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Wednesday, December 5, 2012

Grants Available For Small Businesses in Canada Who Hire Recent Graduates

FedNor
The Northern Ontario Development Program (NOPD) is responsible for increasing economic development in communities throughout northern Ontario. The regional organization that provides the funding for small businesses in northern Ontario is called FedNor. FedNor offers a program, the Youth Internship Program, which gives grants to small businesses in northern Ontario who hire recent graduates.

Both non-profit organizations and small- to medium-size businesses are eligible for the grants. Non-profit organizations can receive up to $27,500 (or 90% of salary and employee benefits) for hiring a recent college graduate full-time for 12 months. Small- and medium-size businesses, who have less than 500 employees and who hire recent graduates for up to 12 months, can receive up to $27,500 (or 50% of salary, travel, training and employee benefits).

The businesses must be located in northern Ontario. The 12 months is considered an internship, and businesses must agree to provide job opportunities for the graduates after the internship is completed. Graduates hired must be under 30 years of age and have received their degree within the last three years.

The Youth Internship Program is a win-win situation for both small businesses and for the youth who are hired. Businesses benefit with grant money to increase their workforce and the new graduates get an opportunity to gain valuable experience in their field.

FedNor focuses on programs that strengthen the economic competitiveness of communities in northern Ontario, increase the growth of business and stimulate innovation within businesses in northern Ontario.

For more information, visit http://fednor.gc.ca/eic/site/fednor-fednor.nsf/eng/h_fn02348.html
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