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July 28, 2014
Toronto launches Starter Company program to help youth entrepreneurs
  
Today Mayor Rob Ford and Councillor Michael Thompson (Ward 37 Scarborough Centre), Chair of the City's Economic Development Committee, announced details about the City of Toronto's participation in the Government of Ontario's Starter Company program.

"Driving economic growth and job creation is a top priority of my administration. Today, the City of Toronto is focussed on creating the conditions that help foster business development. As part of this focus, the City of Toronto is pleased to be part of Starter Company," said Mayor Rob Ford. "This program supports youth employment and small business development. Creating new opportunities in both of these areas is extremely important to the future of our great city."

The launch event took place at Coalition Music, one of Toronto's Starter Company program partners, who will provide expertise and training through their respected artist entrepreneur incubator program.

The Starter Company program is part of the Government Ontario’s Youth Jobs Strategy announced in the 2013 Ontario Provincial budget. Administered by Enterprise Toronto in Toronto, the program will provide successful applicants 18 to 29 years of age with a grant of up to $5,000 to start, grow or buy a small business. The grant also provides a tailored training program for successful applicants with one-on-one mentoring with an Enterprise Toronto advisor and successful local entrepreneurs.

"Small businesses account for 97 per cent of all firms in Toronto and nearly half of the city's total employment," said Councillor Thompson. "With more and more young people turning to entrepreneurism for employment, greater support for new enterprises is essential to the continued growth and prosperity of our economy in the years ahead.”

Applications are being accepted now through March 2016. More than 45 grants will be awarded. More information is available at http://www.toronto.ca/enterprisetoronto.

More information about how the City helps business is available at http://www.toronto.ca/business.

Toronto is Canada's largest city, the fourth largest in North America, and home to a diverse population of about 2.8 million people. It is a global centre for business, finance, arts and culture and is consistently ranked one of the world's most livable cities. Toronto is proud to be the Host City for the 2015 Pan American and Parapan American Games. For information on non-emergency City services and programs, Toronto residents, businesses and visitors can visit http://www.toronto.ca, call 311, 24 hours a day, 7 days a week, or follow us @TorontoComms.

Media Contact
Shane Gerard
Strategic Communications
416-397-5711
sgerard@toronto.ca

 

 

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