Table of contents
Introduction
Getting started
Regulations
Taxation
Programs and financing
Other resources
Introduction
Entrepreneurship can begin at any age. This guide will introduce you to the basics of starting a business and highlight government programs available to young entrepreneurs in Ontario.
To be eligible for youth entrepreneur programs, you need to be between 15 and 39 years old. Please refer to the individual program descriptions in this guide for more information.
There is no minimum age for starting a business. However, you need to be at least 18 years old to sign contracts or other legal documents. If you are under 18 and starting a business, you may need someone who is over 18 to sign legal documents on your behalf. Discuss your business ideas with a parent or guardian before you start.
Getting started
Regulations
Taxation
Programs and financing
Some of the support programs and financing options specifically for young entrepreneurs include:
Futurpreneur Canada Start-up Program
BDC - young entrepreneur
You may be eligible for funding or services to support your business, including:
- Start-up financing
- Small business lending for specific projects
- Business coaching
- Sales, marketing and business expansion advice
Contact BDC:
1-877-232-2269
Young entrepreneur
Summer Company
If you are a current student returning to school in the fall, you could get up to $3,000 to help you start and run a summer business.
You may be eligible if you are:
- Proposing a new business
- A resident of Ontario
- A Canadian citizen or permanent resident
- Committed to working an average of 35 hours per week
- Not operating a business or working elsewhere for over 12 hours per week during the program
- Not a past participant of Summer Company
Other conditions apply.
Age range: 15 to 29
Contact Employment Ontario:
1-800-387-5656
Summer Company
Junior Achievement Canada
If you are a high school student wanting to start a business or improve your financial education, you may want to contact Junior Achievement Canada.
How it works: Local businesses partner with your school’s teachers to give you real-world skills and mentorship from local business leaders.
There are three types of programs:
- Financial Literacy: Learn how to create and manage wealth, as well as develop skills in areas such as budgeting, investing and creating financial plans.
- Work Readiness: Learn how to communicate, network, interview for jobs and collaborate with diverse groups of people to achieve common goals.
- Entrepreneurship: Gain first-hand experience in running a successful business and learn how to create business plans, innovate, manage teams and take a new product to market.
Contact Junior Achievement Canada:
1-800-265-0699
Junior Achievement Canada
Canada’s Outstanding Young Farmer's Program
If you are a young farm operator (earning at least two-thirds of your gross income from farming) or pursuing post-secondary education leading to a diploma or degree in agriculture, you may be able to access mentoring, scholarships and other resources through Canada’s Outstanding Young Farmer's Program.
Age range: 18 to 39
Read online:
Canada’s Outstanding Young Farmer's Program
OUT for Business Youth Entrepreneur program
As a 2SLGBTQI+ (Two-Spirit, Lesbian, Gay, Bisexual, Transgender, Queer, Intersex, Plus) youth entrepreneur, you may be eligible for support to grow your business. To apply for the program’s annual cohort, you need to:
- Identify as a member of the 2SLGBTQI+ community
- Be between 18 to 39
- Have a registered business in Canada
The program offers:
- One on one and team mentoring
- Networking opportunities
Contact Canada’s LGBT+ Chamber of Commerce (CGLCC):
1-866-300-7556
OUT for Business Youth Entrepreneur program
See also: 2SLGBTQI+ business guide
Rise
If you are a youth entrepreneur facing mental health or addiction challenges, you could get, depending on the program, $300 to $10,000 to help start, grow or promote your product or service. Mentoring and help with developing your business plan and entrepreneurship skills are also available.
To be eligible, you need to:
- Be between the ages of 16 and 29
- Be a Canadian citizen or a permanent resident
- Self-identify as someone facing mental health or addiction challenges
- Be unable to obtain traditional bank financing for your business
- Not be in active bankruptcy
Other conditions apply.
Read online:
Rise
Other resources
Additional links that may be of interest to youth entrepreneurs include:
- Entrepreneurship Pathway
- Specialized Youth Entrepreneurship Curriculum
- Entrepreneurial potential self-assessment
- Professional skills and entrepreneurship
- Manage your finances