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 .jpg) Programs and Services Youth Opportunities Unleashed (YOU)The purpose of the YOU program is to assist young adults between 18 and 34 years of age to consider opening a business in their community. YOU has three components: FinancingThrough the Saskatchewan Enterprise and Inovation's Small Business Loans Association (SBLA) Program, a YOU entrepreneur can access up to $15,000 to assist in starting or expanding his/her business. To qualify for these loans, the YOU entrepreneur must present a complete and feasible business plan including a three-year financial projection to their local SBLA. In addition, the loan applicant must complete a loan application that includes a demand promissory note, a general security agreement and an application fee. During the application process a YOU entrepreneur will be expected to provide information to the SBLA related to his/her intentions for training and arranging for a mentor. YOU entrepreneurs can use SBLA loans to purchase assets, such as equipment. Monies cannot be used for operating expenses or for repayment of existing debt. Loans are granted at competitive interest rates, which vary with each association, up to a maximum of 10% per year. Businesses have up to five years to repay their loans. The Board of Directors of the SBLA will assess all proposals on the feasibility of the business concept and approve or decline your loan. Applicants may be required to pledge additional security such as specific assets, provide a co-signor or a guarantor. Entrepreneurial TrainingThere are many workshops, seminars, training programs and courses available to help you succeed in business in Saskatchewan, so it can be confusing when you try to determine the one(s) that best meet your interests, locale, wallet, etc.
These workshops will help you learn what you need to know to become a successful entrepreneur. They offer the type of practical business knowledge - assessing the viability of your business ideas, developing a business plan - that helps transform dreams into reality. MentorshipThe Business Mentorship Institute of Saskatchewan (BMI) was formed to assist community groups to establish a mentorship chapter in their area. For additional information on eligibility details, visit the Canada Saskatchewan Business Service Centre. For further information on mentorship, the Business Mentorship Institute office is located in Saskatoon and available to mentors and protégés throughout the province. Business PlanningEntrepreneurship is a key to job creation in Saskatchewan. Entrepreneurs, working alone or in co-operatives, create the small businesses that provide most of the jobs in the province. The Business and Co-operative Information Resource Materials Index contains links to all of the information to guide you through the steps toward starting and operating your business. A Memo of Understanding was announced in June 2007, between the Ministry, the Business Mentorship Institute and Canadian Youth Business Foundation (CYBF) to help enhance available funding to young entrepreneurs and to support training and mentorship. At the heart of making this unique partnership work with CYBF and BMI is Saskatchewan's network of 236 active Small Business Loans Associations who serve as an access point for these young entrepreneurs. The CYBF is a national charity founded in 1996 to provide start-up mentoring, financing and business resources for young Canadians aged 18-34 to create their own successful businesses. More information on the CYBF can be found at www.cybf.ca.
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