Better Scholarships for Young Entrepreneurs

Nova Scotia Economic Development has improved the scholarships awarded in the Youth Entrepreneurial Skills (YES) program.

All participants in the program are eligible to receive a $300 scholarship and four regional winners are awarded another $1,000 each. Then one of those regional winners will be recognized as the YES Entrepreneur of the Year and receive an additional scholarship of $2,500.

"Expanding the scholarship component to the YES program recognizes the reality that education, like many things, is costing more," Economic Development Minister Gordon Balser said today. "We're also acknowledging these young entrepreneurs who have the spirit and drive to shape their own futures. Their contributions to Nova Scotia's economy are vital."

The YES program encourages Nova Scotia students to operate their own businesses while giving students the opportunity to consider a possible career as an entrepreneur. It is open to full-time students attending high school, college or university. Participants learn to prepare a business plan and what it takes to be a successful entrepreneur. Small interest-free loans are also available to cover startup costs.

Since it began in 1984, the YES program has opened a window of opportunity for more than 1,400 students. A follow-up survey has indicated one-third of participants subsequently started their own full-time businesses.

"We believe we must fully develop entrepreneurship as a career option for our young people," said Mr. Balser. "Awarding scholarships to these young business people is a way of recognizing their hard work and success in running their own business."

The scholarship announcement comes as Halifax plays host to one of the largest entrepreneurship information and networking events in North America. The Spirit of Entrepreneurship 2000 conference taking place this week has drawn 700 delegates to participate in workshops, forums and round-table discussions.

For YES program information, application forms and for business startup advice, contact a Nova Scotia Business Service Centre at 1-800-565-2009. Information is also available on the Internet at www.gov.ns.ca/ecor/ced/yes .