Pilot program fosters next generation of entrepreneurs

The next generation of Victoria entrepreneurs is getting its start thanks to a new pilot program.

The next generation of Victoria entrepreneurs is getting its start thanks to a new pilot program.

Youth Mean Business provides financial assistance and business coaching for eligible people 18 to 29 years of age.

Since its launch earlier this year, the program has worked with business ideas ranging from a doula to a yoga instructor to a musician.

“This is designed to provide the tools needed to take a business idea and develop it into a viable venture,” explains program manager Leaverd Carnegie.

Participants are given free access to a wide range of practical support tools and entrepreneurial expertise, ranging from one-on-one business coaching to leading-edge online and in-person training, which can be tailored for the individual.

Participants — they must be unemployed and have no EI attachment — may also receive a living allowance for up to six months while they complete and present a business plan.

“This allows them to totally focus their time on their business plan, research and proving that their idea is viable,” says Carnegie.

Participants interview their competition and potential clients, and obtain letters of intent and interest before they open.

Their business coach provides guidance and training, to ensure they don’t get stalled or overwhelmed.

“Youth see a business plan as being very intimidating and a lot of work. Our program helps them break it down into smaller parts that they can handle, one piece at a time, until it’s finished.”

The financial support is critical, Carnegie says, since it allows participants to support themselves while focusing on their business plan and future success. Other financial aid — a training allowance — covers courses they need to sharpen their skills.

Youth Mean Business can provide start-up money, and participants can take their business plans to lenders.

“There is nothing better than seeing someone succeed,” says Carnegie, who for the last three years was a business coach with a self-employment program on the Island, and in that role assisted more than 120 people in researching, writing and implementing their business plans.

He has more than 15 years of business-building experience, ranging from a small business account manager with CIBC, to financial consulting. He holds an economics degree from the University of Victoria and is a level 3 certified general accountant.

Interested youth in the Capital Regional District can find out more about the program by visiting www.ethoscmg.com/ymb.html, searching for Youth Mean Business on Facebook, or @YMBvictoria on Twitter.

For more information, contact Carnegie at 250-384-9283 or leaverd.carnegie@ethoscmg.com.




Just Posted

Grass fire on Henlyn Drive sees quick response from Sooke Fire Rescue

An early afternoon grass fire at the north end of Henlyn Drive… Continue reading

Staff recommend major boost to Langford council pay

After 13 years without an increase, mayor’s pay would double over next five years

Sooke council urged to move faster on off-leash dog park plan

Resident questions why five of seven restricted parks are in Sooke

Plans for Colwood’s Royal Beach property moving forward

Seacliff Properties to hold open house on June 25

Victoria couple seeks community’s help after e-bike stolen for second time

Voltbike stolen from parking garage on Quadra Street

VIDEO: Acknowledging skeptics, finance minister vows to build Trans Mountain project

Bill Morneau said he recognizes ‘huge amount of anxiety’ in Calgary over future of oil and gas sector

Greater Victoria wanted list for the week of June 18

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

POLL: Do you support the government’s decision to approve the Trans Mountain pipeline expansion?

The federal government announced Tuesday its approval for the Trans Mountain pipeline… Continue reading

Girl, 10, poisoned by carbon monoxide at B.C. campsite could soon return home

Lucille Beaurain died and daughter Micaela Walton, 10, was rushed to B.C. Children’s Hospital on May 18

30 years later: B.C. woman uses sidewalk chalk to reclaim site of her sexual assault

Vancouver woman didn’t think her powerful story, written in chalk, would ignite such support

Slain friend motivates rookie football player to make it with hometown B.C. Lions

Jaylen Sandhu, stabbed to death in 2014, a source of inspiration for promising RB Jamel Lyles

Sooke council urged to move faster on off-leash dog park plan

Resident questions why five of seven restricted parks are in Sooke

Driver of stolen vehicle caught after fleeing accident scene in Island community

Section of Chemainus Road closed until suspect located and eventually taken into custody

Home care for B.C.’s elderly is too expensive and falls short: watchdog

Report says seniors must pay $8,800 a year for daily visits under provincial home support program

Most Read