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Home My WebLink AboutCAO-16-002 - SBC - Summer Company Program Agmt REPORT TO: Council DATE OF MEETING: Jan 25, 2016 SUBMITTED BY: Chris Farrell, Manager, Small Business Centre, 519 741 2200 x7294 PREPARED BY: Chris Farrell, Manager, Small Business Centre, 519 741 2200 x7294 WARD (S) INVOLVED: All DATE OF REPORT: Dec 15, 2015 REPORT NO.: CAO-16-002 SUBJECT:City of Kitchener - Waterloo Region Small Business Centre – Province of Ontario Agreement for Summer Company Program 2015 – 2016. ___________________________________________________________________________ RECOMMENDATION: That the Mayor and Clerk be authorized to sign a 1 year agreement with the Province of Ontario to deliver the Summer Company program. Said agreement to be to the satisfaction of the City Solicitor. BACKGROUND: Over the past 15 years the Waterloo Region Small Business Centre has delivered the Summer Company program to 262 students helping young entrepreneurs, aged 15 to 29, to start and run their own summer businesses. Successful program candidates receive an award of up to $3,000 from the Province of Ontario. The Small Business Centre provides support throughout the summer including, business training, mentoring, one-on-one coaching, startup day, market day and a graduation day. High school students participate for 8 weeks, College and University students participate for 12 weeks. Participants keep the profits generated through the operation of their businesses. The purpose of the Program is to raise awareness of entrepreneurship as a viable career option among the Province’s youth and to teach them the value of entrepreneurial skills in personal and career endeavours. REPORT: The City of Kitchener’s Waterloo Region Small Business Centre has been delivering the Summer Company program since 2001 as a “Fee for Services” transaction with the Province of Ontario. The Province has changed this program to a “Transfer Payment Agreement”, requiring a formal agreement with the City of Kitchener. th The one year agreement will be effective October 1, 2015 to Sept 30 2016. The province will contribute $61,500 for operating funds. Waterloo Region Small Business Centre will approve up to 35 students into the Summer Company program engaging students to run a business from June 1 to Sept 1, 2016. During the winter and spring months the Small Business Centre is engaged in community outreach activities to promote the Summer Company program in classrooms, on campus and at career fairs. One Business Advisor (existing staff) is dedicated to the program for 3 months and a co-op student is hired each year to assist *** This information is available in accessible formats upon request. *** Please call 519-741-2345 or TTY 1-866-969-9994 for assistance. 3. - 1 with administration, scheduling meetings and training sessions, and communications with students, mentors and volunteers. The Manager submits monthly activities and bi-annual financial reports to the Province. A final report st on the project is due Oct 31, 2016. The Summer Company 1 year budget is attached. ALIGNMENT WITH CITY OF KITCHENER STRATEGIC PLAN: Strategic Priority: Strong & Resilient Economy Strategy: #2.2 Support the attraction, retention and development of existing and new industries within the regional economy working in collaboration with the economic development corporation for Waterloo Region. Strategic Action: # 26 Make It Start # 27 Make It Grow FINANCIAL IMPLICATIONS: NONE. COMMUNITY ENGAGEMENT: Entrepreneurship and innovation contributes to economic growth in the community. The Centre provides programs and services that support and compliment other community entrepreneurial initiatives essential to the commercialization of small business as a collaborative partner in within this ecosystem. INFORM – The Province (Ministry of Research and Innovation) will announce the funding agreements to Municipalities with Small Business Enterprise Centres once the agreements have been signed. COLLABORATE – The City of Kitchener – Waterloo Region Small Business Centre communicates, consults and collaborates with a broad range of community groups, organizations, agencies, secondary and post-secondary institutes, municipal, regional and provincial governments to ensure the entrepreneurial services and programs address the needs of small business in the community. The volunteers for the Waterloo Region Small Business Centre and the Board of Advisors are representative of these community groups. ACKNOWLEDGED BY: Jeff Willmer, CAO 3. - 2 Summer Company – City of Kitchener – Waterloo Region Small Business Centre Budget October 1, 2015 – September 30, 2016 Budgetasof10/01/2015 ProjectDeliveryExpensesBudgetPlanActual Administration CashCash Wages&Benefits50,000 Student19,500 Rob30,500 ProjectDelivery Meetingsandevents2,000 Marketing&Outreach AdvertisingPromotion9,000 Travel&Training Travel500 ·9ã¦;;$61,500$ TOTAL$61,500$ RevenuesandResources CashCash ·w;Ý;Ò;;ã-Ò7zmazz·©ä$$ MinistryContribution FundingYear 20152016 ·azz·©ä/·©z,Ò·z$61,500$ ·w;Ý;Ò;L-Ò7zmazz·©ä$61,500$ TOTAL$$ 61,500 3. - 3