Description
In this such a detailed illustration point to champion youth entrepreneurship across canada.
2010
Annual Report
cybf.ca
MISSION
To champion youth entrepreneurship across
Canada by providing pre- and post-launch
coaching, business resources, start-up financing
and mentoring to empower young Canadians,
age 18-34, to start and grow a business that
contributes to sustainable economic development
in their communities.
VISION
Driving Canada’s business success
by helping youth help themselves.
cybf.ca
On the cover:
CYBF Entrepreneur: Tal Dehtiar, owner of Oliberté Footwear
CYBF Mentor: Lawrence Zimmering
CYBF Community Partner: CYBF
Inception: 2009
Jobs Supported: 257 in Canada and Africa
Location: Oakville, Ontario
Website: www.oliberte.com
Oliberté, one of CYBF’s most successful socially-minded start-ups, manufactures
premium casual footwear made exclusively in Africa, providing stable jobs and
regular income to a region so desperately in need.
To read more about Tal’s entrepreneurial journey, visithttp://www.cybf.ca/story-gallery/success-stories/ontario/Oliberte.pdf
CYBF is the ‘go to’ place for youth entrepreneurship. As
a national charity we invest in aspiring young entrepreneurs,
age 18-34, to enable them to start and build successful
businesses. These businesses represent a significant
economic injection into our communities – creating new
jobs and seizing opportunities that will contribute to the overall
vitality of our country.
Now celebrating 14 years, CYBF has invested in more than
4,000 young people whose companies have generated
more than 17,500 new jobs, CAD $114 million in tax
revenues and hundreds of millions of dollars in sales and
export revenues.
Celebrating and Cultivating
Young Entrepreneurs
Message from the Chairman & CEO Page 2
CYBF Program & Delivery Model Page 3
CYBF Impact and Highlights Page 4
Program: Pre- & Post-Launch Coaching Page 6
Program: Start-Up & Expansion Financing Page 8
Program: World-Class Business Mentoring Page 10
Program: Business Resources Page 12
Program: Championing Youth Entrepreneurship Page 14
Fundraising Highlights Page 16
Financial Summary and Statements Page 18
CYBF Board of Directors, Business Advisors & Executive Team Page 23
CYBF Offices Page 24
Contents
Fiscal 2010: October 1, 2009 to September 30, 2010
The CanadianYouth Business Foundation 2010 Annual Report
1
This fiscal 2010 Annual Report was made possible in part by the generous support from
Watermark Design, (416) 530-1558, www.watermarkdesign.ca
For CYBF, 2010 was a year that will be remembered as a giant leap forward
and a truly historical one at that. From strong growth to enhanced success
ratios, from leading a new culture of entrepreneurship in Canada to international
recognition, CYBF proved itself as a leader at all levels of youth entrepreneurship
both at home and abroad.
We are most proud of the 17.7 per cent growth in our core start-up program. In
fact, we now launch a new entrepreneurial business every 15 hours around the
clock! In 2010, our portfolio success rate increased by .42 basis points to over
94 per cent, well above our international peer group in the Prince’s Youth Business
International network. With 17,500 new jobs created and nearly $115 million in
taxes and revenues pouring in from the businesses we have helped to start,
CYBF has grown to become a critical contributor to Canada’s economic future
from coast to coast to coast.
2010 was also the year in which CYBF hosted the world’s inaugural G20 Young
Entrepreneur Summit (G20 YES) in Toronto, from which the G20 Young
Entrepreneurs’ Alliance (G20 YEA) was born. As a founding member of the G20
YEA, we are incredibly proud of the rapid momentum and impact this initiative has
taken on in less than a year! The G20 YEA met in Seoul, Republic of Korea in
November 2010 to complete our charter and we are preparing for the second
G20 Young Entrepreneur Summit to be held November 2011 in Cannes, France
where CYBF will represent Canada alongside 20 of our country’s top young
entrepreneurs.
CYBF is equally proud to be the Canadian lead and host of Global
Entrepreneurship Week (GEW) through 2012. We are enormously proud that our
efforts were recognized in March 2010 when CYBF accepted the “Country of the
Year” award on behalf of Canada for our strong campaign. Last November, we
engaged more than 350 partners to hold more than 700 events right across
Canada with the common goal of encouraging and building a stronger culture of
entrepreneurship.
Perhaps the most exciting part is what the future holds for CYBF. In the next five
years, our expansion plans will create nearly 6,800 new businesses and nearly
34,000 new jobs. Our focus on a new innovation program will ensure Canada’s
most innovative young entrepreneurs can make us proud, and a national peer
networking program will bring together young entrepreneurs and their mentors
to build a groundswell of ideas, energy and support. We are poised to grow
more entrepreneurs, to connect them, and to provide the leadership through
partnerships to showcase – to Canadians and to the world – the magic that
can happen when you believe in someone with a brilliant idea and the fire of
entrepreneurial spirit in their belly.
Vivian Prokop
Chief Executive Officer,
CYBF
John Risley
Chairman,
Clearwater Fine Foods
& Chairman, CYBF
The CanadianYouth Business Foundation 2010 Annual Report
2
Message fromthe
Chairman & CEO
The CanadianYouth Business Foundation 2010 Annual Report
3
CYBF knows that encouraging the innovation, creativity and fearless determination
of Canada’s young people is essential to driving the long-term economic growth,
prosperity and competitiveness of our country.
We do this by offering young Canadians, ages 18-34, four fully-integrated programs
to ensure the healthy start and sustainability of their new business ventures:
• Pre- and Post-Launch Coaching
• Online Business Resources
• Start-Up and Expansion Financing
• World-Class Business Mentoring
With a 94 per cent repayment success rate, we know our business model works.
We invest our time and money in aspiring young entrepreneurs who have a great
business idea – but need help to make it happen.
Our core programs provide young people with the tools they need to get started
and become the next generation of business leaders and economic contributors.
Through our valued relationships with 161 community partners, CYBF is able to
champion economic development fromcoast to coast to coast. Community partners
are the local storefront for CYBF reaching more than 1,200 urban and rural
communities. By working with volunteer loan review committee members, our
community partners help aspiring young entrepreneurs develop robust business
plans while guiding themthrough the CYBF process, ensuring their future success.
Pre-Launch & Post-Launch
Coaching
Online Business Resources
Start-Up & Expansion
Financing
World-Class Business
Mentoring
Program&Delivery
Model
Fiscal 2010 Highlights
Start-Ups: 579 new businesses launched, representing a 17.7 per
cent increase over fiscal 2009
Volunteers: 574 volunteers joined CYBF, a 14 per cent increase
over fiscal 2009
Repayment rate: 94 per cent business start-up repayment rate,
despite a challenging world economy
ChampioningYouth Entrepreneurship:
• Strategic Government Roundtables: Hosted Hon. Rob Moore,
Minister of State (Small Business & Tourism) at two CYBF
roundtables on the future of youth entrepreneurship in Canada.
• G20 Young Entrepreneurs’ Summit: Created and hosted the
inaugural Summit resulting in the development of a communiqué
identifying five key policy issues to unlock the potential of
young entrepreneurs in the G20 countries. This communiqué
was presented at the G20 Business Summit in Toronto.
• G20 Young Entrepreneur Alliance: Founded a newinternational
team and movement for collaboration among leading
organizations supporting entrepreneurship.
• Global Entrepreneurship Week (GEW):
• Signed a three-year MOU to host Global Entrepreneurship
Week Canada through 2012.
• Recognized as Global Entrepreneurship Week Country of
the Year 2009, competing against more than 80 countries,
including the United Kingdom, Russia and the United States.
• Hosted GEW Canada 2010. Engaged more than 350 partners,
executed more than 700 initiatives that engaged more than
100,000 Canadians. Ran a robust advertising, media and
online campaign that reached millions of Canadians with
more than 130 million message impressions.
The year 2010 marked a monumental year for CYBF. Not only did
we exceed every business objective, we also hosted the inaugural
G20 Young Entrepreneur Summit.
Our successes this year were made possible thanks to our hard-
working community partners, mentors, loan review committee
members and the unwavering support of our board, staff and
supporters.
Impact &
Highlights
The CanadianYouth Business Foundation 2010 Annual Report
4
The CanadianYouth Business Foundation 2010 Annual Report
5
Fiscal 2010 Highlights
Programs:
• Newcomer Entrepreneur Program: Launched specialized
national program for newcomers to Canada.
• Innovation Program: Pilot successfully completed with
national launch planned for fiscal 2011.
• Entrepeer Program: Launched phase one of this new program
dedicated to building a community for CYBF key stakeholder
groups, allowing them to share best practices, do business
and provide specialized value-based affinity programs. CYBF
launched its communication initiative, Entrepeer Weekly, and
its first affinity partner, the Canadian Federation of Independent
Business.
• Mentoring:
• Executed a comprehensive survey among mentors to
create future best practices and programs.
• Enhanced online tools to meet educational needs of mentors.
• Launched mentor recruitment campaign to drive successful
pipeline.
• Entrepreneur-In-Residence (EIR): Expanded EIR educational
seminars that directly assisted in meeting start-up objectives.
• Fundraising: Contribution revenue raised $12.8 million in fiscal
2010, a 79 per cent increase over fiscal 2009.
• Marketing: Supported business objectives with new and
aggressive grassroots marketing and social media initiatives
including outreach via Facebook, Twitter, YouTube and
educational webinars.
Entrepreneurs build businesses.
Businesses build communities.
Who builds entrepreneurs? We do.
“
”
Fiscal 2011 Goals:
• Increase the number of young
entrepreneurs successfully
helped through the Pre- and
Post-Launch Coaching process
by 20 per cent
• Expand the EIR educational
seminar series Canada-wide
• Hire second EIR to work with
entrepreneurs in Western Canada
Entrepreneur-in-Residence
Entrepreneurs are the building blocks of Canadian communities.
