Youth ages eight to 16 all across P.E.I. will be given this very opportunity; to experience owning and operating their own company, while gaining business and life skills through the Young Millionaires Program.
The program, which is designed to run throughout the summer months, is being offered to Island youth for its 22nd year.
Participants in the program are encouraged to develop new and innovative business ideas that will they will grow into actual operating businesses during the summer.
Last year the program helped start more than 125 new enterprises across the Island.
“Each year unique ideas are formed by the participants - ideas that include reselling merchandise, manufacturing companies and service related businesses,” said Karen Duffy, YMP provincial co-ordinator for P.E.I.
Some of these businesses in the past included pet care, lawn maintenance, selling Island photography and manufacturing dog biscuits.
“Many of the youth that participate in our program are very passionate about the businesses they choose, it is really interesting to see the varying interests and ideas that help determine what type of business they will operate.
“As many of us know, success in entrepreneurship often follows when you love the work you are doing,” said Duffy.
The federal government has invested $39,079 into the program.
One of the conditions of the program is that these aspiring young entrepreneurs attend four workshops that are designed to teach them the fundamentals of operating their own business. The workshops provide instruction on record keeping, marketing, time management, customer service and public speaking
There is no cost to participate in the program and businesses are eligible for a non-repayable grant of up to $100 for sole proprietorships and $150 for partnerships.
Representatives will be dropping off posters and application forms to schools over the Island during the next couple of weeks to promote the program.
School presentations have been given in the French Language schools; however, there will not be Young Millionaires presentations in the schools that fall under the English Language board because of missed instructional time during the 2013-2014 school year.
Young people are expected to apply before the upcoming deadline of June 6, as space is limited.
A registration link can be found at the program website www.ymppei.com. Parents and students seeking further information about the program may contact Duffy at the provincial office at 902-887-3400 or refer to the Young Millionaire Program website.