Youth Entrepreneurship
Funding Guide
The Short Answer: How young entrepreneurs can access government funding programs in Canada.
"Am I Eligible?" Micro-Quiz
Take 10 seconds to answer these questions and instantly see if you meet the baseline criteria for this funding.
Top Youth Funding Programs
The gold standard for Canadian youth startups. Offers up to $60,000 in financing (collateral-free) + a hand-picked mentor for 2 years.
For students aged 15-29 returning to school in the fall. Provides up to $3,000 in grants (non-repayable) to run a summer business. Includes hands-on coaching.
Not strictly "youth" but very youth-friendly. Administered by local Small Business Enterprise Centres (SBECs). Offers training and a potential grant of up to $5,000.
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Need expert help with your grant application? Our funding specialists guide you through every step.
The Futurpreneur Path
Register & Eligibility
Sign up on the Futurpreneur portal. Confirm you are 18-39 and a Canadian citizen/PR.
Draft Your Plan
Use their "Business Plan Writer" tool. You *must* demonstrate how you will generate cash flow to repay the loan.
Mentor Matching
This is unique. You must agree to work with a mentor for 2 years. They will match you, or you can bring your own.
Funding Disbursement
Once approved, BDC and Futurpreneur disburse the funds. It usually takes 4-8 weeks total.
Common Questions About Youth Funding
1. Do I have to pay back the money?
For Futurpreneur and BDC financing: Yes. These are loans, not grants. You must repay them with interest (typically over 5 years). However, programs like Summer Company offer non-repayable grants.
2. What if I am 40 years old?
You are ineligible for the specific Futurpreneur program. However, you can still apply for standard small business loans through the Business Development Bank of Canada (BDC) or your local credit union, though the collateral requirements may be stricter.
3. Can I apply if I am a full-time student?
Generally, no. Futurpreneur requires you to be working full-time on your business. If you are a student, you should look at the Summer Company program or student venture funds offered by your university.
4. Do I need collateral (e.g., a house)?
No! That is the primary benefit of Futurpreneur. It is an "unsecured" loan, meaning you do not need to pledge assets like a house or car to get approved.
5. How long does the process take?
From submitting your application to receiving funds, it typically takes 4 to 8 weeks. The longest part is usually refining the business plan to meet their standards.
6. Is the mentor mandatory?
Yes. You cannot get the money without the mentor. This is a feature, not a bug—statistically, businesses with mentors are twice as likely to survive past year 5.
Youth Funding FAQs
Can I apply if I'm a student?
For Futurpreneur, generally no, unless you are in your final year or operating a full-time business. For Summer Company, yes, you must be a student.
Is the money taxable?
Loans are not taxable income. Grants (like Summer Company) are taxable income for your business.
Can I use the money for anything?
Mostly yes, for operating costs, marketing, equipment, etc. You cannot use it to refinance existing debt or pay yourself a salary as the very first expense.
Launch Your Future
We help young entrepreneurs build credible business plans that get approved by Futurpreneur and BDC.
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