Saying YES to Opportunity

A young entrepreneur from Sydney is one of seven students to receive an award of merit today under the Youth Entrepreneurial Skills program (YES), an initiative of Economic Development and Tourism.

Manning MacDonald, Minister of Economic Development and Tourism, presented the awards at a luncheon at Halifax's World Trade and Convention Centre honouring some of the province's youngest business owners.

Jason Walter, 24, operated Jay's Dickie Dee out of his home in Sydney, grossing $30,000 in sales in four months. Having been employed by Dickie Dee for four summers, he was given the chance to buy the operation. And when opportunity knocked, he answered.

After trying other means of financing, Jason applied for a loan under the YES program. "My regional manager knew about the program and knew that it was a good way for students to get financing," he said.

Mr. Walter qualified for an $1,800 YES loan that helped cover startup costs such as office equipment, telephone and supplies.

From May to September, Jason was busy co-ordinating bike rentals to 12 vendors, helping to create work for other students as well as himself. He also trained the vendors and was responsible for all administrative duties. His efforts paid off with a cool 30 per cent increase in ice-cream sales from the year before, leading to his award of merit.

Mr. Walter plans to set up an educational supplies business when he completes his bachelor of education this year at St. Francis Xavier University. He said the experience he gained last summer will be an asset.

"It was an interesting experience," he said. "It taught me the basic skills and strategies needed to establish and run a small business."

The YES program provides loans to full-time students between the ages of 16 and 29 to set up and operate their own business. The program helps participants prepare a business plan and provides business counselling and training. Students must apply to Economic Development and Tourism and may receive a loan of up to $5,000.

YES award winners are selected on the basis of region, loan repayment, consultant reviews, regional development officer reviews, and demonstration of entrepreneurial qualities.