The federal government is stepping up to support aspiring entrepreneurs in Windsor-Essex with a $60-million budget allocation aimed at helping emerging business owners across Canada. This renewed investment, announced in the Liberals’ 2024 budget, will provide funding to Futurpreneur Canada, a non-profit organization that offers loan financing and mentorship to entrepreneurs aged 18 to 39.
Government House leader Steven MacKinnon made a stop in Windsor to share the news of Ottawa’s funding top-up for Futurpreneur Canada, which is expected to help launch approximately 6,250 new businesses nationwide over the next five years. Joined by local MP Irek Kusmierczyk and representatives from Futurpreneur Canada and Invest Windsor-Essex, MacKinnon emphasized the importance of supporting small businesses, which are the backbone of the economy and the spirit of the community.
Futurpreneur Canada has a track record of helping young entrepreneurs launch successful businesses, with over 17,700 entrepreneurs supported and 13,900 businesses launched nationwide. The renewed investment will be rolled out over the next five years, with contributions from corporate sponsors and partnerships with provincial governments.
According to Janis Nixon, Futurpreneur Canada’s vice-president of programs and partnerships, there is a significant opportunity for young entrepreneurs as a large percentage of small business owners in Canada are expected to retire in the next decade. This renewed commitment from the federal government ensures that young people across Canada can pursue their entrepreneurial dreams and contribute to local economies.