HomeMy WebLinkAboutCAO-18-005 - Waterloo Region Small Business Centre - Agreement with the Province - Summer Company ProgramREPORT TO: Finance and Corporate Services
DATE OF MEETING: March 5, 2018
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 12, 2018
REPORT NO.: CAO-18-005
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 abusiness. Said agreement
to be to the satisfaction of the City Solicitor.
That the Executive Director of Economic Development and the Manager of the Small
Business Centre be authorized to execute agreements satisfactory to the City Solicitor
with recipients of grants under the Summer Company Program.
BACKGROUND:
Over the past 17 years, the Waterloo Region Small Business Centre has delivered the Summer
Company program to 305 students. Many continue to operate a business part-time, full-time or start
other businesses.
The purpose of the Program is to raise awareness of entrepreneurship as a viable career option among
endeavours.
REPORT:
The 2018 Summer Company program budget is $140,000over 1 year.
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 onestaff person.
Students age 15-29, planning to return to school, are eligible to apply to the program by submitting a
business plan on-line. Staff evaluate the viability of the business plan, interview each student and
make recommendations to management for approval to the program. High school students participate
for 8 weeks, college and university students participate for 12 weeks. Once approved students are
award of up to $3,000 to help start and run a summer business. The first disbursement is $1,500 to
*** 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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help with startup costs; the final disbursement is awarded on completion of the program. Participants
keep the all profits generated through the operation of their businesses.
The program activities include; launch day event,training, workshops, mentoring meetings,networking,
one-on-one coaching, trade show, anda graduation event.
AllGrants 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
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 within this
ecosystem.
INFORM The Province (Ministry of Economic Development and Growth) posts the project on the
Provincial website.
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: Dan Chapman CAO
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