The federal government is investing more than $1 million to provide youths with career opportunities.
Peter Adams (Peterborough), on behalf of Jane Stewart, Minister of Human Resources Development Canada, recently announced funding of $1,120,000, through Youth Internship Canada, to provide 60 youth participants with an opportunity to develop life and employability skills through small business ventures.
Through this project, the Community Opportunity and Innovation Network Inc. will provide support and direction to the participants to help them develop e-business and e-commerce related businesses that will enable them to become partners in business ventures under Peterborough's Flexible Venture Development Network.
The participants will take part in skills enhancement and venture planning activities before starting up and developing their businesses. This project will also result in the creation of 15 to 21 new team enterprises that will support community economic development in the Peterborough area.
Participants will be encouraged to work in groups of two to four people to develop their ventures, as well as being given the opportunity to work independently.
"This project will provide these youth with an excellent opportunity to develop longstanding and sustainable business ventures in Peterborough's small business community," Adams said. "Already, it is expected that 90 per cent of the youth participants will have a successfully established business by the completion of the project."
HRDC will provide $1,120,000 through the Youth Internship Canada program. Youth Internship Canada provides young people with skills enhancement and work experience to help them integrate successfully into the labour market.
Surveys of young participants show that 83% of Youth Internship Canada participants remain employed or return to school for further education in the six- to 12-month period following their placement.
This project supports the Government of Canada's Youth Employment Strategy to help youth make the transition from school to work and get their first job, in partnership with businesses, non-governmental organizations, communities and other levels of government.
The strategy offers a three- pronged approach to addressing youth unemployment issues: it provides work experience opportunities for unemployed or underemployed youth and students; provides access to relevant information on Canada's labour market; and facilitates access to learning.
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