As part of the 20e On the occasion of the 10th anniversary of the Youth Strategy, an initiative that has enabled 10,000 young people to start their own businesses in the regions thanks to financing and coaching, the Réseau des SADC et CAE is today launching a portrait of young entrepreneurs in Quebec.
The portrait reveals the results of the strategy and the evolution of young entrepreneurs over the years. "I'm proud to mark the 20th anniversary of such a promising initiative for the economic development of Quebec's regions," says Daniel Dumas, President of the Réseau des SADC et CAE. "Since its inception, 125.5 M$ have been invested by CFDCs, creating and maintaining nearly 35,000 jobs in the regions and generating $1.3 billion in investments. The strategy is as relevant as ever, and the results speak for themselves," continues Mr. Dumas.
The Youth Strategy is the fruit of an exceptional collaboration between the Réseau des SADC et CAE and Canada Economic Development for Quebec Regions (CED).
"As Minister of Innovation, Science and Economic Development and Minister responsible for CED, my goal is to help start-ups play a fundamental role in the growth of the Canadian economy. The Youth Strategy of the Réseau des SADC et CAE definitely contributes to achieving this objective," adds Minister Navdeep Bains.
Unique data on young entrepreneurs
This document, distributed today, was produced using our unique data collected annually for the past 20 years by 57 CFDCs from their Youth Strategy clients. Nearly 70 indicators have been analyzed, including the age, gender, education, type of business and needs of the young entrepreneur. The result is a highly accurate profile of the evolution of entrepreneurship over the years.
From passion to business
Among the main findings, entrepreneurship is more in vogue, and for different reasons. Emerging entrepreneurs are choosing to start their own business out of passion, rather than necessity as was the case 20 years ago, when unemployment was much higher in Quebec. There has also been an increase in start-up projects, and more business succession projects.
Support is always necessary
Young entrepreneurs are better informed, more connected, self-reliant and adept at finding the information they need on the web. When they meet with their youth advisor, they arrive well prepared and aware of the importance of marketing and the visual aspect of products, and they care about social media. They are well equipped to understand and meet the needs of their customers. Even so, guidance remains essential. Our data shows that the more entrepreneurs have access to it, the more their business grows, becomes profitable and creates jobs.
According to Renaud Trudel of Nahak Sports, a company supported by the SADC de Lotbinière, "the Stratégie jeunesse loan played a crucial role in getting our business off the ground, as well as enabling us to meet a team of dynamic advisors who listened to our needs". Nahak Sports is a manufacturing company specializing in innovative, high-performance equipment for harnessed canine sports such as canicross.
Our advisors are proactive and understand the current issues and needs of young entrepreneurs, such as marketing, technology integration, business financial management, and employee hiring and retention.
"Whether it's at start-up or in a context of entrepreneurial succession, the SADC, via the Youth Strategy, has always been able to support not only the company, but also the entrepreneurs behind it," adds Jean-Sébastien Descôteaux, of DIVEL, an automation and robotization company supported by the SADC de la MRC de Maskinongé.
To consult A PORTRAIT OF YOUNG ENTREPRENEURS
Find out more about the Youth Strategy
The aim of the Youth Strategy is to encourage young people aged 18 to 39 to go into business for themselves, while giving them a taste for settling in the region. It's a comprehensive strategy that involves both raising awareness of entrepreneurship in schools and helping young people develop their businesses. It also offers a unique and advantageous financial product, a personal loan ranging from $5,000 to $25,000, which provides young entrepreneurs with a downpayment to present to a financial institution.
Credit : http://www.sadc-cae.ca/fr/communiques/155-communique-lancement-du-portrait