But just as they provide the foundation for their local economies,
they need support and assistance to launch and grow their
businesses.
CYBF offers young people a hands-on, business advisor known
as an Entrepreneur-in-Residence who can offer the coaching
they need to develop a successful business throughout the
entrepreneurial lifecycle.
The EIR provides young entrepreneurs with assistance on:
• Creating a solid business plan
• Developing financial strategies
• Obtaining a business license
• Developing a good credit rating
• Sharing best business practices
• Facing and dealing with economic challenges
• Expansion and human resource challenges
The CanadianYouth Business Foundation 2010 Annual Report
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Pre-Launch &Post-Launch
Coaching
CYBF made this opportunity work.
Without their support, resources
and investment, we would not be
where we are today.
“
”
Alia El Banna
Owner, KIWI Choice
Combining green technology with business was a perfect career
choice for Alia El Banna. Alia launched KIWI Choice Inc., a
manufacturer of solar-powered portable device chargers, in 2010,
fast becoming a success in the world of eco-electronics. With
guidance from her CYBF mentor John Callahan, Alia is in the
process of developing two new KIWI Choice products and
expanding sales to European and Australian markets.
To read more about Alia’s entrepreneurial journey, visithttp://www.cybf.ca/story-gallery/success-stories/ontario/
KIWIChoice.pdf.
CYBF Entrepreneur: Alia El Banna
CYBF Mentor: John Callahan
CYBF Community Partner:
Ottawa Community Loan Fund
Inception: 2010
Jobs Created: 6
Location: Ottawa, Ontario
Website: www.kiwichoice.com
KI WI Choice
The CanadianYouth Business Foundation 2010 Annual Report
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Fiscal 2011 Goals:
• Invest in 640 new start-up
businesses: a 10 per cent increase
over fiscal 2010
• Invest in 40 newcomer businesses
• Launch Innovation Program
Start and Grow with up to $45,000
*
CYBF is proud to partner with the Business Development Bank of
Canada (BDC) to offer qualified entrepreneurs with up to $45,000
in financing – based on character and a great business idea, not
collateral. This unique partnership provides young entrepreneurs
with access to start-up and growth capital through CYBF’s
application process.
Starting up: Get up to $45,000* in start-up
financing!
CYBF provides eligible young entrepreneurs with start-up financing
of up to $15,000, with flexible three to five year repayment terms.
Through the BDC partnership, CYBF approved applicants have
access to two BDC dollars for every one CYBF dollar. That’s a total
of up to $45,000 in seed capital with one application!
Growing the Business: Expansion financing
up to $30,000*
CYBF and the BDC recognize that once entrepreneurs have
launched their business, supplementary financing may be required
to grow or expand their business. That is why we offer qualified
entrepreneurs, who have been in operation between 36 to 60
months, with expansion financing of up to $30,000 with one
application.
CYBF’s Favourable Interest Rates
1
st
year: prime lending rate +2 per cent
2
nd
year: prime lending rate +1 per cent
3
rd
- 5
th
years: prime lending rate
*please refer to www.cybf.ca for a complete listing of eligibility criteria and complete details
related to all financing options
Start-Up &Expansion
Financing
CYBF’s contributions and assistance were a critically important
part of moving from concept to realization. Between the role of our
mentor, the support framework and financial assistance, Invenia
would not be the company it is today without the help of CYBF.
“
”
MatthewHudson
Owner, Invenia Technical Computing Corporation
Eligibility Requirements:*
• Age 18-34
• Eligible to work in Canada
(work permit holders not eligible)
• Have a viable business plan
• Business is new or under a year old
• Must agree to work with a business
mentor for a minimum of two years
• Business creates full-time sustainable
employment for the applicant
• Not a full-time student
• Loan proceeds may not be used for
the refinancing of existing debt
As the young entrepreneur behind Invenia Technical Computing
Corp., Matthew Hudson is – literally – changing the world for the
better. Through the development of Energy Intelligence Systems
(EIS), Invenia optimizes wind power to reduce CO2 emissions. In
fact, Invenia has already prevented over 36kt of CO2 emissions,
and has the potential to reduce CO2 emissions by 35Mt per year.
In less than four years, Invenia has grown into an internationally
recognized company with global environmental benefits.
To read more about Matthew’s entrepreneurial journey, visithttp://www.cybf.ca/story-gallery/success-stories/manitoba/
Invenia.pdf.
CYBF Entrepreneur: Matthew Hudson
CYBF Mentor: Jeff Ryzner
CYBF Community Partner:
Meyers Norris Penny LLP
Inception: 2006
Jobs Created: 16
Location: Winnipeg, Manitoba
Website: www.invenia.ca
I nvenia Technical Computing Corporation
The CanadianYouth Business Foundation 2010 Annual Report
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Fiscal 2011 Goals:
• Increase mentor pipeline to support
the 640 start-ups for fiscal 2011
• Launch ongoing and regular
networking events for mentors
and entrepreneurs
• Enhance online tools, resources
and information for mentors
• Launch Mentor-In-Residence (MIR)
pilot program
Why do the businesses started by CYBF have a successful
repayment rate of more than 94 per cent?
Because we believe that CYBF’s mentoring program truly works.
Our roster of highly qualified and dedicated business mentors
bring years of experience and first-hand knowledge to the young
entrepreneur. CYBF mentors encourage, share their knowledge and
help to guide young entrepreneurs through every obstacle.
CYBF hand-matches every entrepreneur with a business mentor
for a minimum of two years, to ensure they have support during
the critical start-up phase. CYBF’s MENT2B™ online orientation
program creates a framework for and a relationship contract
between the mentor and their mentee.
Globally recognized as an industry-leading initiative, CYBF’s
mentoring program is a template for success for many of the 40
countries within The Prince’s Youth Business International network.
I was so happy and relieved to find CYBF. The
fact that I was hand-matched with a mentor to
help support and guide me, is far more valuable
than any traditional loan I could have received.
“
”
Mylene Chaumont
President, Sentinelle Santé
World-Class Business
Mentoring
Mylene credits her mentor, Raymond Brunet, with helping her
prioritize her many lives as an entrepreneur, a mother and a
successful president of Sentinelle Health Group, a private health
clinic located in Gatineau, Québec. “He constantly reminds me
that the challenges will make me stronger, that it’s a learning
opportunity that will only result in successes down the road.”
To read more about Mylene’s entrepreneurial journey, visithttp://www.cybf.ca/story-gallery/success-stories/quebec/
SentinelleHealthGroup.pdf.
CYBF Entrepreneur: Mylène Chaumont
CYBF Mentor: Raymond Brunet
CYBF Community Partner: CLD Gatineau
Inception: 2008
Jobs Created: 3
Location: Gatineau, Québec
Website: www.sentinellehealthgroup.ca
Mylène Chaumont
The CanadianYouth Business Foundation 2010 Annual Report
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Fiscal 2011 Goals:
• Continue to provide robust
educational tools for all stakeholders
• Develop new web platform to offer
an easily searchable and better
organized resource library
• To explore new partnerships that will
bring new resources and value to our
entrepreneurs, mentors and community
partners
The right tools at the right time: one thing every young entrepreneur
needs in their toolbox.
As the ‘go to’ place for youth entrepreneurship, CYBF offers a
centralized online Business Resource Centre that provides a wide
variety of tools, tips, stories and data to meet the needs of
entrepreneurs, mentors and community partners.
Our resource library is always expanding and updated to include:
• Inspiring case studies to get entrepreneurs on the path to
success
• An interactive business planner to take the guesswork out of
planning
• Financial tips on taxation, cash flow and more
• Marketing tips and other how to’s
• Educational tools, forms and applications
CYBF’s resources were available
to us when others were not.
They opened doors – something we
desperately needed during the
growth stages of our business.
“
”
Ken LeBlanc
President & CEO, PropertyGuys.com
Business
Resources
Ken LeBlanc, Jeremy Demont, Dale Betts, Walter Melanson
of PropertyGuys.com Inc. are true entrepreneurial inspirations.
The foursome launched their innovative online real estate
business in 1998 with a collective $100 in their pockets. Today,
PropertyGuys.com is Canada’s largest private real estate network,
with more than 120 franchises serving over 600 communities
across Canada.
To read more about Ken, Jeremy, Dale and Walter’s entrepreneurial
journey, visithttp://www.cybf.ca/story-gallery/success-stories/
newbrunswick/PropertyGuys_founders.pdf
CYBF Entrepreneurs: Ken LeBlanc, Jeremy
Demont, Dale Betts, Walter Melanson
CYBF Mentor: Dannie Brown
CYBF Community Partner: Enterprise Greater
Moncton, serving the Greater Moncton area
Inception: 1998
Jobs Created: 345
Location: Moncton, New Brunswick
Website: www.propertyguys.com
PropertyGuys.com
The CanadianYouth Business Foundation 2010 Annual Report
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In today’s knowledge-based economy, many young people recognize
that they cannot rely on a position in traditional industries. Jobs
are scarce, experience levels are high. Young people can no longer
expect prosperity or security. They need to create it themselves.
Furthermore, with up to 71 per cent of small business owners set
to retire in the next five to 10 years, the future of this country will
depend on an increasing number of young people who are willing
to start their own business.
We need to transform the Canadian economy from one that relies
largely on our resources and the initiative of others to one that
is based on the ideas and initiative of each Canadian. We need to
support our aspiring young entrepreneurs in order to cultivate the
next generation of business leaders.
