October 21, 2013
A project in partnership with the Canadian Youth Business Foundation has garnered a provincial award for the Trenval Business Development Corporation in Belleville. The project has seen 29 young entrepreneurs open businesses in Belleville and area, creating 77 jobs, so far. The Trenval Business Development Corporation (Trenval BDC) received the Award of Excellence for Business Support Services for its work in attracting and assisting young entrepreneurs.
Trenval’s Youth Entrepreneurship Program was selected for the prestigious award out of nominations from across the province and received the acknowledgement at the annual conference of the Ontario Association of Community Futures Development Corporations (OACFDC), held recently in Sarnia. Accepting the award on behalf of the Trenval BDC was Loans Officer Amber Darling.
Youth retention, which is vital for the growth and prosperity of rural communities, was seen as a valuable asset of this program by the OACFDC’s judges. Working in partnership with the Canadian Youth Business Foundation (CYBF) is also beneficial to the community. “Trenval first partnered with CYBF in 2009. The goals were to provide young entrepreneurs with access to capital, generate jobs and assist with business start-ups,” explains Trenval BDC Executive Director Glenn Kozak.
By working together, the partners are able to provide opportunities and support for young entrepreneurs without security and collateral – the loans are based on character and a solid business plan. Entrepreneurs under the age of 39 can apply for loans up to $15,000 from CYBF, and an additional $30,000 from the Business Development Bank of Canada, for a total of $45,000 in start-up financing. If needed, the Trenval BDC can provide additional secured financing.
Ms. Darling cites two examples of new businesses that are successful, thanks to her efforts in working with young entrepreneurs: Runway Bridal (wedding dress shop) in Belleville; and Port Bistro (restaurant and pub) in Trenton. Trenval BDC serves an area from Quinte West to Deseronto, and as far north as Stirling-Rawdon.
The partnership with CYBF requires that Trenval BDC develop a mentorship program for all business startups. “The mentors provide a two year commitment to the young entrepreneurs, who are matched with successful business people within our area,” explains Ms. Darling.
The total investment into the area served by Trenval from this program, including other leveraging, is over $1.5 million. “It’s created a great impact in our community,” Ms. Darling adds.
“We are pleased to honour Trenval BDC for their Business Support Services. It shows how proactive they are in partnering with another organization and easing the way for young people to start new businesses,” says Diana Jedig, Executive Director of the Ontario Association of Community Futures Development Corporations.
Community Futures Development Corporations (CFDCs) offer free business counselling, loans for start-up and expansion of small business, strategic planning on local projects, and community economic development in rural areas. Each CFDC is locally managed by a volunteer Board of Directors, funded with the support of the Government of Canada’s Economic Action Plan through FedNor and FedDev Ontario. To learn more about Community Futures Program in Ontario or the OACFDC, go to www.oacfdc.com
Photo: Working together with the Canadian Youth Business Foundation has resulted in a surge of youth entrepreneurship in the area served by the Trenval Business Development Corporation, which was honoured with a Business Support Services Award. At the presentation were: Mark Wilson, FedDev Ontario; Joanna March, Trenval Director; Amber Darling, Trenval Loan Officer; Glenn Kozak, Trenval Executive Director; Sponsor Sharon Wilson, Group Benefits Consultant; Glenn LeClair, Trenval Board Chair.
For more information about the Trenval Business Development Corporation, contact:
Amber Darling,
Loans Officer
Trenval BDC,
284B Wallbridge - Loyalist Road PO Box 610
Belleville, Ontario K8N 5B3
Phone: (613) 961-7999
Fax: (613) 961-7998
Website: www.trenval.on.ca
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
