The Canadian Youth Business Foundation (CYBF) is saying that our economy will soon be led by millennials, and we should be investing more resources into these small business owners to help launch their business ideas. In fact, by 2028, said the organization, 75 percent of the Canadian workforce will be made up of these millennials – a generation driven less by financial success and more by securing flexible, fulfilling careers. And millennials are twice as likely to start up a small business.
Today the CYBF is announcing the launch of its “Owners Wanted” initiative to help potential owners get from idea to opening day. Their experts will be “stationed” at independent coffee houses in Toronto Vancouver, Regina and Saskatoon this month, providing mentorship and advice to help take things to the next level. Coffee shops have become a gathering place for this entrepreneurial generation, replacing the traditional boardroom, explained the CYBF. “It’s where ideas are born and actualized.”
“A large number of the businesses opened in Canada are by a younger demographic and this is only expected to grow as the millennial generation takes a dominant place in the workforce. This is a new generation of small business owners who want something that is more than just a job, they want to do something that is personal and matters to them, and they’re not afraid to take that leap,” said CEO Julia Deans. “Lots of Canadians have business ideas, but may let their nerves and fears stop them from taking the first step, which is exactly why the Owners Wanted campaign was created.”
The CYBF is a national non-profit organization dedicated to “growing Canada’s economy one young entrepreneur at a time.”
CYBF has invested in more than 5,600 young and emerging entrepreneurs across Canada, whose businesses have created over 23,000 new jobs, $163.6 million in tax revenue and hundreds of millions of dollars in sales and export revenue. The foundation delivers its program through a national network of community partners and thousands of volunteer business mentors.Typically it can help young small business owners with pre-launch coaching, business resources, low-interest financing of up to $45,000 and industry-leading mentoring.