Ontario Supporting Small Businesses in York Region

Increased funding helps more people launch new businesses

NEWS July 16th, 2024

Newmarket — The Ontario government is supporting small businesses in York Region as the York Small Business Enterprise Centre (YSBEC) is receiving an additional funding allocation of $59,600 on top of their base funding allocation of $227,500 in Ontario’s 2024 budget for a total allocation of $287,100. This additional funding will allow YSBEC to continue providing services such as business consultations, seminars/workshops, mentorship and training, as well as micro-grants through the Summer Company and Starter Company Plus programs. The increased funding will specifically increase the number of Summer Company grants of $3000 by two and the number of Starter Company Plus grants of $5,000 by five.

“Our government is committed to driving economic growth and creating good paying jobs in York Region,” said Dawn Gallagher Murphy, MPP for Newmarket—Aurora. “With increased funding for YSBEC, we are expanding opportunities for entrepreneurs through the Starter Company Plus program to grow their businesses and for students to gain hands-on business experience through the Summer Company program.”

The Ontario government is investing an additional $6.8 million over the next two years to enhance grant funding and support for entrepreneurs. This includes:

$4.8 million over the next two years to expand the Starter Company Plus program, helping an additional 500 entrepreneurs seed, start or grow a business.
$1.5 million to bolster the Summer Company program, helping an additional 250 young people start and grow a business.
$500,000 to increase funding for the Fédération des gens d’affaires francophones de l’Ontario, ensuring Franco-Ontarians have the support they need to succeed.

“Small businesses are the backbone of York Region’s thriving economy, making up almost 90% of all local companies across our nine cities and towns,” said York Region Chairman and CEO Wayne Emmerson. “This additional funding will help new entrepreneurs and small businesses succeed, create more local jobs and contribute to our economically vibrant communities.”

The Starter Company Plus program, delivered through the province’s Small Business Enterprise Centres, provides entrepreneurs aged 18 and up with one-on-one support, access to workshops, seminars or networking events and grants up to $5,000 to help start or expand a business. Over the past five years, Starter Company Plus has supported over 5,500 companies resulting in the creation of more than 6,300 jobs across Ontario. This new investment will increase total funding for the program to $6.5 million per year.

The Summer Company program provides students between the ages of 15 and 29 with at least 12 hours of business training, one‐on‐one mentoring and grants up to $3,000 to start a full-time business. Over the past five years, the program, delivered through Small Business Enterprise Centres, has helped launch over 1,700 businesses across Ontario.

Small businesses play a critical role in our communities and are an essential part of Ontario’s economy, employing over two million people. Ontario offers a range of programs and supports to assist entrepreneurs towards starting and growing new companies, including Regional Innovation Centres, Intellectual Property Ontario, Summer Company and tailored options, advice and business analysis through business advisory services.

QUICK FACTS

Ontario’s Small Business Enterprise Centres provide entrepreneurs access to advisors, programs and services, as well as learning opportunities for small business owners specific to their region.
The Digitalization Competence Centre is a $10 million investment that provides small businesses support with digital literacy, accelerating digital adoption, and enhancing technological capacity.
Ontario’s 47 Small Business Enterprise Centres provide entrepreneurs access to advisors, programs and services, as well as learning opportunities for small business owners specific to their region.
The Digitalization Competence Centre is a $10 million investment that provides small businesses support with digital literacy, accelerating digital adoption, and enhancing technological capacity.

Quotes

“Driving the growth and success of small businesses in York Region is a priority in Ontario. By supporting initiatives such as the Summer Company Program and the Digitalization Competence Centre, we can ensure that our local businesses thrive, while also providing valuable experience to students.”

– Daisy Wai

MPP for Richmond Hill

“I am thrilled to see our government increasing the level of investment in the York Small Business Enterprise Centre,” said Caroline Mulroney, MPP for York-Simcoe. “I have seen firsthand how the Enterprise Centre benefits new entrepreneurs in Georgina, East Gwillimbury and King. New and small businesses play a critical role in growing our economy, and our government is proud to support them.”

– Caroline Mulroney

MPP for York—Simcoe

“Small businesses are the backbone of our economy. That is why our government is keeping taxes low, reducing red tape and standing up against the Carbon Tax to better support workers and small business owners. We will continue to invest and support hard-working entrepreneurs as they create good-paying jobs in King, Vaughan, and across York Region.”

– Stephen Lecce

MPP for King—Vaughan

“With this additional funding, the York Small Business Enterprise Centre will be able to continue providing fundamental services that ensure the success of York Region’s entrepreneurs and businesses, contributing resources to those who are looking to expand and grow their businesses. Through programs such as the Summer Company and Starter Company Plus, our government is dedicated to providing learning opportunities that encourage York Region’s youth to take the first step in building a business.”

– Paul Calandra

MPP for Markham—Stouffville

“Our government is committed to ensuring entrepreneurs and small businesses are supported in the York Region, through an increase in funding for the YSBEC.This investment is providing entrepreneurs hands-on mentorship and training, the creation of new jobs and small businesses, and overall strengthen Ontario’s economy.”

– Michael Tibollo

MPP for Vaughan—Woodbridge

For further information please contact:

Scott MacLean

Constituency Assistant

Email: Dawn.GallagherMurphy@pc.ola.org

Phone: 905-853-9889