Windsor — The Ontario government is injecting an additional $2 million into Futurpreneur Canada to help young entrepreneurs launch and grow businesses, a move officials say will bolster the province’s economy amid U.S. trade pressures and ongoing uncertainty in global markets.
The new funding is expected to support 320 entrepreneurs aged 18 to 39 by providing access to financing, mentorship, and business development resources. The investment builds on Ontario’s broader economic strategy to strengthen small businesses, protect workers, and foster a more self-reliant provincial economy.
“Backbone of Ontario’s future”
“Young entrepreneurs are the backbone of Ontario’s future,” said Nina Tangri, Associate Minister of Small Business. “By investing in initiatives like Futurpreneur Canada, we are giving the next generation of business leaders the tools they need to succeed. These businesses will protect our economy, create good-paying jobs and build thriving communities across the province.”
Futurpreneur Canada, a national not-for-profit, specializes in helping youth establish new enterprises by offering collateral-free loans of up to $75,000, two years of mentorship, and hands-on programming. Its Core Startup Program serves as the organization’s flagship initiative, connecting young business owners with both capital and guidance.
Since 2021, Ontario has directed $9 million toward Futurpreneur, which has contributed to the launch of nearly 1,200 businesses and created more than 5,000 jobs across the province, including in Northern, rural, and remote regions.
Renewed partnership
Karen Greve Young, Chief Executive Officer of Futurpreneur, said the funding arrives at a critical juncture for young Ontarians eager to build careers and economic stability.
“This renewed partnership with the Ontario government comes at a critical time for young adults across the province who are looking for meaningful ways to advance their careers and build a prosperous future,” Greve Young said. “Thanks to this funding commitment, Futurpreneur will empower even more exceptional, young entrepreneurs to start or buy successful businesses that breathe life into all Ontario communities—whether urban, rural, remote, or Northern—not only by creating jobs, but also by connecting people.”
The announcement took place in Windsor, a region hit hard by trade volatility and manufacturing challenges. Local officials emphasized that the investment would help unlock new opportunities for the next generation of business leaders.
Local voices highlight impact
MPP Andrew Dowie, representing Windsor–Tecumseh, said programs like Futurpreneur provide vital supports to help entrepreneurs establish businesses that sustain jobs.
“Ontario’s young entrepreneurs have the vision and drive to shape our future,” Dowie said. “Through programs like Futurpreneur Canada, we’re helping them launch and grow businesses that create jobs and protect our economy.”
Essex MPP Anthony Leardi underscored the importance of fostering entrepreneurship at the local level. “Entrepreneurship is very important, and it is very hard to teach. That’s why the Futurpreneur initiative is so important. As the MPP for Essex, I know that there are great entrepreneurs in Essex County. We want those entrepreneurs to succeed, stay in Essex County, and create jobs in Essex County,” he said.
For Windsor’s economy specifically, the investment carries long-term implications, said another local representative. “This 2-million-dollar investment in Futurpreneur is also an investment in Windsor’s future. Across our city, young people are ready to seize opportunities, launch new ideas, and build businesses that will strengthen families, neighbourhoods, and our economy,” the representative said. “By giving them the tools and support to succeed, we’re not only unlocking individual potential, creating new jobs, and fostering innovation — we’re securing long-term prosperity for Windsor–Essex, for Ontario, and for Canada.”
Small business: Ontario’s economic engine
Small businesses make up 98 per cent of Ontario’s business landscape and employ nearly two million people. The province has nearly 500,000 small firms, and officials say supporting them is critical to overall economic resilience.
“This funding will ensure home grown businesses succeed, while helping us create the strongest economy in the G7,” said Stéphane Sarrazin, Parliamentary Assistant to the Minister of Economic Development, Job Creation and Trade (Small Business) and Parliamentary Assistant to the Minister of Francophone Affairs.
The new investment complements a suite of other provincial programs aimed at helping small businesses adapt and thrive. These include Starter Company Plus, Summer Company, the Digitalization Competence Centre, the Retail Modernization Project Grant, and advisory services available through Ontario’s Small Business Enterprise Centres (SBECs) and Regional Innovation Centres.
In 2024–25 alone, SBECs supported more than 8,000 business launches, 2,700 business expansions, and the creation of over 15,800 jobs. Futurpreneur also provided direct support to 351 Ontario businesses last year, including 59 located in Northern, rural, and remote areas.
Financing opportunities
Under the Futurpreneur program, entrepreneurs may access collateral-free loans of up to $25,000 from the organization, which can be matched by as much as $50,000 in financing from the Business Development Bank of Canada (BDC). The combined $75,000 in potential funding, coupled with mentorship and training, is designed to reduce barriers for young entrepreneurs entering the business world.
Outlook
Ontario’s latest $2 million contribution signals a continued emphasis on strengthening small business capacity during a period of economic headwinds. By partnering with Futurpreneur, the government aims to not only stimulate job creation but also anchor long-term economic growth across the province.
For many young Ontarians, the program may offer the support needed to transform ideas into thriving enterprises, ensuring that small business remains central to the province’s economic identity.
