Last week, the provincial government, in collaboration with the Saskatchewan Chamber of Commerce, announced the launch of a new Young Entrepreneur Bursary program, which will provide bursaries of up to $5,000 to 57 young entrepreneurs across the province.
"The New Young Entrepreneur Bursary promotes business development and innovation, creating opportunities for small business owners and entrepreneurs across our Province," Minister of Trade and Export Development Warren Kaeding said in a written statement. "Collaboration between government and organizations like the Saskatchewan Chamber of Commerce is an important component of Saskatchewan's Growth Plan and our commitment to ensure the province remains one of the best places in Canada to start and grow a business."
Monica Osborn is the director of the Weyburn Chamber of Commerce, which is a part of the Saskatchewan Chamber of Commerce. She explained the program is for those between the ages of 18 and 35 who have been operating a for-profit business for 10 years or less. She noted the bursary isn’t just money. The recipients also get mentorship, peer-networking, and support from a province-wide business community.
“It’s a great initiative that can help boost young entrepreneurs,” Osborn expanded. “The bursary can be used for a variety of expenses, including some business development, such as branding, website, marketing campaigns, operations and equipment, products or services expansions, and professional development and workshops.”
There are a few requirements for the recipients as well. They must attend at least two mentorship sessions. There will also be workshops available, online and in person, with a report that is due at the end of the year.
Those who are interested in taking advantage of the program have until July 14th to apply. The recipients will then be announced on September 30th.
“If you are a young entrepreneur between the ages of 18 and 35, you can certainly apply on your own,” Osborn said. “Or, if you know of someone that is a young entrepreneur, you can also nominate them and then they’ll receive the information to go in and apply for that.”
The applications can be made on the Saskatchewan Chamber of Commerce website. The bursary program is under the initiatives tab at the top of their website.