This is why CYBFhas made“ Championing Youth Entrepreneurship”
a deliverable for every part of our core program. We knowthat by
celebrating and encouraging entrepreneurship through grassroots,
regional, national and international initiatives, we will be part of the
cultural shift that will transform Canada in the coming decades. We
will work to find ways to encourage the dreams of entrepreneurs,
support their ideas, to fund their businesses and to help make
those businesses sustainable.
We believe that young entrepreneurs represent Canada’s best
future hope for generating the ideas that will drive economic
development, innovation and prosperity.
Together we can provide the support young people need
to fire their imaginations, transform their ideas into
businesses, and build a better tomorrow for us all.
“
”
ChampioningYouth
Entrepreneurship
Fiscal 2011 Goals:
• CYBF will once again host Global
Entrepreneurship Week Canada
efforts for 2011
• CYBF will represent Canada at
the G20 Young Entrepreneur
Summit 2011 in France
• CYBF will continue to represent
Canada through the G20 Young
Entrepreneur Alliance
• CYBF will forge new partnerships
to drive a culture of youth
entrepreneurship across Canada
• CYBF will work with governments to
help develop youth entrepreneurship
strategies that will further drive
economic prosperity
Vivian Prokop
Chief Executive Officer, CYBF
When life hands you lemons, you make lemonade! Sarah is on a
bright path to a bright future thanks to CYBF, who recognizes that
it is time to cultivate the next generation of entrepreneurs who will
shape the future of this country.
To read more about how CYBF is helping to build Canada’s
next generation of entrepreneurs, visithttp://www.cybf.ca/assets/pdf/NP_Full PageGEW2010.pdf
Entrepreneur: Sarah Prashad
CYBF Mentor: Her mom
CYBF Community Partner: Her community
Inception: 2010
Jobs Created: 1
Location: 649 Pineway Drive (on the sidewalk)
Website: www.IAmBuildingMyFuture.com
Sarah’ s Lemonade Stand
The CanadianYouth Business Foundation 2010 Annual Report
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CIBC Small Business (Founding Sponsor)
Government of Québec
RBC Foundation (Founding Sponsor)
Government of Alberta
Government of Ontario
TD Canada Trust
BMO Financial Group
Bombardier Inc.
Clearwater Fine Foods Inc.
The Counselling Foundation of Canada
Groupe AXOR Inc.
Groupe Canam Inc.
The John Dobson Foundation
Scotiabank
Accenture
Business Development Bank of Canada
Government of British Columbia
The Gwyn Morgan & Patricia Trottier Foundation
The Keg Spirit Foundation
McCarthy Tétrault LLP
Research In Motion
Spin Master Ltd.
Watermark Design
$10,000,000 + $5,000,000 - $10,000,000 $
$5,000,000 - $10,000,000 $
$1,000,000 - $5,000,000 $
$250,000 - $1,000,000 $50,000 - $250,000
$50,000 - $250,000
By investing in CYBF you are investing in
Canada’s future
CYBF plays a vital role in advancing the economic vitality of
communities all across Canada. We cannot do what we do without
the partnerships forged and the financial and in-kind investments
fromcorporations, governments, foundations and private individuals.
On behalf of thousands of young entrepreneurs we have supported,
thank you for believing in CYBF’s vision and in helping to realize
the dreams of Canada’s future business leaders.
Fiscal 2010 Highlights:
CYBF is most grateful to the following partners, who joined
us this fiscal year in raising more than $16,000,000 in new
funding to support our programs:
Corporate/Foundations:
• Business Development Bank of Canada
• TD Canada Trust
• The Gwyn Morgan & Patricia Trottier Foundation
• The Keg Spirit Foundation
Governments:
• Government of Alberta
• Government of Canada (Industry Canada)
• Government of Prince Edward Island
• Government of Ontario
• Government of Québec
CYBF’s generous media partners enabled us to reach millions
of Canadians through extensive advertising and promotional
campaigns, by providing us with more than $1,000,000 of
in-kind support:
• National Post
• Clear Channel Outdoor Canada
• Captivate Network
• Outdoor Broadcast Network
• Fokus Media
• Canadian Student Magazine
• Hill & Knowlton Canada
CYBF
Fundraising
Supporters
The CanadianYouth Business Foundation 2010 Annual Report
17
The Need
The small business sector is being negatively impacted by two factors:
the retirement of an estimated 71 per cent of small business owners
over the next five to 10 years, and ongoing economic challenges.
Canada needs to cultivate an entrepreneurial spirit and encourage
more young people to become entrepreneurs, and CYBF needs
your investment to help make this happen.
Ways to Partner
Support your youth-focused social responsibility and business
objectives by investing in the CYBF program: start-up financing
program, mentoring program, special national programs such as
Global Entrepreneurship Week, sponsorship of events, and so
much more.
Types of Support:
• Cash investment
• In-kind investment
• Stocks, bonds, mutual funds, GIC investments
• Affinity program investment
• Volunteer investment
Benefits
• Help drive Canada’s entrepreneurial culture and global
competitiveness
• Directly contribute to Canada’s economic recovery and growth
• Invest in launching new start-up businesses that in turn will
invest in you
• Provide skills development and knowledge sharing
opportunities for your employees
• Associate your brand with the leading ‘go to’ place for youth
entrepreneurship
Getting Started
To learn more about how you can get involved please contact:
Vivian Prokop, CEO
Tel: (416) 408-2923 ext. 3001
Email: [email protected]
CYBF
Fundraising
Fiscal 2011 Goals:
• Raise CAD $12.8 million for
program delivery
Impact: 640 new start-ups;
3,200 new jobs (estimated)
• Obtain CAD $1 million in in-kind
support
Impact: increased program
awareness, increase in start-ups
and mentors and reduced
operational costs
• Continue to build affinity program
partnerships
Impact: special discounted offers
for CYBF stakeholders
The CanadianYouth Business Foundation 2010 Annual Report
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The CanadianYouth Business Foundation 2010 Annual Report
19
CA NA DI A N YOUTH B USI NESS FOUNDATI ON
Condensed Financial Results Statement of Financial Position
As at September 30
ASSETS 2010 2009
CURRENT
Cash and cash equivalents $ 9,381,901 $ 4,139,752
Short-term investments 992,086 3,706,362
Loans 4,409,367 3,378,730
Other current assets 263,781 232,971
15,047,135 11,457,815
LOANS 11,027,741 8,927,477
CAPITAL ASSETS, net 51,753 82,017
$ 26,126,629 $ 20,467,309
LIABILITIES
CURRENT
Accounts payable and accrued liabilities $ 688,580 $ 627,586
DEFERRED RENT, CONTRIBUTIONS AND GRANTS 8,008,904 8,213,075
8,697,484 8,840,661
NET ASSETS 17,429,145 11,626,648
$ 26,126,629 $ 20,467,309
CA NA DI A N YOUTH B USI NESS FOUNDATI ON
Condensed Statement of Operations
Year ended September 30
2010 2009
REVENUES
Contributions $ 12,854,106 $ 7,176,384
Loan interest and fees income 871,498 674,630
Investment and other income 59,607 113,579
13,785,211 7,964,593
EXPENSES
Entrepreneurial programs 4,277,547 3,476,144
Mentoring 641,003 866,377
Promotional events 1,194,940 141,775
Administration 1,029,615 946,467
Fundraising 839,609 690,534
7,982,714 6,121,297
EXCESS OF REVENUES OVER EXPENSES $ 5,802,497 $ 1,843,296
CA NA DI A N YOUTH B USI NESS FOUNDATI ON
Condensed Statement of Cash Flows
Year ended September 30
2010 2009
NET INFLOW (OUTFLOW) OF CASH RELATED TO THE
FOLLOWING ACTIVITIES
OPERATINGACTIVITIES
Cash received from contributors $ 12,586,814 $ 10,603,267
Cash received from principal payments 3,564,886 2,559,645
Loan advances (8,213,150) (6,670,600)
Other operating activities (5,349,794) (3,840,640)
2,588,756 2,651,672
FINANCINGAND INVESTING 2,653,393 (335,180)
Net increase in cash and cash equivalents during the year 5,242,149 2,316,492
Cash and cash equivalents, beginning of year 4,139,752 1,823,260
Cash and cash equivalents, end of year $ 9,381,901 $ 4,139,752
A complete set of audited financial statements may be obtained through the National office by calling (416) 408-2923 ext. 2124.
Condensed Financial Statements
The CanadianYouth Business Foundation 2010 Annual Report
20
Management Commentary On Financial Results For 2010
Fiscal 2010 marked the fifth consecutive year of significant growth as we issued a record 579 advances to
young entrepreneurs totaling $8,213,150, an increase of 87 start-ups over last year. Youth entrepreneurship
is leading the way as the Canadian economy grows out of the 2009 recession.
Federal and Provincial government support are key to CYBF’s success to date and to our future. The 2009
Federal Government grant of $10 million provided the key funding for 2010 and the Federal Government
has provided a new $10 million grant to fund our growth in 2011. The $5 million Province of Québec funding
over the next five years was finalized in 2010 and $1.85 million was received during the year. These funds
are critical to continuing the growth of CYBF.
Our five year Strategic Plan has been updated to 2015 as we have exceeded the growth targets for the last
three years. CYBF is now growing into a much larger organization with significantly increased capacity to
support the youth of Canada in their business endeavors. Innovation, green and newcomer funding initiatives
are now in their test phases and will be key parts of our growth in the coming years.
We continue to manage our overall operations in an efficient manner with administration expenses
representing only 6.4 per cent of our total resource utilization. 81 per cent of our resources were used to
fund our start-up, mentoring and education programs.
CYBF is now the leader of entrepreneurship in Canada. We hosted the extremely successful inaugural G20
Young Entrepreneur Summit in June 2010 and followed this with an a very active set of initiatives during
Global Entrepreneurship Week (GEW) in the fall of 2010.
