

Communities across Canada benefit from local business success

Toronto, Canada – April 3, 2014 – The Canadian Youth Business Foundation (CYBF) is pleased to announce that it has helped 800 young entrepreneurs launch new businesses in communities across Canada in the past 12 m onths. This is a record high for CYBF which for 18 years has supported startups with financing, mentoring and other resources, and represents a 37.6 per cent increase over last year.

“We are delighted to have helped fuel the entrepreneurial passions of so many of Canada’s young entrepreneurs” said Julia Deans, CEO, CYBF. “We couldn’t have supported the success of 800 businesses without the tremendous support of our thousands of dedicated mentors, funders, community partners and corporate supporters, and we thank each and every one of them.”

With small businesses representing 98% of all businesses in Canada, the country’s future depends on ensuring that the next generation of young entrepreneurs can flourish in ways that benefit all Canadians and the world.

CYBF has helped launch small businesses in a variety of industries. In Winnipeg, Manitoba, Bracor Environmental keeps highways, roads and parking lots ice-free, with an innovative and environmentally friendly, liquid anti-ice alternative to salt. In Charlottetown, PEI, GetGifted helps local merchants to attract new customers, by investing in an innovative marketing approach while establishing their social media presence. In Sherbrooke, Quebec, Immune Biosolutions Inc creates high quality products for biomedical research based on antibodies from bird eggs. In Whistler, BC the Green Moustache feeds local demand for an organic juice and live food bar. In Toronto, Ontario, ThinkDirty smartphone app, informs consumers about potentially toxic ingredients in cosmetics and personal care products, with easy-to-understand product information from an independent resource.

With a robust offering of financing, mentorship, and business planning resources CYBF works with the Government of Canada and other public and private sector funders to support young people in creating viable and successful businesses. Moving forward, CYBF is well positioned to continue on a steady growth trajectory, with a goal to support 975 businesses over the next year.

CYBF-supported entrepreneurs are in business in communities across Canada. To learn more about a young entrepreneurial success in your area, contact Nicolee Tattersall, ntattersall@cybf.ca.

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About the Canadian Youth Business Foundation
The Canadian Youth Business Foundation (CYBF) is a national non-profit organization dedicated to growing our nation’s economy one young entrepreneur at a time. We look at character not collateral, when providing youth aged 18-39 with pre-launch coaching, business resources, low-interest financing of up to $15,000, and industry-leading mentoring to help them launch and sustain successful businesses. CYBF’s co-financing partner, the Business Development Bank of Canada, leverages CYBF’s application process to provide up to $30,000 in additional support for CYBF entrepreneurs.

Established in 1996, CYBF has been recognized as a global leader in advancing youth entrepreneurship. CYBF is a founding member of the global G20 Young Entrepreneurs’ Alliance, the Canadian member of The Prince’s Youth Business International and the Canadian host of Global Entrepreneurship Week (November 18-24, 2013). www.cybf.ca.

For more information, contact:
Nicolee Tattersall
Manager, Media Relations
Canadian Youth Business Foundation
e. ntattersall@cybf.ca
o. 416-408-2923 ext. 2208