Enhancing Youth Entrepreneurship in Budget 2024

The Canadian government has unveiled Budget 2024: Fairness for Every Generation, a comprehensive plan aimed at driving economic growth that benefits all Canadians. Deputy Prime Minister and Minister of Finance, Chrystia Freeland, along with Minister of Small Business, Rechie Valdez, highlighted the key initiatives of the budget, which focuses on creating a Canada where every generation can thrive.

One of the key investments in Budget 2024 is $60 million for Futurpreneur Canada, a national not-for-profit organization that supports young entrepreneurs. This funding will be matched by contributions from other levels of government and private sector partners, with the goal of enabling an estimated 6,250 additional businesses owned by young Canadians to launch and grow by 2029.

Futurpreneur Canada has a proven track record of helping young entrepreneurs access financing, mentorship, and other business supports. Over the years, the organization has supported over 17,700 young entrepreneurs in launching more than 13,900 businesses, creating thousands of jobs across the country.

Budget 2024 also focuses on investing in technologies, incentives, and supports that will increase productivity, boost innovation, and attract more private investment to businesses. By supporting Canada’s innovators, entrepreneurs, and researchers, the government aims to create good-paying jobs that Canadians can rely on.

Overall, Budget 2024 aims to build a fairer Canada where every generation has the opportunity to reach their full potential. By making the tax system fairer and asking the wealthiest to pay their fair share, the government plans to make investments that will benefit all Canadians. This responsible economic plan aligns with the fiscal objectives outlined in the 2023 Fall Economic Statement, ensuring that Canada maintains strong fiscal health compared to other G7 countries.