HowOur Financial ResourcesWere Utilized
Loans Advanced
In Fiscal 2010
Entrepreneurial Start-Ups*
Fundraising
Entrepreneurial Programs**
Administration
Outreach Initiatives
50.5%
30.5%
7.4%
5.2%
6.4%
52.2%
33.9%
1.1%
5.4%
7.4%
September 2010 September 2009
Quebec
38.5%
$3,138,000
$2,094,900
Western
25.7%
Ontario
27.5%
$2,243,000
$667,250
Atlantic
8.3%
Financial Reports
* Start-Up financing pool ** Mentoring, Pre-Launch Coaching and Online Business Resources
The CanadianYouth Business Foundation 2010 Annual Report
21
Effectively Managing Our Loan Portfolio
Our loan portfolio, before loan loss provision, has now grown to $18,079,000 with 1,633 young entrepreneurial
companies currently benefiting through our start-up financing. Québec led the way with 221 start-ups totaling
$3,138,000. Ontario followed with 156 start-ups at $2,243,000 and British Columbia showed strong growth
to almost $1,451,000 in new loans. The annual write-offs decreased slightly to 5.86 per cent of our
average loan portfolio during the year as we continue to monitor arrears closely and the quality of applicants
sent to us through our community partner network continues to be strong. This is also evidence of the
critical role played by the mentors who advise each and every one of our young entrepreneurs on the road
to their business success.
Our active community partner network now stands at 161. It is largely through these partnerships and the
loan review committees throughout the cities and towns of Canada that we achieve our growth targets.
They are all to be congratulated for their role in CYBF’s success to date.
Financial Reports
Loan Portfolio Write-offs Write-offs %
$ in Millions
$20
$15
$10
$5
$0
25
20
15
10
5
0
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
%
Loan Portfolio and Annual Write-offs
5.86%
The CanadianYouth Business Foundation 2010 Annual Report
22
CA NA DI A N YOUTH B USI NESS FOUNDATI ON
Investments at Market Value
As at September 30
2010 2009
OPERATING CASH $ 173,841 $ 265,461
CASH EQUIVALENTS
Cash in investment accounts earning 30 day T-bill rate 70,064 146,460
Treasury bills – –
Other commercial paper 9,137,996 3,727,831
SHORT TERM INVESTMENTS
Treasury bills – 1,099,418
Other commercial paper 992,086 2,606,944
$ 10,373,987 $ 7,846,114
Investment Policy
CYBF has an Investment Policy with an active management strategy that has been approved by the CYBF
Board of Directors. The primary objective of CYBF’s investment portfolio is to:
1. Preserve its capital;
2. Provide liquidity to meet disbursement requirements as required over the next three to five years;
3. Maintain appropriate diversification; and,
4. Generate investment returns relative to these guidelines and prevailing market conditions.
The Investment Guidelines of this policy are quite extensive and in all instances CYBF shall adhere to the
Prudent Person Principle whereby it shall invest and manage investments according to investment policies,
standards and procedures that a prudent person would exercise in making investment decisions regarding
property belonging to others.
In general, eligible investments include high quality government and commercial paper that do not exceed
three years in maturity. No asset-backed securities, mortgage-backed securities, equity securities, derivatives,
commodities, and securities not denominated in Canadian dollars are allowed.
The long-term return objective of CYBF's investments will be to meet or exceed the annual inflation rate as
denominated by the published Canadian Consumer Price Index.
CYBF's return objectives will only be pursued in accordance with CYBF's tolerance for risk and ability to
take risk with invested funds. Risk mitigating action with respect to funds invested will be focused on ensuring
that CYBF maintains the real (inflation adjusted) value of its investment portfolio, meets its disbursement
requirements and protects its capital.
CYBF will engage investment advisors/managers who have an industry proven record of adhering to internal
investment guidelines designed to ensure a consistent approach to risk control through well-defined
diversification and quality standards.
Acopy of our full investment portfolio and Investment Policy may be obtained through the National Office by calling (416) 408-2923 ext 2101.
Investments
Financial Reports
The CanadianYouth Business Foundation 2010 Annual Report
23
CYBF’s Fiscal 2010 Board of Directors, Business Advisors &ExecutiveTeam
Anational organization such as CYBF could not succeed without significant leadership and involvement from
a highly engaged and effective Board of Directors and Business Advisors. On behalf of Canada’s young
entrepreneurs, mentors and partners, we would like to thank these individuals who freely give their time;
providing us with strategic advice, operating experience, support for our fundraising efforts, and help to
champion youth entrepreneurship.
Board of Directors
Officers
John Risley, O.C.
CYBF Chairman
Chairman, Clearwater Fine Foods Inc.
David Stewart-Patterson
CYBF Vice-Chairman
Jonathan Simmons
CYBF Treasurer
Partner, PricewaterhouseCoopers LLP
Steve Farlow
CYBF Secretary
Executive Director, Schlegel Centre for Entrepreneurship
Directors
David Aisenstat
President and CEO, The Keg Steakhouse & Bar
Chairman, The Keg Spirit Foundation
Harry Chemko
CEO, Elastic Path Software Inc.
(CYBF 2005 National Best Business Winner)
Ronnen Harary
Co-CEO
Spin Master Ltd.
Michel Kelly-Gagnon
President & CEO
Montreal Economic Institute
Honourable Ralph Klein
Former Premier
Province of Alberta
George Marsland
President
Global Development Corp.
Edmée Métivier
Executive Vice President
Business Development Bank of Canada
Sarah Prevette
Founder & CEO
Sprouter
Mark Segal
Chief Financial Officer
Spin Master Ltd.
Catherine Swift
CYBF Fundraising Committee Chairwoman
Chairwoman, President & CEO
Canadian Federation of Independent Business
Lorna Telfer
Senior Vice President, General Counsel & Secretary
Ivanhoe Cambridge Inc.
Business Advisors
Laurent Beaudoin, C.C., FCA
Chairman of the Board and Chief Executive Officer
Bombardier Inc.
Serge Godin
Founder & Executive Chairman of the Board
CGI Group Inc.
ExecutiveTeam
Chief Executive Officer
Vivian Prokop
Senior Vice President
& Chief Operating Officer
Terry Campbell
Senior Vice President, Marketing,
Communications & Strategic Partnerships
Katrina White
Chief Financial Officer
John Clark, CA
Vice President, Human Resources,
Governance & Administration
Danielle Mandell
Vice President, Programs
Tessa Mintz
Mahsa Taheri (currently on maternity leave)
Directors, Advisors & Team
The CanadianYouth Business Foundation 2010 Annual Report
24
National Office
100 Adelaide Street West, Suite 1410
Toronto, Ontario M5H 1S3
National office - Tel: (416) 408-2923, 1 (866) 646-2922
Regional offices - Tel: 1 (800) 464-2923
Email: [email protected]
@CYBFCanada
Canadian Youth Business Foundation
(CYBF / FCJE)
British Columbia
13545 64 Avenue, Suite 203
Surrey, British Columbia V3W 1Y2
Tel: (604) 598-2923
Email: [email protected]
@CYBFBC
Alberta
100 Mount Royal Circle S.W., Suite 68A
Calgary, Alberta T3E 7P7
Tel: (403) 265-2933
Email: [email protected]
@CYBFWest
Manitoba & North
3025 Portage Avenue, Unit 230
Winnipeg, Manitoba R3K 2E2
Tel: (204) 480-8481
Email: [email protected]
@CYBFMB
Saskatchewan
129 - 21
st
Street East, Suite 301
Saskatoon, Saskatchewan S7K 0B2
Tel: (306) 652-1824
Email: [email protected]
Ontario – Toronto
100 Adelaide Street West, Suite 1410
Toronto, Ontario M5H 1S3
Tel: (416) 408-2923 ext. 2126
Email: [email protected]
@CYBFOntario
Ontario – North
1500 Fisher Street, Suite 210
North Bay, Ontario P1B 2H3
Tel: (705) 840-1909
Email: [email protected]
@CYBFOntario
Ontario – South
285 King Street, Suite 203
London, Ontario N6B 3M6
Tel: (519) 439-2923
Email: [email protected]
@CYBFOntario
Québec
4707 boulevard Des Laurentides, bureau 101
Laval, Québec H7K 3G4
Tel: (514) 225-7035
Email: [email protected]
@FCJE
Atlantic - Nova Scotia
1575 Brunswick Street
Halifax, Nova Scotia B2J 2G1
Tel: (902) 426-6530
Email: [email protected]
CYBF Offices
On the back cover:
CYBF Entrepreneur: Monica Mei, owner of Aime Luxury
CYBF Mentor: Rajan Krishnamachan
CYBF Community Partner: CYBF
Inception: 2008
Jobs Created: 40
Location: Toronto, Ontario
Website: www.aimeluxury.com
Aime Luxury is a socially responsible luxury fashion brand – using all-natural,
eco-friendly and organic materials to design and manufacture effortlessly chic
yet comfortable clothing for women.
To read more about Monica’s entrepreneurial journey, visithttp://www.cybf.ca/story-gallery/success-stories/ontario/Aime.pdf
• CLD Domaine-du-Roy
• CBDC Cumberland
• South Central Community Futures
Development Corporation
• CLD de la MRC de Memphremagog
• CLD de Shawinigan
• CFDC of the SE Region - BC
• Whitehorse Chamber of Commerce
• The Thunder Bay & District
Entrepreneur Centre
• Small Business Resource Centers Inc
• Ottawa Community Loan Fund
• YWCA
• The Business Centre Nipissing
Parry Sound
• Kawartha Lakes Small Business
Enterprise Centre
• Centennial College
• Okanagan Valley Entrepreneurs
Society
• Small Business BC
• CLD Cote-de-Gaspe
• CBDC Chaleur
• CLD de la MRC de Charlevoix
• CBDC Trinity Conception Corporation
• Centre Local de développement
(CLD) Maria-Chapdelaine
• Akaitcho Business Development
Corporation
• SADC de la MRC de Rivière-du-Loup
• Dauphin Economic Development
Centre
• CBDC West Prince Ventures Limited
• Manitoba Education, Citizenship and
Youth, MB4Youth Division
• University of Saskatchewan
• YMCA Business Centre
• Réseau Accès Crédit
• CBDC Northumberland Inc.
