April 19, 2010

Summer Job Spotlight ... Be your own boss with a Summer Company

Do you dream of being your own boss?

Do you entrepreneurial drive and a keen business sense?

Are you between the ages of 15 and 29?

If you answered, "yes" to all three questions then consider starting up your own business under the Government of Ontario's 2010 Summer Company program.

As part of the program, Summer Company entrepreneurs will receive business coaching and mentoring from local community business leaders who will help make your Summer Company a huge success.

If you're accepted into the program, not only will you be able to keep the profits you make, but you will be eligible to receive up to $1,500 to put toward start-up costs and up to $1,500 upon successful completion of the program.

And you can start almost any type of business, as long as it meetings the following conditions:
- Is a sole proprietorship or a corporation where the applicant will be the majority shareholder
- Is an independent business venture
- Fits the Canada Revenue Agency definition of being self-employed, as defined by
FORM RC 4110
- Operates at arm’s length from family business ventures
- Operates in Ontario
- Operates full-time as defined in the business plan
- Maintains its own books and records
- Maintains a separate business bank account
- Follows government rules and regulations for operating a business
- Is a new business, not previously registered or operated on an on-going basis

There are some instances of companies not allowed under the Summer Company program and they include:
- Partnerships
- Franchises
- Distributorships
- Incorporated businesses that are controlled directly or indirectly by a person who would not be eligible for a Summer Company Award
Before applying, it's worth checking out the 2010 Summer Company program guidelines and reviewing how to create your business plan.

To see if you're eligible to apply for the Government of Ontario's 2010 Summer Company program, complete a quick online eligibility checklist. If you are determined to be eligible, the system will open up the 2010 Summer Company application form.

If you've got any questions, feel free to call the Summer Company hot line at 1 877 553 5507

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