{"id":1912,"date":"2019-08-16T18:54:13","date_gmt":"2019-08-16T22:54:13","guid":{"rendered":"https:\/\/futurpreneur.ca\/?p=1912"},"modified":"2024-02-13T11:50:48","modified_gmt":"2024-02-13T16:50:48","slug":"management-commentary-on-financial-results-for-2019-2019","status":"publish","type":"post","link":"https:\/\/futurpreneur.ca\/en\/blog\/management-commentary-on-financial-results-for-2019-2019\/","title":{"rendered":"Management Commentary on Financial Results for 2019\/2019"},"content":{"rendered":"

RESOURCE INVESTMENTS<\/span><\/b>\u00a0<\/span><\/p>\n

At\u00a0<\/span>Futurpreneur<\/span>, our priority is to support entrepreneurs across Canad<\/span>a<\/span>\u00a0\u2013 and to accomplish this we ensure our investments and resource allocations start with them.\u00a0\u00a0<\/span>\u00a0<\/span><\/p>\n

Over the last three fiscal years, we have supported close to 3,000 youth-led businesses.\u00a0<\/span>\u00a0<\/span><\/p>\n

In fiscal 2019, new businesses that\u00a0<\/span>were financed<\/span>\u00a0through debt slowed a bit across Canada, due to rising interest rates and broader economic factors.\u00a0<\/span>Futurpreneur\u2019s<\/span>\u00a0results also reflect this overall trend.\u00a0<\/span>\u00a0<\/span><\/p>\n

Futurpreneur<\/span>\u00a0ensures those who apply for our core Start-up Program will have access to support to start and grow their businesses. In our last fiscal year, those programs and supports represented 82 per<\/span>\u00a0<\/span>cent of our total investment, while costs for administration were kept to 8 per<\/span>\u00a0<\/span>cent and the remaining 10 percent was invested to build program awareness, outreach and fundraising capacity.\u00a0\u00a0<\/span>\u00a0<\/span><\/p>\n

The average cost to deliver our core programs has increased in\u00a0<\/span>f<\/span>iscal<\/span>\u00a02019 to\u00a0<\/span>reflect additional<\/span>\u00a0post-disbursement client support for our entrepreneurs.\u00a0<\/span>\u00a0<\/span><\/p>\n

More than\u00a0<\/span>four<\/span>\u00a0of every\u00a0<\/span>five<\/span>\u00a0entrepreneurs repay their loans in\u00a0<\/span>full,<\/span>\u00a0enabling their repayments to fund the next cohort of new business owners. We continue to provide strong support to our loan recipients for the five years their term loan is outstanding with us, providing flexibility to serve their needs with early redemption options and restructuring.\u00a0\u00a0<\/span>\u00a0<\/span><\/p>\n

\"Chart<\/p>\n

FINANCIAL SOURCES OF SUPPORT\u00a0\u00a0<\/span><\/b>\u00a0<\/span><\/p>\n

While many not-for-profits are striving to retain current funders and identify new sources of support,\u00a0<\/span>Futurpreneur<\/span>\u00a0is prepared and well positioned to respond to ongoing demand for fundraising and partnerships. Our strength, in a large part, is due to our diversification in our sources of support. We don\u2019t rely on any one source and\u00a0<\/span>have built<\/span>\u00a0a significant loan asset that is providing funds covering more than half of our annual cash requirements. We attract funders based on our ability to match and leverage their investments with other sources of support<\/span>,<\/span>\u00a0and this is a strong differentiator of our model.<\/span>\u00a0<\/span><\/p>\n

Several multi-year commitments for support from funders enable us to<\/span>\u00a0<\/span>continue existing programs while also building out new resources and support to help businesses start and position for\u00a0<\/span>growth.<\/span>\u00a0To ensure a growing number of entrepreneurs will have access to loan capital, we also have a line of credit with the Business Development Bank of Canada, solely for the purpose of supporting young entrepreneurs with access to loan capital that exceeds other internal resources and sources of funds. Additional funds from the line of credit were not required in fiscal\u00a0<\/span>2019, with<\/span>\u00a0only $4.3 million drawnat March 31, 2019 of a potential $8 million available.\u00a0<\/span>\u00a0<\/span><\/p>\n

\"Chart<\/p>\n","protected":false},"excerpt":{"rendered":"

RESOURCE INVESTMENTS\u00a0 At\u00a0Futurpreneur, our priority is to support entrepreneurs across Canada\u00a0\u2013 and to accomplish this we ensure our investments and resource allocations start with them.\u00a0\u00a0\u00a0 Over the last three fiscal years, we have supported close to 3,000 youth-led businesses.\u00a0\u00a0 In fiscal 2019, new businesses that\u00a0were financed\u00a0through debt slowed a bit across Canada, due to rising […]<\/p>\n","protected":false},"author":3,"featured_media":1913,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[16],"tags":[],"class_list":["post-1912","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money-and-finance"],"acf":[],"_links":{"self":[{"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/posts\/1912","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/comments?post=1912"}],"version-history":[{"count":0,"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/posts\/1912\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/media\/1913"}],"wp:attachment":[{"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/media?parent=1912"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/categories?post=1912"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/tags?post=1912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}