• Global Infobrokers Inc
• Sahtu Business Development Centre
• CLD de la Vallée-du-Richelieu
• Carrefour Jeunesse Emploi (CJE) de
D Autray-Joliette
• Superior North Community Futures
Development Corporation
• Corporation de Developpement
Economique des Bois-Francs (CLD)
• Trenval Business Development
Corporation
• Interconnection Research Internation Ltd
• Baffin Business Development
Corporation
• CLD Rivière du Nord
• Self Employment & Entrepreneur
Development Society (SEEDS)
• CLD de la MRC de Maskinongé
• Celtic Business Development
Corporation
• CLD de Robert-Cliche
• Naicam Business Opportunity
Co-operative
• Toronto Business Development
Centre - West Campus
• Greater Victoria Economic
Development Commission
• Centre for Entrepreneurship
Education and Development (Halifax)
• Enterprise Centre Sault Ste Marie
• Société d’aide au développement de
la collectivité de L’Amiante (SADC)
• SADC de Baie-des-Chaleurs
• The University of Winnipeg
• Global Infobrokers Inc
• Centre d'Aide aux Enterprises
Haute-Yamaska et Region
• Dinsmore Small Business Loans
Association Inc.
• CBDC Central PEI
• Cabot Community Business
Development Corporation
• CLD de Longueuil
• Blue Water Business Development
Corporation Limited
• Bruce Community Futures
Development Corporation
• Community Opportunity & Innovation
Network Inc. (COIN)
• CLD De la Ville de Saguenay
• Dogrib Area Community Futures
• CLD de la MRC de L'Assomption
• Kingston Economic Development
Corporation
• CLD Pierre-De Saurel
• Community Futures Heartland
• Women Entrepreneurs of
Saskatchewan Inc. - Saskatoon
• Conseil Economique de Haut-Richelieu
• CBDC Péninsule acadienne Inc.
• Mount Royal College
• Capilano University
• LAMBAC (LaCloche Manitoulin
Business Assistance Corporation's)
• Société de Développement
économique de Drummondville
(CLD Drummond)
• Société de Développement
Économique de Lévis
• YMCA-YWCA of Northeast Avalon
• Toronto Business Development Centre
• Bow Valley College
• Stratford Perth Centre for Business
Development Corporation
• SAJE Montreal Metro
• Community Futures Winnipeg River
• The Business Enterprise Centre of
Sarnia-Lambton
• NAIT
• S.U.C.C.E.S.S
• Hants-Kings Business Development
Centre Limited
• Northwest Business Centre
• Bear Hills Rural Development
Corporation
• SAIT Polytechnic
• Société d'aide au développement
de la collectivité (SADC) Achigan-
Montcalm
• SADC du Suroit-Sud
• CLD de la MRC du Val-Saint-Francois
• WindsorEssex Development
Commission (WEDC)
• Community Futures Triple R
Corporation
• DMH Public Relations &
Communications Inc.
• Discovery Center for Entrepreneurship
• Centre Local de Developpement
Economique des Moulins
• Global Business Centre
• Community Futures Prince Albert
& District
• CLD de Roussillon
• IDÉ Trois-Rivières
• CLD de Sept-Rivières et Minganie
• Hamilton Small Business Enterprise Centre
• CLD du Haut Saint-Francois
• Metro Business Opportunities Corporation
• CLD de Laval
• Corporation of the City of St. Catharines
• CLD de Portneuf
• Prescott-Russell Entrepreneurship Centre
• Canada International College
• Cornwall Business Enterprise Centre
• CLD de Lajemmerais
• Women Entrepreneurs of Saskatchewan
Inc.- Regina
• SOCCA (Société de Crédit Commercial
Autochtone)
• Victoria Madawaska-South Business
Development Centre Inc
• Deh Cho Business Development Centre
• CLD MRC Rouyn-Noranda
• Richmond Chamber of Commerce
• Red River College
• CLD de la Côte-de-Beaupré
• CYBF Calgary
• Centre Local de Développement (CLD)
de La Matapédia
• CBDC Yarmouth
• Waterloo Region Small Business Centre
• CFDC of Chatham-Kent
• Community Futures Development
Corporation of Okanagan-Similkameen
• CBDC Westmorland Albert Inc
• Prince George Chamber of Commerce
• Alberta Women Entrepreneurs
• Centre local de développement L'Islet
• Restigouche CBDC Inc.
• North Claybelt Community Futures
Development Corporation
• Salmon Arm Economic Development
Society
• Nickel Basin Federal Development
Corporation
• Enterprise Renfrew County
• Centre Local de Developpement (CLD)
Gatineau
• Southwest Valley Development
Corporation Inc.
• CLD de la MRC de Lotbiniere
• Community Futures Westman Inc
• Thebacha Business Development
Services
• YES Montreal (Youth Employment
Services)
• Huron Business Development
Corporation
• George Brown College
• Regina Chamber of Commerce
• Enterprise Greater Moncton
• Norfolk District Business Development
Corporation
• Enterprise Saint John
• CYBF
• Centre Local de Développement (CLD)
Les Maskoutains
• FONDS COMMUNAUTAIRE D’ACCÈS
AU MICRO-CRÉDIT
• Timmins Business Enterprise Centre
• South Lake Community Futures
Development Corporation
• Pro-Gestion Estrie
• Prince Edward, Lennox and Addington
(PELA) CFDC
• Community Futures Development
Corporation of 16/37
• CLD Antoine-Labelle
• CBDC Madawaska Inc.
• Goldensouth Business Deveopment
• CLD de Québec
• Community Futures North Central
Development
• London Small Business Centre
• CYBF Western
• Enterprise Temiskaming
• CLD de la Haute-Côte-Nord
Thank you to the 161 community partners who help us deliver our program from coast to coast to coast.
Our partners truly are our community connection.
Community Partners
doc_668334887.pdf
In this such a detailed illustration point to champion youth entrepreneurship across canada.
2010
Annual Report
cybf.ca
MISSION
To champion youth entrepreneurship across
Canada by providing pre- and post-launch
coaching, business resources, start-up financing
and mentoring to empower young Canadians,
age 18-34, to start and grow a business that
contributes to sustainable economic development
in their communities.
VISION
Driving Canada’s business success
by helping youth help themselves.
cybf.ca
On the cover:
CYBF Entrepreneur: Tal Dehtiar, owner of Oliberté Footwear
CYBF Mentor: Lawrence Zimmering
CYBF Community Partner: CYBF
Inception: 2009
Jobs Supported: 257 in Canada and Africa
Location: Oakville, Ontario
Website: www.oliberte.com
Oliberté, one of CYBF’s most successful socially-minded start-ups, manufactures
premium casual footwear made exclusively in Africa, providing stable jobs and
regular income to a region so desperately in need.
To read more about Tal’s entrepreneurial journey, visithttp://www.cybf.ca/story-gallery/success-stories/ontario/Oliberte.pdf
CYBF is the ‘go to’ place for youth entrepreneurship. As
a national charity we invest in aspiring young entrepreneurs,
age 18-34, to enable them to start and build successful
businesses. These businesses represent a significant
economic injection into our communities – creating new
jobs and seizing opportunities that will contribute to the overall
vitality of our country.
Now celebrating 14 years, CYBF has invested in more than
4,000 young people whose companies have generated
more than 17,500 new jobs, CAD $114 million in tax
revenues and hundreds of millions of dollars in sales and
export revenues.
Celebrating and Cultivating
Young Entrepreneurs
Message from the Chairman & CEO Page 2
CYBF Program & Delivery Model Page 3
CYBF Impact and Highlights Page 4
Program: Pre- & Post-Launch Coaching Page 6
Program: Start-Up & Expansion Financing Page 8
Program: World-Class Business Mentoring Page 10
Program: Business Resources Page 12
Program: Championing Youth Entrepreneurship Page 14
Fundraising Highlights Page 16
Financial Summary and Statements Page 18
CYBF Board of Directors, Business Advisors & Executive Team Page 23
CYBF Offices Page 24
Contents
Fiscal 2010: October 1, 2009 to September 30, 2010
The CanadianYouth Business Foundation 2010 Annual Report
1
This fiscal 2010 Annual Report was made possible in part by the generous support from
Watermark Design, (416) 530-1558, www.watermarkdesign.ca
For CYBF, 2010 was a year that will be remembered as a giant leap forward
and a truly historical one at that. From strong growth to enhanced success
ratios, from leading a new culture of entrepreneurship in Canada to international
recognition, CYBF proved itself as a leader at all levels of youth entrepreneurship
both at home and abroad.
We are most proud of the 17.7 per cent growth in our core start-up program. In
fact, we now launch a new entrepreneurial business every 15 hours around the
clock! In 2010, our portfolio success rate increased by .42 basis points to over
94 per cent, well above our international peer group in the Prince’s Youth Business
International network. With 17,500 new jobs created and nearly $115 million in
taxes and revenues pouring in from the businesses we have helped to start,
CYBF has grown to become a critical contributor to Canada’s economic future
from coast to coast to coast.
