More support for young people wanting to start or grow a business.

The provincial government is providing Futurpreneur Canada with $2 million to continue its programs.

It offers services such as collateral-free loans, mentorship and in-person programming to those 19 to 39.

“Young entrepreneurs are the backbone of Ontario’s future,” states Nina Tangri, Associate Minister of Small Business, in a release.

“By investing in initiatives like Futurpreneur Canada, we are giving the next generation of business leaders the tools they need to succeed. These businesses will protect our economy, create good-paying jobs and build thriving communities across the province.”

The program has provided support to nearly 1,200 businesses that have created over 5,000 jobs across the province since 2021.

Last year, over 350 business operators, including 59 in northern Ontario, were supported through the program.

“This renewed partnership with the Ontario government comes at a critical time for young adults across the province who are looking for meaningful ways to advance their careers and build a prosperous future,” states Karen Greve Young, Chief Executive Officer of Futurpreneur.

According to the Ontario government, 98 percent of the nearly 500,000 small businesses in Ontario are considered small businesses.