The Vaughan Business Enterprise Centre prepares youth for the business world
The Summer Company mini series is back for the second year and this summer we’re featuring 24 new young entrepreneurs. The young innovators attended their first orientation meeting on June 13 and we’re excited to showcase what they have to offer. This summer’s cohort of promising young entrepreneurs is preparing to enter the business world. Get ready to see creative services such as application development, sales, marketing, catering, coding and more.
Summer Company is an annual program run by the Vaughan Business Enterprise Centre (VBEC) in partnership with the Ministry of Economic Development, Employment and Infrastructure. Summer Company started in 2001 and caters to people aged 15 to 29. It’s an opportunity for ambitious young minds who want to start their own summer business. Each applicant will receive business training, mentorship, and up to $3,000 in funding for their startup business.
This group of entrepreneurs will receive exposure to Vaughan’s business community. Mentorship, seminars and workshops will be provided to them to help develop their marketing, networking, research and management skills.
According to Forbes, the average failure rate for startup companies is 80 per cent in the first year. Summer Company is an opportunity to teach young entrepreneurs what it takes to succeed in business. In Ontario, 5,008 jobs were created through businesses launched by Summer Company from 2006-12. In fact, 43 per cent of past participants were still running their businesses in 2013.
We’ll be blogging regularly throughout the summer so stay tuned to see what Summer Company has in store for Vaughan.
Raphael Costa, PhD
Small Business Consultant
Vaughan Business Enterprise Centre
Visit the City of Vaughan’s website at vaughan.ca.