2010 was also the year in which CYBF hosted the world’s inaugural G20 Young
Entrepreneur Summit (G20 YES) in Toronto, from which the G20 Young
Entrepreneurs’ Alliance (G20 YEA) was born. As a founding member of the G20
YEA, we are incredibly proud of the rapid momentum and impact this initiative has
taken on in less than a year! The G20 YEA met in Seoul, Republic of Korea in
November 2010 to complete our charter and we are preparing for the second
G20 Young Entrepreneur Summit to be held November 2011 in Cannes, France
where CYBF will represent Canada alongside 20 of our country’s top young
entrepreneurs.
CYBF is equally proud to be the Canadian lead and host of Global
Entrepreneurship Week (GEW) through 2012. We are enormously proud that our
efforts were recognized in March 2010 when CYBF accepted the “Country of the
Year” award on behalf of Canada for our strong campaign. Last November, we
engaged more than 350 partners to hold more than 700 events right across
Canada with the common goal of encouraging and building a stronger culture of
entrepreneurship.
Perhaps the most exciting part is what the future holds for CYBF. In the next five
years, our expansion plans will create nearly 6,800 new businesses and nearly
34,000 new jobs. Our focus on a new innovation program will ensure Canada’s
most innovative young entrepreneurs can make us proud, and a national peer
networking program will bring together young entrepreneurs and their mentors
to build a groundswell of ideas, energy and support. We are poised to grow
more entrepreneurs, to connect them, and to provide the leadership through
partnerships to showcase – to Canadians and to the world – the magic that
can happen when you believe in someone with a brilliant idea and the fire of
entrepreneurial spirit in their belly.
Vivian Prokop
Chief Executive Officer,
CYBF
John Risley
Chairman,
Clearwater Fine Foods
& Chairman, CYBF
The CanadianYouth Business Foundation 2010 Annual Report
2
Message fromthe
Chairman & CEO
The CanadianYouth Business Foundation 2010 Annual Report
3
CYBF knows that encouraging the innovation, creativity and fearless determination
of Canada’s young people is essential to driving the long-term economic growth,
prosperity and competitiveness of our country.
We do this by offering young Canadians, ages 18-34, four fully-integrated programs
to ensure the healthy start and sustainability of their new business ventures:
• Pre- and Post-Launch Coaching
• Online Business Resources
• Start-Up and Expansion Financing
• World-Class Business Mentoring
With a 94 per cent repayment success rate, we know our business model works.
We invest our time and money in aspiring young entrepreneurs who have a great
business idea – but need help to make it happen.
Our core programs provide young people with the tools they need to get started
and become the next generation of business leaders and economic contributors.
Through our valued relationships with 161 community partners, CYBF is able to
champion economic development fromcoast to coast to coast. Community partners
are the local storefront for CYBF reaching more than 1,200 urban and rural
communities. By working with volunteer loan review committee members, our
community partners help aspiring young entrepreneurs develop robust business
plans while guiding themthrough the CYBF process, ensuring their future success.
Pre-Launch & Post-Launch
Coaching
Online Business Resources
Start-Up & Expansion
Financing
World-Class Business
Mentoring
Program&Delivery
Model
Fiscal 2010 Highlights
Start-Ups: 579 new businesses launched, representing a 17.7 per
cent increase over fiscal 2009
Volunteers: 574 volunteers joined CYBF, a 14 per cent increase
over fiscal 2009
Repayment rate: 94 per cent business start-up repayment rate,
despite a challenging world economy
ChampioningYouth Entrepreneurship:
• Strategic Government Roundtables: Hosted Hon. Rob Moore,
Minister of State (Small Business & Tourism) at two CYBF
roundtables on the future of youth entrepreneurship in Canada.
• G20 Young Entrepreneurs’ Summit: Created and hosted the
inaugural Summit resulting in the development of a communiqué
identifying five key policy issues to unlock the potential of
young entrepreneurs in the G20 countries. This communiqué
was presented at the G20 Business Summit in Toronto.
• G20 Young Entrepreneur Alliance: Founded a newinternational
team and movement for collaboration among leading
organizations supporting entrepreneurship.
• Global Entrepreneurship Week (GEW):
• Signed a three-year MOU to host Global Entrepreneurship
Week Canada through 2012.
• Recognized as Global Entrepreneurship Week Country of
the Year 2009, competing against more than 80 countries,
including the United Kingdom, Russia and the United States.
• Hosted GEW Canada 2010. Engaged more than 350 partners,
executed more than 700 initiatives that engaged more than
100,000 Canadians. Ran a robust advertising, media and
online campaign that reached millions of Canadians with
more than 130 million message impressions.
The year 2010 marked a monumental year for CYBF. Not only did
we exceed every business objective, we also hosted the inaugural
G20 Young Entrepreneur Summit.
Our successes this year were made possible thanks to our hard-
working community partners, mentors, loan review committee
members and the unwavering support of our board, staff and
supporters.
Impact &
Highlights
The CanadianYouth Business Foundation 2010 Annual Report
4
The CanadianYouth Business Foundation 2010 Annual Report
5
Fiscal 2010 Highlights
Programs:
• Newcomer Entrepreneur Program: Launched specialized
national program for newcomers to Canada.
• Innovation Program: Pilot successfully completed with
national launch planned for fiscal 2011.
• Entrepeer Program: Launched phase one of this new program
dedicated to building a community for CYBF key stakeholder
groups, allowing them to share best practices, do business
and provide specialized value-based affinity programs. CYBF
launched its communication initiative, Entrepeer Weekly, and
its first affinity partner, the Canadian Federation of Independent
Business.
• Mentoring:
• Executed a comprehensive survey among mentors to
create future best practices and programs.
• Enhanced online tools to meet educational needs of mentors.
• Launched mentor recruitment campaign to drive successful
pipeline.
• Entrepreneur-In-Residence (EIR): Expanded EIR educational
seminars that directly assisted in meeting start-up objectives.
• Fundraising: Contribution revenue raised $12.8 million in fiscal
2010, a 79 per cent increase over fiscal 2009.
• Marketing: Supported business objectives with new and
aggressive grassroots marketing and social media initiatives
including outreach via Facebook, Twitter, YouTube and
educational webinars.
Entrepreneurs build businesses.
Businesses build communities.
Who builds entrepreneurs? We do.
“
”
Fiscal 2011 Goals:
• Increase the number of young
entrepreneurs successfully
helped through the Pre- and
Post-Launch Coaching process
by 20 per cent
• Expand the EIR educational
seminar series Canada-wide
• Hire second EIR to work with
entrepreneurs in Western Canada
Entrepreneur-in-Residence
Entrepreneurs are the building blocks of Canadian communities.
But just as they provide the foundation for their local economies,
they need support and assistance to launch and grow their
businesses.
CYBF offers young people a hands-on, business advisor known
as an Entrepreneur-in-Residence who can offer the coaching
they need to develop a successful business throughout the
entrepreneurial lifecycle.
The EIR provides young entrepreneurs with assistance on:
• Creating a solid business plan
• Developing financial strategies
• Obtaining a business license
• Developing a good credit rating
• Sharing best business practices
• Facing and dealing with economic challenges
• Expansion and human resource challenges
The CanadianYouth Business Foundation 2010 Annual Report
6
Pre-Launch &Post-Launch
Coaching
CYBF made this opportunity work.
Without their support, resources
and investment, we would not be
where we are today.
“
”
Alia El Banna
Owner, KIWI Choice
Combining green technology with business was a perfect career
choice for Alia El Banna. Alia launched KIWI Choice Inc., a
manufacturer of solar-powered portable device chargers, in 2010,
fast becoming a success in the world of eco-electronics. With
guidance from her CYBF mentor John Callahan, Alia is in the
process of developing two new KIWI Choice products and
expanding sales to European and Australian markets.
To read more about Alia’s entrepreneurial journey, visithttp://www.cybf.ca/story-gallery/success-stories/ontario/
KIWIChoice.pdf.
CYBF Entrepreneur: Alia El Banna
CYBF Mentor: John Callahan
CYBF Community Partner:
Ottawa Community Loan Fund
Inception: 2010
Jobs Created: 6
Location: Ottawa, Ontario
Website: www.kiwichoice.com
KI WI Choice
The CanadianYouth Business Foundation 2010 Annual Report
8
Fiscal 2011 Goals:
• Invest in 640 new start-up
businesses: a 10 per cent increase
over fiscal 2010
• Invest in 40 newcomer businesses
• Launch Innovation Program
Start and Grow with up to $45,000
*
CYBF is proud to partner with the Business Development Bank of
Canada (BDC) to offer qualified entrepreneurs with up to $45,000
in financing – based on character and a great business idea, not
collateral. This unique partnership provides young entrepreneurs
with access to start-up and growth capital through CYBF’s
application process.
Starting up: Get up to $45,000* in start-up
financing!
CYBF provides eligible young entrepreneurs with start-up financing
of up to $15,000, with flexible three to five year repayment terms.
Through the BDC partnership, CYBF approved applicants have
access to two BDC dollars for every one CYBF dollar. That’s a total
of up to $45,000 in seed capital with one application!
Growing the Business: Expansion financing
up to $30,000*
CYBF and the BDC recognize that once entrepreneurs have
launched their business, supplementary financing may be required
to grow or expand their business. That is why we offer qualified
entrepreneurs, who have been in operation between 36 to 60
months, with expansion financing of up to $30,000 with one
application.
CYBF’s Favourable Interest Rates
1
st
year: prime lending rate +2 per cent
2
nd
year: prime lending rate +1 per cent
3
rd
- 5
th
years: prime lending rate
*please refer to www.cybf.ca for a complete listing of eligibility criteria and complete details
related to all financing options
Start-Up &Expansion
Financing
CYBF’s contributions and assistance were a critically important
part of moving from concept to realization. Between the role of our
mentor, the support framework and financial assistance, Invenia
would not be the company it is today without the help of CYBF.
