Support for young entrepreneurs.Thanks to a partnership recently forged between the Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. Youth Business Foundation (Youth Business), the Northwestern Ontario Northwestern Ontario is the region within the Canadian province of Ontario which lies north and west of Lake Superior, and west of Hudson Bay and James Bay. It includes most of subarctic Ontario. Technology Centre (NOTC NOTC New Orleans Track Club (New Orleans, Louisiana)
NOTC Northwestern Ontario Technology Centre
NOTC Naval Officer Training Centre (Canada)
NOTC New Old Time Chautauqua ) and the Young Entrepreneurs of Thunder Bay Thunder Bay, city (1991 pop. 113,946), SW Ont., Canada, on Thunder Bay inlet of Lake Superior. The city was created in 1970 by the amalgamation of the twin cities of Fort William and Port Arthur and two adjoining townships. YETB, aspiring as·pire
intr.v. as·pired, as·pir·ing, as·pires
1. To have a great ambition or ultimate goal; desire strongly: aspired to stardom.
2. young entrepreneurs in Thunder Bay have easier access to the funding necessary to start up their own businesses.
The Canadian Youth Business Foundation is a non-profit, private sector initiative, that provides micro-credit financing, mentoring and on-line support. to young Canadians Young Canadians (originally The K-Tels) were a Vancouver punk rock band active for just under two years. The YC's were influenced not only by the other punk bands in town at that time such as D.O.A. and the Pointed Sticks, but also by the Dolls, Stooges, and 60s garage rock. between the ages of 18 and 29, while NOTC is a full service business centre dedicated to developing young,' technology-based companies through support; sound business advice and a nurturing environment.
Melissa Gorrie, a youth co-ordinator for Youth Business, NOTC and YETB, says the partnership allows for a unique new service in Thunder Bay because it is geared specifically to youth.
Applicants with the most viable business plans are selected by a volunteer panel of business and community leaders to receive start-up financing.
Under the partnership, small business financing will be available specifically to Thunder Bay's young entrepreneurs. In addition to this, local entrepreneurs will be able to capitalize on Cap´i`tal`ize on`
v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. Youth Business' other two programs: Mentoring and YouthBusiness.com. The latter is a comprehensive, interactive, on-line resource that provides information, feedback and support in a virtual community
"The funding is basically coming from CIBC CIBC Canadian Imperial Bank of Commerce
CIBC Centres Interinstitutionnels de Bilan de Compétences
CIBC Commonwealth Institute of Biological Control (Trinidad)
CIBC Commercial International Brokerage Company and Royal bank," Gorrie says. "They support the Canadian Youth Business Foundation, so they're the partners for that"
Gorrie says an added benefit is the boost the initiative will give to Young Entrepreneurs of Thunder Bay, a group of young business people who act as a voice for young entrepreneurs by providing educational seminars, social and networking opportunities and peer support.
"The Young Entrepreneurs (of Thunder Bay) are already established," Gorrie says. "(They) will benefit by getting the people who are getting the loans from Youth Business to join their association. That's why there's a partnership between them."
But the greatest benefit, Gorrie says, is the support young entrepreneurs will receive for their business ventures from YETB and others who have experienced the same triumphs and challenges. It could be the difference between keeping aspiring entrepreneurs in Thunder Bay or having them seek business opportunities out-of-town.
"The' greatest benefit is that this supports the youth and breaks the barriers that (their peers at YETB) have already seen 'happen to them when they started up," Gorrie says. "They want to change that for the aspiring young entrepreneurs that are graduating from entrepreneur-ship programs who don't have the start-up money right away and who can't get a bank loan."
"This program is going to help them, and they can in turn join the Young Entrepreneurs association and have networking opportunities and peer support."
Youth Business was founded in 1996 by CIBC, Royal Bank and the Canadian Youth Foundation. Since then, it has helped start nearly 500 businesses which have in turn created over 700 new jobs. In addition to more than 40 corporate sponsors, Youth Business also has over 1,000 volunteers and operates in 30 communities across Canada Across Canada was an afternoon program that formerly aired on The Weather Network. The segment ran from early 1999 until mid 2002. The show ran from 3:00PM ET until 7:00 PM ET. .
"The Northwestern Ontario Technology Centre, Young Entrepreneurs of Thunder Bay and also Development Thunder Bay basically brought (the program) to Thunder Bay," Gorrie says. "It's been a long time in the making to get the program here. (Youth Business) is a national organization, and they have to find someone in a city who can qualify to be a partner. NOTC qualified for that because they support businesses in town,. especially technical businesses. They're able to feed off each other if there's a youth who receives a technical base loan. (NOTC) might be able to help them get set up in the NOTC (building)."
The NOTC, which first opened its doors in September 1999, functions as a not-for-profit organization and includes representation from the private sector, the chamber of commerce, Development Thunder Bay, Thunder. Bay Telephone, Lakehead University Lakehead University, at Thunder Bay, Ont., Canada; founded 1946 as Lakehead Technical Institute. It achieved university status in 1965. Lakehead has faculties of arts and science, business, education, engineering, forestry, library and information studies, nursing, , Confederation College Confederation College is a provincially funded community college located in Thunder Bay, Ontario, Canada. It was established in 1967, and has area campuses in Dryden, ON, Fort Frances, ON, Geraldton, ON, Kenora, ON, Marathon, ON and Sioux Lookout, ON. , the associated chambers of commerce and the Northwestern Ontario Municipal Association.
Detailed loan application information is available from the Youth Business website at www.cybf.ca.