From full-time small businesses to small side hustles, Ontario wants to empower new business owners
Young, business-minded individuals will benefit from a government annoucement made today.
Associate Minister of Small Business Nina Tangri said that the Ontario government will be investing $2 million into non-profit organization Futurpreneur during a press conference at Nostalgia Games Cafe this morning (Sept. 26).
Futurpreneur offers support, loan financing, resources and mentorship to young entrepreneurs across Canada. The organization has received around $7 million in funding from the province since 2021 and has helped to start and grow around 900 businesses in the same period.
“Business ownership at any age has its benefits,” Tangri said. “Pride of ownership, great products and hands-on knowledge that’s hard to learn from anywhere else. We’re working hard to provide a better environment to our entrepreneurs so that more businesses can start faster, grow larger and contribute to their communities.”
Nostalgia Games Cafe opened in November 2023 with help from Futurpreneur, and owners Sophia and George Zeng recommended the service to anyone hoping to start their own business.
Effie Triantafilopoulos said that Ontario has passed 11 red tape reduction bills since 2018 to benefit small businesses. Calum O’Malley
Futurpreneur CEO Karen Greve Young also attended the announcement and got to enjoy the cafe that the organization had helped to start.
“Being at Nostalgia Games Cafe, it’s so beautiful,” she said. “Our team is committed to making sure that diverse, young entrepreneurs like George and Sophia have the opportunity and the resources that they need to both start and succeed in business.”
Futurpreneur also offers a side-hustle program for entrepreneurs looking to start a new business but who plan to keep their day job or need to manage responsibilities at home, with smaller loans and different mentorship.
Tangri was joined by MPPs Natalie Pierre and Effie Triantafilopoulos for the announcement, who both stressed the importance of investing in small businesses.
“Small businesses are the backbone of our economy,” Triantafilopoulos said. “The steps we take have allowed entrepreneurs like George and Sophia to focus on what they do best: growing their business, investing in the community and creating good-paying jobs.”
The investment is part of the Ontario government’s ongoing focus on creating new jobs and bringing new businesses to the province.
“Ontario is truly open for business,” Triantafilopoulos said. “In the first eight months of this year alone, over 150,000 jobs have been created across the province. Our government has been working hard to make Ontario a top destination for entrepreneurs by cutting red tape and reducing the cost of doing business, making it easier for businesses to thrive.”
The $2 million invested in Futurpreneur this year is expected to support 300 young entrepreneurs and create around 1,200 jobs for the province.
