HomeMy WebLinkAboutCAO-17-012 - Waterloo Region Small Business Centre - Agreement with the Province of Ontario for Summer Company Program
REPORT TO: Finance and Corporate Services
DATE OF MEETING: March 6, 2017
SUBMITTED BY: Chris Farrell, Manager, Small Business Centre 519-741-2200 ext 7294
PREPARED BY: Chris Farrell, Manager, Small Business Centre 519-741-2200 ext 7294
WARD (S) INVOLVED: All
DATE OF REPORT: February 17, 2017
REPORT NO.: CAO-17-012
SUBJECT:City of Kitchener, Waterloo Region Small Business Centre, Agreement
with the Province of Ontario re: Summer Company Program
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RECOMMENDATION: That the Mayor and Clerk be authorized to sign a one year funding
agreement with the Province of Ontario for the Summer Company program that
provides training, mentorship and grants for youth to start a business. The Province of
Ontario’s contribution is $140,000 for the program. The City of Kitchener agrees to
administrate and disburse up to thirty $3,000 grants to individuals successfully
completing the program. Said agreement to be to the satisfaction of the City Solicitor.
BACKGROUND:
Over the past 16 years the Waterloo Region Small Business Centre has delivered the Summer
Company program to 262 students. Many continue to operate a business part-time, full-time or started
other businesses.
Students approved to the program receive an award of up to $3,000 to help start and run a summer
business. High school students participate for 8 weeks, College and University students participate for
12 weeks. The program includes Startup Day, training, mentoring, networking, one-on-one coaching,
market day and a graduation event. 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 2017 Summer Company program budget is $140,000 over 1 year. The Province of Ontario’s
contribution is $140,000, with $50,000 allocated to operational expenses and $90,000 allocated to
support up to thirty, $3,000 grants. The program will employ 1 part-time and 1 co-op student.
The Summer Company program is open to students age 15 – 29 planning to return to school in the fall
of 2017. The program provides training, mentoring, grants and an entrepreneurial experience to start a
*** This information is available in accessible formats upon request. ***
Please call 519-741-2345 or TTY 1-866-969-9994 for assistance.
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business. Individuals submit a business plan on-line, are interviewed by staff for eligibility and viability
of the plan, once approved they receive 50% of the grant for startup expenses and 50% on completion
of the program. Throughout the summer students participate in training, mentoring and events while
operating the summer business. Grants are awarded to the individual from the funds allocated by
Province of Ontario.
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
ACKNOWLEDGED BY: Jeff Wilmer CAO
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