NORTHERN ONTARIO YOUNG ENTREPRENEUR

Supporting Business Skills Development and Start-Up for Northern Youth

For too long, one of Northern Ontario’s most precious resources, its youth, has been exported never to return home. The NOHFC Young Entrepreneur program aims to mobilize a new generation of entrepreneurs and community builders in the North, securing a more prosperous future for tomorrow’s northern families and workers.

Who is Eligible?

• Residents of Northern Ontario, 18 to 29 who are planning on starting their own for-profit business in the North.
• The new venture cannot be an expansion or natural extension of a similar business owned by the young entrepreneur and/or family members or direct relatives.

What is Eligible?

Examples of costs that may qualify for funding include, but are not limited to:

• Capital costs related to starting a new business such as office furniture, fixtures and equipment.

Certain costs and projects will not be considered eligible for funding. These include, but are not limited to:

• Financing existing debts, purchasing an existing business or personal expenses etc.
• Costs incurred prior to the approved project start date.

Funding and Guidelines

• Generally, funding does not have to be repaid and may cover up to 85 per cent of eligible costs, to a maximum of $25,000 per project.
• The young entrepreneur must make a cash investment in the business equal to 10 per cent of the NOHFC’s conditional contribution.
• The proposed new business will operate as a full-time business and create a minimum of one new job in Northern Ontario.

Please download the Program Brochure below for complete details including eligibility, funding and guidelines.

How to Apply

Send completed application forms to:

Northern Ontario Heritage Fund Corporation
70 Foster Drive, Suite 200
Sault Ste. Marie, Ontario
P6A 6V8
fax: 1-705-945-6701
email: nohfc.ndm@ontario.ca

For More Information call our toll free line 1-800-461-8329