Province Joins Forces with Futurpreneur Canada to Empower Entrepreneurship and Fuel Local Business Growth in Newfoundland and Labrador
St. John’s, NL – November 8, 2024 – The Government of Newfoundland and Labrador is partnering with Futurpreneur Canada to provide young entrepreneurs in the province with access to financing, mentorship, and resources to help them start and grow their businesses.
This partnership will see the province invest $1 million over three years in Futurpreneur Canada’s programs, which provide young entrepreneurs with access to loans of up to $60,000, mentorship from experienced business leaders, and online learning resources.
“Our government is committed to supporting entrepreneurship and helping young people succeed,” said the Honourable Andrew Furey, Premier of Newfoundland and Labrador. “This partnership with Futurpreneur Canada will provide young entrepreneurs in our province with the tools they need to turn their business ideas into a reality.”
According to the 2023 Global Entrepreneurship Monitor (GEM) report, Newfoundland and Labrador has one of the highest rates of entrepreneurial activity in Canada, with 14.3% of the population engaged in starting or running a new business. However, the report also found that young entrepreneurs in the province face a number of challenges, including access to capital, mentorship, and training.
“This partnership will help to address these challenges and ensure that young entrepreneurs in Newfoundland and Labrador have the support they need to succeed,” said Karl-Serge Jean, CEO of Futurpreneur Canada. “We are excited to work with the provincial government to help young people in the province achieve their entrepreneurial dreams.”
Futurpreneur Canada is a national non-profit organization that provides financing, mentorship, and resources to young entrepreneurs aged 18-39. The organization has helped over 14,000 young entrepreneurs start and grow their businesses since its inception in 1996.
“This partnership is a great opportunity for young entrepreneurs in Newfoundland and Labrador,” said Sarah Fleming, a young entrepreneur from St. John’s who received funding from Futurpreneur Canada. “The support I received from Futurpreneur Canada helped me to start and grow my business, and I am confident that this partnership will help other young entrepreneurs in the province to do the same.”
The partnership between the Government of Newfoundland and Labrador and Futurpreneur Canada is expected to launch in early 2025. Young entrepreneurs in the province who are interested in accessing Futurpreneur Canada’s programs can visit the organization’s website at www.futurpreneur.ca.
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