Group boosts young entrepreneurs

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This article was published 02/06/2022 (1368 days ago), so information in it may no longer be current.

Community Futures Westman is targeting young entrepreneurs in the making with small grants aimed at helping them get a business off the ground.

The Side Hustle microgrant program is new to Westman and gives people between 15 and 29 up to $500 to help launch their business, said executive director Bill Hogan.

Hogan said he doesn’t want young people to think of entrepreneurship as a “fallback” plan if they don’t get a job elsewhere.

“I’d like them to think of it as a career right from the beginning,” he said.

The non-repayable funds are meant to help start a side job or test a business without a huge financial risk. The money can go toward supplies, permits, equipment, marketing or professional development.

The program is focused on youth, women, Indigenous people, people with a disability and new immigrants. Funding is available for people living across Westman.

The money is enough to buy a lawnmower for yard work during the summer or to buy paint and brushes, he said. While it’s not a huge amount of money, it can help people set up their business.

It’s about helping out the people who have a great idea, but without the financial resources to get it rolling, Hogan said.

The program was originally started by the Parkland Community Futures organization but spread to others — including in La Ronge, Sask., where Hogan previously worked.

“Within the first three days, we have like 10 applications, so we knew we had some good impressions,” he said of the Westman program.

So far a computer repair business, a flyer service, an Indigenous arts business and a drone business have all applied for a grant, he said.

For pre-existing entrepreneurs, the money can be used to create a new product or service or expand a current business.

People accepted for grant money will also go through three training modules to help get started. The sessions focus on marketing, budgeting and creating a business plan, Hogan said. The first part of the program is about self-assessment so young entrepreneurs know what they need help with.

Community Futures Westman is accepting applications for the program until June 10 from youth across the region, he said. The target is to approve 20 microgrants, but more businesses could get funding on a case-by-base basis. 

“The skills [youth] learn in running a business is so transferable to any career that you go into. You’re going to learn sales, you’re going to learn marketing, you’re going to learn finance and accounting, you’re going to learn people skills … It gives them a confidence booster.”

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