Summer Company

The Summer Company Program is an opportunity for eligible youth to be provided with business skills development, training, advice & mentoring. Appropriate participants can also apply for a grant of up to $3,000 to start their own business.

Applicants must meet all requirements as listed below, please contact the Business & Entrepreneurship Centre if you have any questions.

Participant eligibility

• A student between 15 and 29 years old (a parent or guardian must sign the application for applicants under 18)
• Starting a new business (if you’re unsure, contact Program Provider)
• Attending school and returning to school in the fall (this includes full-time, part-time, homeschooling, e-learning, distance learning, apprenticeships, trade schools, etc.)
• A resident of Ontario
• A Canadian citizen or a permanent resident
• Not working at another job or attending school for more than 12 hours per week during the duration of the program
• Following the Canada Revenue Agency definition of being self-employed
• Able to work over the summer program period:
• A minimum of 280 hours if you’re a high school student
• A minimum of 420 hours if you’re a post-secondary student

Business eligibility requirements

• Is a sole proprietorship or a corporation where you (the applicant) will be the majority shareholder
• Is an independent business venture
• Operates in Ontario
• Operates full-time as defined in the business plan
• Follows government rules and regulations for operating a business
• Businesses must meet all of the above requirements

Businesses not eligible for funding

• Partnerships/co-operatives
• Franchises
• Distributorships
• Incorporated businesses that are controlled directly or indirectly by a person who would not be eligible for a Summer Company award
• Business ventures that are subsidiaries or divisions of an existing business
• Business ventures that are continuations of existing commercial endeavours
• Commissioned sales
• Multi-level marketing ventures
• Single events such as a theatrical production, a DJ gig, a music concert, a dance/party event, a fundraiser, a sporting tournament, etc.
• Businesses that are strictly pay per click
• 1-900 businesses

Conditions

The program gives students the full experience of running their own business.

Note that:

• The program provider may, at its discretion, determine that a particular business is ineligible for the Summer Company program
• Online businesses are acceptable, but there must be face-to-face opportunities to market and sell your product
• App and tech businesses must be market ready and must generate sales by the end of the summer
• If you plan to run a business that requires certification, you’ll need to show proof to your program provider. If you’re unsure about certification obligations, ask your program provider. Certification examples include:
• Food handling certification for businesses that produce and/or sell food
• National Life Saving certification for businesses that offer swimming lessons
• Canada Professional Fitness Certification (CanFitPro) for businesses that offer personal fitness training
• Licenses for businesses that specialize in drone photography

Applying

Applicant is responsible for planning business operations with completion of a business plan, meeting with Program Coordinator and submitting start-up expense list. If your application is accepted, you will be eligible to receive an upfront award of up to $1,500 to put toward start-up costs and up to $1,500 upon successful completion of the program. Successful completion requires that you:

• Implement your project substantially in accordance with the business plan
• Participate in coaching and training
• Provide documents related to the experience and business operations as required in the guidelines
• Meet all program requirements for establishing and operating the business

Once approved, you’ll be required to:

• Sign a Letter of Agreement with the program provider describing each party’s rights and responsibilities (a parent or guardian Must sign the agreement for applicants under 18)
• Sign a Release and Consent form (a parent or guardian must sign the form for participants under 18)
• Show your business name registration and any required licensing documents to your program provider for verification
• Open and operate a bank account for the business
• Spend your first payment within the first 30 days
• Operate your business over the summer program period, according to your business plan and cash flow, for:
• a minimum of 280 hours if you are a high school student
• a minimum of 420 hours if you are a post-secondary student
• Meet with your local program provider and mentors for a minimum of four meetings to review and track your progress
• Agree to one site visit by the program provider
• Maintain appropriate business records of income and expenditures including receipts
• Participate in business training with your program provider

Term of the program

You may decide to start and/or continue your business while you’re in school, but for the purpose of the program’s administration, business operations can start no earlier than April 1 and must end by Labour Day.

Taxes

The grant is taxable under the Canada and Ontario Income Tax Acts. A T4A slip will be issued to the recipient of the award.

To Apply