“
”
MatthewHudson
Owner, Invenia Technical Computing Corporation
Eligibility Requirements:*
• Age 18-34
• Eligible to work in Canada
(work permit holders not eligible)
• Have a viable business plan
• Business is new or under a year old
• Must agree to work with a business
mentor for a minimum of two years
• Business creates full-time sustainable
employment for the applicant
• Not a full-time student
• Loan proceeds may not be used for
the refinancing of existing debt
As the young entrepreneur behind Invenia Technical Computing
Corp., Matthew Hudson is – literally – changing the world for the
better. Through the development of Energy Intelligence Systems
(EIS), Invenia optimizes wind power to reduce CO2 emissions. In
fact, Invenia has already prevented over 36kt of CO2 emissions,
and has the potential to reduce CO2 emissions by 35Mt per year.
In less than four years, Invenia has grown into an internationally
recognized company with global environmental benefits.
To read more about Matthew’s entrepreneurial journey, visithttp://www.cybf.ca/story-gallery/success-stories/manitoba/
Invenia.pdf.
CYBF Entrepreneur: Matthew Hudson
CYBF Mentor: Jeff Ryzner
CYBF Community Partner:
Meyers Norris Penny LLP
Inception: 2006
Jobs Created: 16
Location: Winnipeg, Manitoba
Website: www.invenia.ca
I nvenia Technical Computing Corporation
The CanadianYouth Business Foundation 2010 Annual Report
10
Fiscal 2011 Goals:
• Increase mentor pipeline to support
the 640 start-ups for fiscal 2011
• Launch ongoing and regular
networking events for mentors
and entrepreneurs
• Enhance online tools, resources
and information for mentors
• Launch Mentor-In-Residence (MIR)
pilot program
Why do the businesses started by CYBF have a successful
repayment rate of more than 94 per cent?
Because we believe that CYBF’s mentoring program truly works.
Our roster of highly qualified and dedicated business mentors
bring years of experience and first-hand knowledge to the young
entrepreneur. CYBF mentors encourage, share their knowledge and
help to guide young entrepreneurs through every obstacle.
CYBF hand-matches every entrepreneur with a business mentor
for a minimum of two years, to ensure they have support during
the critical start-up phase. CYBF’s MENT2B™ online orientation
program creates a framework for and a relationship contract
between the mentor and their mentee.
Globally recognized as an industry-leading initiative, CYBF’s
mentoring program is a template for success for many of the 40
countries within The Prince’s Youth Business International network.
I was so happy and relieved to find CYBF. The
fact that I was hand-matched with a mentor to
help support and guide me, is far more valuable
than any traditional loan I could have received.
“
”
Mylene Chaumont
President, Sentinelle Santé
World-Class Business
Mentoring
Mylene credits her mentor, Raymond Brunet, with helping her
prioritize her many lives as an entrepreneur, a mother and a
successful president of Sentinelle Health Group, a private health
clinic located in Gatineau, Québec. “He constantly reminds me
that the challenges will make me stronger, that it’s a learning
opportunity that will only result in successes down the road.”
To read more about Mylene’s entrepreneurial journey, visithttp://www.cybf.ca/story-gallery/success-stories/quebec/
SentinelleHealthGroup.pdf.
CYBF Entrepreneur: Mylène Chaumont
CYBF Mentor: Raymond Brunet
CYBF Community Partner: CLD Gatineau
Inception: 2008
Jobs Created: 3
Location: Gatineau, Québec
Website: www.sentinellehealthgroup.ca
Mylène Chaumont
The CanadianYouth Business Foundation 2010 Annual Report
12
Fiscal 2011 Goals:
• Continue to provide robust
educational tools for all stakeholders
• Develop new web platform to offer
an easily searchable and better
organized resource library
• To explore new partnerships that will
bring new resources and value to our
entrepreneurs, mentors and community
partners
The right tools at the right time: one thing every young entrepreneur
needs in their toolbox.
As the ‘go to’ place for youth entrepreneurship, CYBF offers a
centralized online Business Resource Centre that provides a wide
variety of tools, tips, stories and data to meet the needs of
entrepreneurs, mentors and community partners.
Our resource library is always expanding and updated to include:
• Inspiring case studies to get entrepreneurs on the path to
success
• An interactive business planner to take the guesswork out of
planning
• Financial tips on taxation, cash flow and more
• Marketing tips and other how to’s
• Educational tools, forms and applications
CYBF’s resources were available
to us when others were not.
They opened doors – something we
desperately needed during the
growth stages of our business.
“
”
Ken LeBlanc
President & CEO, PropertyGuys.com
Business
Resources
Ken LeBlanc, Jeremy Demont, Dale Betts, Walter Melanson
of PropertyGuys.com Inc. are true entrepreneurial inspirations.
The foursome launched their innovative online real estate
business in 1998 with a collective $100 in their pockets. Today,
PropertyGuys.com is Canada’s largest private real estate network,
with more than 120 franchises serving over 600 communities
across Canada.
To read more about Ken, Jeremy, Dale and Walter’s entrepreneurial
journey, visithttp://www.cybf.ca/story-gallery/success-stories/
newbrunswick/PropertyGuys_founders.pdf
CYBF Entrepreneurs: Ken LeBlanc, Jeremy
Demont, Dale Betts, Walter Melanson
CYBF Mentor: Dannie Brown
CYBF Community Partner: Enterprise Greater
Moncton, serving the Greater Moncton area
Inception: 1998
Jobs Created: 345
Location: Moncton, New Brunswick
Website: www.propertyguys.com
PropertyGuys.com
The CanadianYouth Business Foundation 2010 Annual Report
14
In today’s knowledge-based economy, many young people recognize
that they cannot rely on a position in traditional industries. Jobs
are scarce, experience levels are high. Young people can no longer
expect prosperity or security. They need to create it themselves.
Furthermore, with up to 71 per cent of small business owners set
to retire in the next five to 10 years, the future of this country will
depend on an increasing number of young people who are willing
to start their own business.
We need to transform the Canadian economy from one that relies
largely on our resources and the initiative of others to one that
is based on the ideas and initiative of each Canadian. We need to
support our aspiring young entrepreneurs in order to cultivate the
next generation of business leaders.
This is why CYBFhas made“ Championing Youth Entrepreneurship”
a deliverable for every part of our core program. We knowthat by
celebrating and encouraging entrepreneurship through grassroots,
regional, national and international initiatives, we will be part of the
cultural shift that will transform Canada in the coming decades. We
will work to find ways to encourage the dreams of entrepreneurs,
support their ideas, to fund their businesses and to help make
those businesses sustainable.
We believe that young entrepreneurs represent Canada’s best
future hope for generating the ideas that will drive economic
development, innovation and prosperity.
Together we can provide the support young people need
to fire their imaginations, transform their ideas into
businesses, and build a better tomorrow for us all.
“
”
ChampioningYouth
Entrepreneurship
Fiscal 2011 Goals:
• CYBF will once again host Global
Entrepreneurship Week Canada
efforts for 2011
• CYBF will represent Canada at
the G20 Young Entrepreneur
Summit 2011 in France
• CYBF will continue to represent
Canada through the G20 Young
Entrepreneur Alliance
• CYBF will forge new partnerships
to drive a culture of youth
entrepreneurship across Canada
• CYBF will work with governments to
help develop youth entrepreneurship
strategies that will further drive
economic prosperity
Vivian Prokop
Chief Executive Officer, CYBF
When life hands you lemons, you make lemonade! Sarah is on a
bright path to a bright future thanks to CYBF, who recognizes that
it is time to cultivate the next generation of entrepreneurs who will
shape the future of this country.
To read more about how CYBF is helping to build Canada’s
next generation of entrepreneurs, visithttp://www.cybf.ca/assets/pdf/NP_Full PageGEW2010.pdf
Entrepreneur: Sarah Prashad
CYBF Mentor: Her mom
CYBF Community Partner: Her community
Inception: 2010
Jobs Created: 1
Location: 649 Pineway Drive (on the sidewalk)
Website: www.IAmBuildingMyFuture.com
Sarah’ s Lemonade Stand
The CanadianYouth Business Foundation 2010 Annual Report
16
CIBC Small Business (Founding Sponsor)
Government of Québec
RBC Foundation (Founding Sponsor)
Government of Alberta
Government of Ontario
TD Canada Trust
BMO Financial Group
Bombardier Inc.
Clearwater Fine Foods Inc.
The Counselling Foundation of Canada
Groupe AXOR Inc.
Groupe Canam Inc.
The John Dobson Foundation
Scotiabank
Accenture
Business Development Bank of Canada
Government of British Columbia
The Gwyn Morgan & Patricia Trottier Foundation
The Keg Spirit Foundation
McCarthy Tétrault LLP
Research In Motion
Spin Master Ltd.
Watermark Design
$10,000,000 + $5,000,000 - $10,000,000 $
$5,000,000 - $10,000,000 $
$1,000,000 - $5,000,000 $
$250,000 - $1,000,000 $50,000 - $250,000
$50,000 - $250,000
By investing in CYBF you are investing in
Canada’s future
CYBF plays a vital role in advancing the economic vitality of
communities all across Canada. We cannot do what we do without
the partnerships forged and the financial and in-kind investments
fromcorporations, governments, foundations and private individuals.
On behalf of thousands of young entrepreneurs we have supported,
thank you for believing in CYBF’s vision and in helping to realize
the dreams of Canada’s future business leaders.
