About Summer Company
The Summer Company program, funded by the Ontario government, has been helping students, aged 15 to 29, start and run their own businesses since 2001. As a Summer Company entrepreneur, participants receive hands-on business mentoring from local business leaders and up to $3,000 to make their dream job a reality.
If you’ve got a winning idea for starting a new business and are a student who is not afraid of hard work, you should consider applying to the Summer Company program – a great opportunity for enterprising young people who want to be their own BOSS!
If your application is accepted, you will be eligible to receive an upfront award of up to $1,500 to put toward start-up costs and up to $1,500 upon successful completion of the program. Successful completion requires that you:
- Implement your project substantially in accordance with the business plan;
- Participate in coaching and training;
- Meet with local business mentors as specified;
- Provide documents related to the experience and business operations as required in the guidelines, and
- Meet all program requirements for establishing and operating the business
Eligibility and Participation Requirements for Candidates
You’re eligible to participate if you’re:
- A student between 15 and 29 years old as of April 30, 2019 (a parent or guardian must sign the application for applicants under 18)
- Starting a new business (if you’re unsure, contact your program provider)
- Attending school and returning to school in the fall (this includes full-time, part-time, homeschooling, e-learning, distance learning, apprenticeships, trade schools, etc.)
- A resident of Ontario
- A Canadian citizen or a permanent resident
- Not working at another job or attending school for more than 12 hours per week during the duration of the program
- Following the Canada Revenue Agency definition of being self-employed
- Able to work over the summer program period:
- A minimum of 280 hours if you’re a high school student
- A minimum of 420 hours if you’re a post-secondary student
We may approve exceptions.
You must meet all of the above requirements.
You’re not eligible if you’ve received funding from Summer Company in the past.
Requirements to participate
Once approved, you’ll be required to:
- Sign a Letter of Agreement with the program provider describing each party’s rights and responsibilities (a parent or guardian Must sign the agreement for applicants under 18)
- Sign a Release and Consent form (a parent or guardian must sign the form for participants under 18)
- Show your business name registration and any required licensing documents to your program provider for verification
- Open and operate a bank account for the business
- Spend your first payment within the first 30 days
- Operate your business over the summer program period, according to your business plan and cash flow, for:
- a minimum of 280 hours if you are a high school student
- a minimum of 420 hours if you are a post-secondary student
- Meet with your local program provider and mentors for a minimum of four meetings to review and track your progress
- Agree to one site visit by the program provider
- Maintain appropriate business records of income and expenditures including receipts
- Participate in business training with your program provider
Requirements to complete the program
To receive the second payment (up to $1,500), you need to:
- Meet your requirements to participate (listed above)
- Participate in an exit interview at the end of the summer
- Provide the following to your program provider for review, in a professional and business-like format:
- a cash flow record of your business operations
- copies of all business receipts and invoices organized to show that you used the first payment for start-up costs
- Submit a signed confirmation that you’re returning to school
- Complete the anonymous online participant survey
If you don’t successfully complete the program, you will not receive the second payment and you may be asked to reimburse the first payment.
If you met all the requirements to complete the program, but did not spend the full first payment within 30 days, the difference will be deducted from your second payment.
The award is taxable under the Canada and Ontario Income Tax Acts. A T4A slip will be issued to the recipient of the award.