The Atlantic Canada Opportunities Agency is once again supporting an exciting summer of learning and entrepreneurial adventure for those young Islanders who register for The Young Millionaires Program. For the past decade, some of the most innovative and creative business ideas have come from the minds of young Island entrepreneurs who have participated in this program. Since its inception, more than 1,000 young entrepreneurs aged 8- 16 have shared the experience of running their own business through the Young Millionaires Program. This year marks the first time it will be offered in Charlottetown.

“The Young Millionaires Program offers the Island’s youth an opportunity to learn the necessary skills to succeed as an entrepreneur” said Joe McGuire, Minister of Atlantic Canada Opportunities Agency (ACOA). “Entrepreneurs have a strong sense of pride in their communities, whether they are urban or rural, and I am pleased that ACOA, through the Central Development Corporation, can support this program. Providing our youth with entrepreneurial skills works to our regions advantage, in that, these successful business owners will stay in Atlantic Canada and contribute to the strength and growth of our economy.”

“Many of the businesses that these young people launch are extremely creative,” Program Facilitator, Trent Smith notes. “Over the years, these young entrepreneurs have provided a wide variety of services such as cutting grass and web page development, while other participants have produced a broad range of products including, handmade jewellery, vegetables and candy kabobs."

The Young Millionaires Program provides the opportunity for Island youth to start their own business by supplying them with up to $100 in seed money (up to $150 for partnerships). In addition, one of the conditions of the program is that these aspiring young entrepreneurs attend four workshops designed to teach them the fundamentals of operating their own business. The workshops provide instruction on record keeping, marketing, time management, customer service and public speaking. “We hope to introduce youth to the concept of self-reliance and spark their entrepreneurial spirit, so that they can experience first-hand that business opportunities exist in their own communities,” said Smith.

ACOA is providing a non-repayable loan of $199,950 over three years to the Central Development Corporation to administer The Young Millionaires Program in conjunction with Active Communities Inc., La Société de Développement de la Baie Acadienne, Resources West Inc., and UPEI. The program is currently in its second year of this three year commitment.

Representatives from the affiliated agencies will be visiting schools over the next couple of weeks. Young people between the ages of 8-16 are encouraged to apply before the May 20th deadline.

Trent Smith
Program Coordinator 
Central Development Corporation
(902) 887-3400
trent@central.cbdc.ca
http://www.centraldevelopmentcorp.com

Ron Crozier
Office of the Minister of ACOA
(902) 888-4150

Lynn MacDonald
ACOA PEI and Tourism
(902) 566-7491
lynn.macdonald@acoa-apeca.gc.ca