CYBF. Canada’s ‘Go To’ Place for YOUNG ENTREPRENEURS!

Canadian Youth Business Foundation (CYBF)

The Canadian Youth Business Foundation (CYBF) is a national charity dedicated to championing tomorrow’s entrepreneurial nation builders. Why? Because our future depends on creating new businesses: to fill the economic gap that is being felt as many small business owners retire, drive innovation, create jobs and support Canada’s overall economic prosperity. This is particularly important as 71% of small business owners will retire within 10 years, with 41% retiring within the next 5 years.

We do this by investing time and money in aspiring young entrepreneurs, age 18-34, who have a great business idea, but find it difficult to obtain financing or mentoring through traditional sources.

CYBF delivers our program coast to coast through a collaborative network of likeminded organizations that we call Community Partners (CPs). They are integral to our success and act as our local ‘store front’. Along with our more than 3,000 volunteers including business mentors, they champion youth entrepreneurship in their communities and directly work with young people to guide them through the entire CYBF process to obtain funding and a mentor. The CPs and their volunteer Loan Review Committee (LRC) members are essential to the entrepreneur’s success and in preventing outward migration of youth from their respective communities.

Founded in 1996, CYBF has invested in more than 3,500 young people, whose businesses have generated millions in sales tax and export revenues, and created more than 16,900 new jobs.*

* These figures are estimates only and based on extrapolated data from a sample survey of CYBF clients conducted in July 2009.

CYBF offers stakeholders four fully integrated programs that are built around the ‘life cycle’ of a young entrepreneur, that help to ensure the success of every new start-up. With a 94% repayment success rate, we know our approach works:

Pre-Launch Coaching

Everyone needs a coach. Most of Canada’s leading entrepreneurs attribute the majority of their accomplishments to having a professional business coach.

To address this need, CYBF offers a free Pre-Launch Coaching program to fill this important need. Through the hands-on personal guidance of the program’s seasoned Entrepreneur-In-Residence (EIR), CYBF provides budding entrepreneurs with help on a wide variety of topics, including: Creating a solid business plan or developing financing strategies.

Online Business Resources

At CYBF we recognize the importance of having the right tools and easy access to quality resources for all of our stakeholders. That is why CYBF offers a robust online Business Resource Centre to service the needs of Entrepreneurs, Mentors, Community Partners and our Loan Review Committee Members.

Financing up to $40,000*

Money. It’s the lifeline of any business. However, when it comes to young people looking to secure financing for their new start-up, with little to no collateral and/or student debts, it can be a daunting task. CYBF provides start-up financing based on character and a great business idea, of up to $15,000, with flexible three to five year repayment schedules, and no principal payments in the first year. Furthermore, the Business Development Bank of Canada teamed up with CYBF to provide entrepreneurs with up to an additional $15,000 to get their businesses off the ground. Plus we offer expansion financing of up to $10,000* for existing CYBF entrepreneurs.

Additionally, CYBF recognizes that newcomers to Canada sometime face additional barriers. That's why our financing application process and our adjudication requirements have been adjusted to allow individuals who do not have an established credit history or long standing references to apply with different documentation.

World-Class Mentoring

At some point in every successful person’s career, someone said, “I believe in you.”

CYBF’s highly qualified and dedicated business mentors bring their years of experience to our young entrepreneurs; encouraging them, sharing their knowledge so youth can learn, and celebrate their successes. Their advice helps new business owners stay focused and achieve great results. We hand-match every entrepreneur with a professional business mentor for a minimum of two years, to ensure they have support during the critical start-up phase.