Summer Company
Highlights
This program is designed for you. It offers up to $3,000 in funding to help you start and run your summer business. You will receive $1,500 upfront to cover initial costs and another $1,500 upon successful completion of the program requirements. This financial support can make a significant difference in getting your business off the ground.
In addition to the funding, you will gain valuable mentorship and advice from experienced local business leaders. This guidance will help you navigate the challenges of running a business, from sales and marketing to bookkeeping and customer relationship management. These skills are not only essential for your summer business but will also benefit you in any future entrepreneurial endeavors.
The application process is straightforward, and you will receive support from your program provider to ensure your application is complete. Once approved, you will have access to resources and a network that can help your business thrive. This program is an excellent opportunity to gain practical experience, build your business skills, and earn money over the summer.
Financing Details
Type of Financing: Grant
Award Amount:
- Up to $3,000 in total.
- Up to $1,500 upfront to help with start-up costs.
- Up to $1,500 upon successful completion of the program requirements.
Eligible Expenses:
- Start-up costs.
- Business-related expenses that help in setting up and running the business.
Use of Funds:
- Funds can be used for a wide range of business expenses, including but not limited to:
- Purchasing equipment.
- Marketing and advertising.
- Inventory and supplies.
- Business registration and licensing fees.
Restrictions:
- Funds cannot be used for personal expenses.
- Funds cannot be used for any non-business-related activities.
Fees:
- There are no fees associated with this grant program.
Qualifications
- Must go to high school, college, or university.
- Must live in Ontario.
- Must be a Canadian citizen or permanent resident.
- Must be between 15-29 years old (if under 18: a parent or guardian must sign the agreement).
- Must not already be running a business.
- Must not be working at another job or going to school for more than 12 hours a week during the program.
- Must be returning to school after the program ends.
- Must be prepared to commit a minimum of 280 hours (high school students) or 420 hours (post-secondary students) over the summer program period.
- Business must be a sole proprietorship or corporation (where you are the majority shareholder).
- Business must be an independent venture (not part of an existing or family business).
- Business must qualify as “self-employed” for income tax purposes.
- Business must operate in Ontario on a full-time basis.
Business must follow government rules for operating a business.
Disqualifications:
- Must not have received a Summer Company grant in the past.
Description
This program offers you up to $3,000 to start and run a summer business. You get $1,500 upfront to help with start-up costs and another $1,500 when you complete the program successfully.
You can use the money for:
- Buying equipment
- Marketing your business
- Covering operational costs
In addition to the financial support, you will receive advice and mentorship from local business leaders. This guidance will help you develop essential skills like sales, marketing, bookkeeping, and customer relationship management.
The program runs from May to Labour Day, and you need to commit to a minimum of 280 hours if you are in high school or 420 hours if you are in post-secondary education. This is a great opportunity to gain hands-on experience and learn what it takes to manage your own business.
Program Steps
Register with a Small Business Enterprise Centre:
- Contact your local Small Business Enterprise Centre to start the application process.
Prepare Required Documentation:
- Gather the following documents:
- Proof of Ontario residency
- Proof of Canadian citizenship or permanent residency
- Proof of enrollment in high school, college, or university
- Business plan
- Cash flow statement
- Gather the following documents:
Submit Your Application:
- Complete the application form provided by your Small Business Enterprise Centre.
- Include your business plan and cash flow statement with your application.
Attend an Interview:
- If your application meets the program’s requirements, you will be invited for an interview with your program provider.
Receive Approval:
- After the interview, your program provider will notify you if you have been approved to participate in the program.
Sign Agreement:
- Sign an agreement with the program provider, agreeing to follow the program guidelines.
Register Your Business Name:
- Verify that you have registered your business name and provide any other required licensing documents.
Open a Business Bank Account:
- Ensure you have a bank account specifically for your business.
Participate in Mentorship Meetings:
- Meet with your program provider and business mentor for a minimum of four meetings over the program period.
Complete Program Requirements:
- Commit to a minimum of 280 hours (high school students) or 420 hours (post-secondary students) over the summer program period.
Receive Funding:
- You will receive up to $1,500 upfront to help with start-up costs and up to $1,500 upon successful completion of the program requirements.