Economic Development, Job Creation and Trade
WINDSOR — The Ontario government is investing an additional $2 million in Futurpreneur Canada to help more young people develop and launch businesses and strengthen Ontario’s economy in the face of U.S. tariffs and economic uncertainty. The funding will support 320 young entrepreneurs between the ages of 18 to 39 with access to financing, mentorship and support to start and grow successful businesses. As part of its plan to protect Ontario, the government is making strategic investments that protect workers, support small businesses and build a stronger, more self-reliant economy.
“Young entrepreneurs are the backbone of Ontario’s future,” said Nina Tangri, Associate Minister of Small Business. “By investing in initiatives like Futurpreneur Canada, we are giving the next generation of business leaders the tools they need to succeed. These businesses will protect our economy, create good-paying jobs and build thriving communities across the province.”
Futurpreneur Canada is a national not-for-profit organization that connects aspiring business owners with collateral-free loans of up to $75,000, two years of mentorship and in-person programming. Its flagship loan initiative, the Core Startup Program, helps youth aged 18 to 39 launch and grow their business. Since 2021, Ontario has provided $9 million in funding to Futurpreneur, helping to start and grow close to 1,200 businesses and create over 5000 jobs across the province, including in Northern, rural and remote communities.
“This renewed partnership with the Ontario government comes at a critical time for young adults across the province who are looking for meaningful ways to advance their careers and build a prosperous future,” said Karen Greve Young, Chief Executive Officer, Futurpreneur. “Thanks to this funding commitment, Futurpreneur will empower even more exceptional, young entrepreneurs to start or buy successful businesses that breathe life into all Ontario communities—whether urban, rural, remote, or Northern—not only by creating jobs, but also by connecting people.”
Small businesses are critical to the province’s economy, employing nearly two million people and making up 98 per cent of all Ontario businesses. Today’s investment builds on the government’s ongoing supports to help small businesses adapt, succeed and grow in Ontario. These include: Starter Company Plus, Summer Company, the Digitalization Competence Centre, the Retail Modernization Project Grant, and business advisory services through Ontario’s Small Business Enterprise Centres and Regional Innovation Centres.
Quick Facts
In 2024–25, Ontario’s 47 SBECs helped start over 8,000 businesses, expand 2,700 and create more than 15,800 jobs. Budget 2022, which is saving businesses $660 million in taxes over 2022-23 to 2026-27, by making the 9 per cent federal small business tax rate available to more businesses as they grow.
There are nearly 500,000 small businesses in Ontario. Ninety-eight per cent of businesses with employees are small businesses.
In 2024–25, Futurpreneur supported 351 businesses in Ontario, including 59 in Northern, rural, and remote communities.
Entrepreneurs can be eligible for collateral-free loan financing up to $25,000, which can be matched with up to $50,000 loan financing from the Business Development Bank of Canada for a total of up to $75,000.
Ontario’s Small Business Enterprise Centres (SBECs) provide advisory services, training, and programs to help entrepreneurs launch and grow businesses. The province’s network of SBECs will advise and refer young entrepreneurs to the Futurpreneur program.
Quotes
“Our investment in Futurpreneur Canada is both timely and important. The Core Startup Program offers the key supports needed to help aspiring business owners thrive and contribute positively to Ontario’s economy. This funding will ensure home grown businesses succeed, while helping us create the strongest economy in the G7.”
– Stéphane Sarrazin, Parliamentary Assistant to the Minister of Economic Development, Job Creation and Trade (Small Business) and Parliamentary Assistant to the Minister of Francophone Affairs
“Ontario’s young entrepreneurs have the vision and drive to shape our future,” said Andrew Dowie, MPP for Windsor–Tecumseh. “Through programs like Futurpreneur Canada, we’re helping them launch and grow businesses that create jobs and protect our economy.”
– Andrew Dowie, MPP for Windsor—Tecumseh
“Entrepreneurship is very important, and it is very hard to teach. That’s why the Futurpreneur initiative is so important. As the MPP for Essex, I know that there are great entrepreneurs in Essex County. We want those entrepreneurs to succeed, stay in Essex County, and create jobs in Essex County.”
– Anthony Leardi, MPP for Essex
“This 2-million-dollar investment in Futurpreneur is also an investment in Windsor’s future. Across our city, young people are ready to seize opportunities, launch new ideas, and build businesses that will strengthen families, neighbourhoods, and our economy. By giving them the tools and support to succeed, we’re not only unlocking individual potential, creating new jobs, and fostering innovation — we’re securing long-term prosperity for Windsor–Essex, for Ontario, and for Canada.”
– Drew Dilkens, Mayor of Windsor