'Millennials' Are Reshaping The Canadian Small Business Landscape At Twice The Rate Of 'Non-Millennials', In A Style Unique To Their Generation(1)

A New Campaign For Young Entrepreneurs Turns 'Half-Brewed' Ideas Into Small Business Realities

TORONTO, Jan. 6, 2014 /CNW/ - By 2028, 75 per cent of the Canadian workforce will be made up of millennials - a generation driven less by financial success and more by securing flexible, fulfilling careers. Eager to turn their passions into reality, millennials are twice as likely to start up a small business.² The Canadian Youth Business Foundation (CYBF) recognizes the important role millennials are playing in changing the face of our economic landscape and have launched the Owners Wanted initiative to help potential owners get from idea to opening day.

This month, CYBF experts will be stationed at independent coffee houses in Toronto, Vancouver, Regina and Saskatoon to help take the stress out of exploring a business idea by providing mentorship and advice to help take things to the next level. Coffee shops have become a gathering place for this entrepreneurial generation - replacing the traditional boardroom. It's where ideas are born and actualized.

"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," says Julia Deans, CEO, CYBF. "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."

The small business is a driving force in the Canadian economy, and as the national non-profit organization for young entrepreneurs, CYBF is dedicated to fostering a new generation of small business owners. CYBF helps ensure they are set up for success through pre-launch coaching, business resources, low-interest financing of up to $45,000 and industry-leading mentoring.

"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," says Samantha Chan, owner of Paintlounge, an innovative business that combines social and creative art. "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, whose businesses have created over 23,000 new jobs, $163.6 million in tax revenue and hundreds of millions of dollars in sales and export revenue. CYBF delivers its program coast-to-coast through a national network of community partners and thousands of volunteer business mentors.

For a complete list of locations and to book a time with a CYBF expert, please visit www.ownerswanted.ca.

About the Canadian Youth Business Foundation (CYBF)

The Canadian Youth Business Foundation (CYBF) is a national non-profit organization dedicated to growing Canada's economy one young entrepreneur at a time. We look at character, not collateral, when providing youth aged 18-39 with pre-launch coaching, business resources, low-interest financing of up to $15,000, and industry-leading mentoring to help them launch and sustain successful businesses. CYBF's co-financing partner, the Business Development Bank of Canada, leverages CYBF's application process to provide up to $30,000 in additional support for CYBF entrepreneurs. Established in 1996, CYBF has been recognized as a global leader in advancing youth entrepreneurship. CYBF is a founding member of the G20 Young Entrepreneurs' Alliance, the Canadian member of The Prince's Youth Business International, and the Canadian host of Global Entrepreneurship Week.

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¹ http://www.startupprincegeorge.ca/wp-content/uploads/sites/4/2013/03/DAY-ON-THE-HILL-MAIN-PRESS-RELEASE.pdf
² Industry Canada: http://www.ic.gc.ca/eic/site/061.nsf/eng/02804.html. Last accessed: December 6th, 2013.

SOURCE: Canadian Youth Business Foundation

Ethan Pigott
416-558-2783
[email protected]