Ontario Increasing Support for Young Entrepreneurs

The Ontario government is investing $2 million in Futurpreneur Canada, a non-profit entrepreneurship organization, to help 300 young entrepreneurs start a new business. This investment will create approximately 1,200 new jobs with a focus on rural and Northern communities in Ontario.

“Young entrepreneurs are vital to our future economy and our goal is to provide the tools, resources and capital they need to succeed,” said Nina Tangri, Associate Minister of Small Business. “Futurpreneur Canada’s Core Startup Program will support young entrepreneurs’ business dreams and help launch a new generation of successful businesses.”

Futurpreneur Canada, provides financing, mentoring tools and resources to aspiring business owners aged 18-39 through their flagship loan initiative, the Core Startup Program. The program offers collateral-free loans of up to $75,000, two years of mentorship and in-person programming. Ontario’s investment will support entrepreneurs in rural, remote, and Northern communities to boost economic growth and create new jobs in these regions.

“Today’s announcement of the Government of Ontario’s continued partnership with Futurpreneur will help grow our reach and impact, particularly with entrepreneurs from rural communities,” said Karen Greve Young, CEO, Futurpreneur Canada. “Through this funding, Futurpreneur will provide loans with mentorship to help young entrepreneurs in Ontario start 300 new businesses this year, contributing to inclusive and sustainable economic development across the province.”

Small businesses play a critical role in our communities and are an essential part of Ontario’s economy, employing over 2 million people. Ontario offers a range of programs and supports to assist entrepreneurs towards starting and growing new companies, including Regional Innovation CentresSmall Business Enterprise CentresStarter Company PlusSummer Company and tailored options, advice and business analysis through business advisory services.


Quick Facts:

  • Collateral-free loans of up to $75,000 are comprised of up to $25,000 from Futurpreneur Canada and up to $50,000 from the Business Development Bank of Canada.
  • Ontario has supported Futurpreneur with $7 million in funding since 2021, helping to start and grow close to 900 business and creating nearly 3,500 jobs across the province.
  • Provincial funding of Futurpreneur programming is for Ontario residents only.
  • Small businesses account for 98 per cent of the more than 400,000 business across the province.
  • As announced in the 2024 Budget, Ontario is investing an additional $6.8 million in funding to support programs for small businesses including $4.8 million for Starter Company Plus, $1.5 million for Summer Company and $500,000 to the Fédération des gens d’affaires francophones de l’Ontario.
  • Ontario’s Small Business Enterprise Centres provide entrepreneurs access to advisors, programs and services, as well as learning opportunities for small business owners specific