CYBF suggests millennials a generation of entrepreneurs
Jan. 9, 2014, Canada – Seventy-five per cent of the Canadian workforce will be made up of millennials in 2028; a generation driven less by financial success and more by securing flexible and fulfilling careers, indicated the Canadian Youth Business Foundation (CYBF).
The organization said that millennials are eager to turn their passions into reality and twice as likely to open a small business. As a result of these indicative findings, CYBF has launched the Owners Wanted initiative to help potential owners get their business started.
"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 Julia Deans, CEO of CYBF, in a prepared statement. "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."
Pre-launch coaching, mentoring, business resources and low-interest financing of up to $45,000 are some services that the organization offers.
"I had a business idea that related to my passion for the arts, but without any experience, I had no idea where to go and how to get started," said Samantha Chan, owner of Paintlounge, in a press release. "CYBF and my mentor worked with me to further develop my idea, create a business plan, and secured my financing. Today, my business is thriving and I was just able to open a second location in the GTA."
CYBF has invested in more than 5,600 young and emerging entrepreneurs across Canada.