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Provincial program provides summer opportunities for entrepreneurial students

December 22, 2022   ·   0 Comments

By Brian Lockhart

As college and university students head into the second semester of school, they will also have to start thinking about summer employment.

While many students are lucky enough to have a regular summer job they can return to, for others, the idea of starting their own business can be attractive. It will help them make some money while getting valuable experience.

Running a summer business provides management, sales, marketing, bookkeeping, and customer relationship experience as well as networking opportunities.

Some students will be eligible for financial help from the provincial government through the Summer Company program. The program provides start-up money as well as advice and mentorship from local business leaders to help them get a business up and running.

Students may be eligible for the program if they go to high school, college, or university. They must live in Ontario, be a Canadian citizen or permanent resident, be 15 to 29, not already running a business, and not working at another job or going to school for more than 12 hours per week.

Students must also be returning to school after the program ends.

The program is for first-time businesses only and you can not apply if you have received a Summer Company grant previously.

Students can choose to start almost any type of business as long as it is a sole proprietorship, corporation, or independent business venture, qualifies as ‘self-employed’ for income tax purposes, operates in Ontario on a full-time basis, and follow government rules for operating a business.

The program usually gets underway from May to June depending on when a student is ready to start. A student must be prepared to commit a minimum of 280 hours for high school students, and a minimum of 420 hours for post-secondary students.

Once a student has applied for the program, they will be contacted by the program provider who will ask the student to submit an application which includes a business plan and cash flow. If the application meets the program’s requirements, the student will be invited to an interview.

If accepted, a student will have to sign an agreement with the program provider, agree to follow the program guidelines, verify that the business name has been registered, have a bank account for the business, and agree to at least one site visit from the program provider.

Successful Summer Company program applicants may receive a maximum award of $3,000. This includes up to $1,500 upfront to help with start-up costs and up to $1,500 when the program requirements are completed.

Students interested in finding out more about the Summer Company program or interested in applying for a grant can visit the provincial website at: www.ontario.ca and visiting the Small Business Enterprise Centre page.

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