Fiscal 2010 Highlights:
CYBF is most grateful to the following partners, who joined
us this fiscal year in raising more than $16,000,000 in new
funding to support our programs:
Corporate/Foundations:
• Business Development Bank of Canada
• TD Canada Trust
• The Gwyn Morgan & Patricia Trottier Foundation
• The Keg Spirit Foundation
Governments:
• Government of Alberta
• Government of Canada (Industry Canada)
• Government of Prince Edward Island
• Government of Ontario
• Government of Québec
CYBF’s generous media partners enabled us to reach millions
of Canadians through extensive advertising and promotional
campaigns, by providing us with more than $1,000,000 of
in-kind support:
• National Post
• Clear Channel Outdoor Canada
• Captivate Network
• Outdoor Broadcast Network
• Fokus Media
• Canadian Student Magazine
• Hill & Knowlton Canada
CYBF
Fundraising
Supporters
The CanadianYouth Business Foundation 2010 Annual Report
17
The Need
The small business sector is being negatively impacted by two factors:
the retirement of an estimated 71 per cent of small business owners
over the next five to 10 years, and ongoing economic challenges.
Canada needs to cultivate an entrepreneurial spirit and encourage
more young people to become entrepreneurs, and CYBF needs
your investment to help make this happen.
Ways to Partner
Support your youth-focused social responsibility and business
objectives by investing in the CYBF program: start-up financing
program, mentoring program, special national programs such as
Global Entrepreneurship Week, sponsorship of events, and so
much more.
Types of Support:
• Cash investment
• In-kind investment
• Stocks, bonds, mutual funds, GIC investments
• Affinity program investment
• Volunteer investment
Benefits
• Help drive Canada’s entrepreneurial culture and global
competitiveness
• Directly contribute to Canada’s economic recovery and growth
• Invest in launching new start-up businesses that in turn will
invest in you
• Provide skills development and knowledge sharing
opportunities for your employees
• Associate your brand with the leading ‘go to’ place for youth
entrepreneurship
Getting Started
To learn more about how you can get involved please contact:
Vivian Prokop, CEO
Tel: (416) 408-2923 ext. 3001
Email: [email protected]
CYBF
Fundraising
Fiscal 2011 Goals:
• Raise CAD $12.8 million for
program delivery
Impact: 640 new start-ups;
3,200 new jobs (estimated)
• Obtain CAD $1 million in in-kind
support
Impact: increased program
awareness, increase in start-ups
and mentors and reduced
operational costs
• Continue to build affinity program
partnerships
Impact: special discounted offers
for CYBF stakeholders
The CanadianYouth Business Foundation 2010 Annual Report
18
The CanadianYouth Business Foundation 2010 Annual Report
19
CA NA DI A N YOUTH B USI NESS FOUNDATI ON
Condensed Financial Results Statement of Financial Position
As at September 30
ASSETS 2010 2009
CURRENT
Cash and cash equivalents $ 9,381,901 $ 4,139,752
Short-term investments 992,086 3,706,362
Loans 4,409,367 3,378,730
Other current assets 263,781 232,971
15,047,135 11,457,815
LOANS 11,027,741 8,927,477
CAPITAL ASSETS, net 51,753 82,017
$ 26,126,629 $ 20,467,309
LIABILITIES
CURRENT
Accounts payable and accrued liabilities $ 688,580 $ 627,586
DEFERRED RENT, CONTRIBUTIONS AND GRANTS 8,008,904 8,213,075
8,697,484 8,840,661
NET ASSETS 17,429,145 11,626,648
$ 26,126,629 $ 20,467,309
CA NA DI A N YOUTH B USI NESS FOUNDATI ON
Condensed Statement of Operations
Year ended September 30
2010 2009
REVENUES
Contributions $ 12,854,106 $ 7,176,384
Loan interest and fees income 871,498 674,630
Investment and other income 59,607 113,579
13,785,211 7,964,593
EXPENSES
Entrepreneurial programs 4,277,547 3,476,144
Mentoring 641,003 866,377
Promotional events 1,194,940 141,775
Administration 1,029,615 946,467
Fundraising 839,609 690,534
7,982,714 6,121,297
EXCESS OF REVENUES OVER EXPENSES $ 5,802,497 $ 1,843,296
CA NA DI A N YOUTH B USI NESS FOUNDATI ON
Condensed Statement of Cash Flows
Year ended September 30
2010 2009
NET INFLOW (OUTFLOW) OF CASH RELATED TO THE
FOLLOWING ACTIVITIES
OPERATINGACTIVITIES
Cash received from contributors $ 12,586,814 $ 10,603,267
Cash received from principal payments 3,564,886 2,559,645
Loan advances (8,213,150) (6,670,600)
Other operating activities (5,349,794) (3,840,640)
2,588,756 2,651,672
FINANCINGAND INVESTING 2,653,393 (335,180)
Net increase in cash and cash equivalents during the year 5,242,149 2,316,492
Cash and cash equivalents, beginning of year 4,139,752 1,823,260
Cash and cash equivalents, end of year $ 9,381,901 $ 4,139,752
A complete set of audited financial statements may be obtained through the National office by calling (416) 408-2923 ext. 2124.
Condensed Financial Statements
The CanadianYouth Business Foundation 2010 Annual Report
20
Management Commentary On Financial Results For 2010
Fiscal 2010 marked the fifth consecutive year of significant growth as we issued a record 579 advances to
young entrepreneurs totaling $8,213,150, an increase of 87 start-ups over last year. Youth entrepreneurship
is leading the way as the Canadian economy grows out of the 2009 recession.
Federal and Provincial government support are key to CYBF’s success to date and to our future. The 2009
Federal Government grant of $10 million provided the key funding for 2010 and the Federal Government
has provided a new $10 million grant to fund our growth in 2011. The $5 million Province of Québec funding
over the next five years was finalized in 2010 and $1.85 million was received during the year. These funds
are critical to continuing the growth of CYBF.
Our five year Strategic Plan has been updated to 2015 as we have exceeded the growth targets for the last
three years. CYBF is now growing into a much larger organization with significantly increased capacity to
support the youth of Canada in their business endeavors. Innovation, green and newcomer funding initiatives
are now in their test phases and will be key parts of our growth in the coming years.
We continue to manage our overall operations in an efficient manner with administration expenses
representing only 6.4 per cent of our total resource utilization. 81 per cent of our resources were used to
fund our start-up, mentoring and education programs.
CYBF is now the leader of entrepreneurship in Canada. We hosted the extremely successful inaugural G20
Young Entrepreneur Summit in June 2010 and followed this with an a very active set of initiatives during
Global Entrepreneurship Week (GEW) in the fall of 2010.
HowOur Financial ResourcesWere Utilized
Loans Advanced
In Fiscal 2010
Entrepreneurial Start-Ups*
Fundraising
Entrepreneurial Programs**
Administration
Outreach Initiatives
50.5%
30.5%
7.4%
5.2%
6.4%
52.2%
33.9%
1.1%
5.4%
7.4%
September 2010 September 2009
Quebec
38.5%
$3,138,000
$2,094,900
Western
25.7%
Ontario
27.5%
$2,243,000
$667,250
Atlantic
8.3%
Financial Reports
* Start-Up financing pool ** Mentoring, Pre-Launch Coaching and Online Business Resources
The CanadianYouth Business Foundation 2010 Annual Report
21
Effectively Managing Our Loan Portfolio
Our loan portfolio, before loan loss provision, has now grown to $18,079,000 with 1,633 young entrepreneurial
companies currently benefiting through our start-up financing. Québec led the way with 221 start-ups totaling
$3,138,000. Ontario followed with 156 start-ups at $2,243,000 and British Columbia showed strong growth
to almost $1,451,000 in new loans. The annual write-offs decreased slightly to 5.86 per cent of our
average loan portfolio during the year as we continue to monitor arrears closely and the quality of applicants
sent to us through our community partner network continues to be strong. This is also evidence of the
critical role played by the mentors who advise each and every one of our young entrepreneurs on the road
to their business success.
Our active community partner network now stands at 161. It is largely through these partnerships and the
loan review committees throughout the cities and towns of Canada that we achieve our growth targets.
They are all to be congratulated for their role in CYBF’s success to date.
Financial Reports
Loan Portfolio Write-offs Write-offs %
$ in Millions
$20
$15
$10
$5
$0
25
20
15
10
5
0
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
%
Loan Portfolio and Annual Write-offs
5.86%
The CanadianYouth Business Foundation 2010 Annual Report
22
CA NA DI A N YOUTH B USI NESS FOUNDATI ON
Investments at Market Value
As at September 30
2010 2009
OPERATING CASH $ 173,841 $ 265,461
CASH EQUIVALENTS
Cash in investment accounts earning 30 day T-bill rate 70,064 146,460
Treasury bills – –
Other commercial paper 9,137,996 3,727,831
SHORT TERM INVESTMENTS
Treasury bills – 1,099,418
Other commercial paper 992,086 2,606,944
$ 10,373,987 $ 7,846,114
Investment Policy
CYBF has an Investment Policy with an active management strategy that has been approved by the CYBF
Board of Directors. The primary objective of CYBF’s investment portfolio is to:
1. Preserve its capital;
2. Provide liquidity to meet disbursement requirements as required over the next three to five years;
3. Maintain appropriate diversification; and,
4. Generate investment returns relative to these guidelines and prevailing market conditions.
The Investment Guidelines of this policy are quite extensive and in all instances CYBF shall adhere to the
Prudent Person Principle whereby it shall invest and manage investments according to investment policies,
standards and procedures that a prudent person would exercise in making investment decisions regarding
property belonging to others.
In general, eligible investments include high quality government and commercial paper that do not exceed
three years in maturity. No asset-backed securities, mortgage-backed securities, equity securities, derivatives,
commodities, and securities not denominated in Canadian dollars are allowed.
The long-term return objective of CYBF's investments will be to meet or exceed the annual inflation rate as
denominated by the published Canadian Consumer Price Index.
CYBF's return objectives will only be pursued in accordance with CYBF's tolerance for risk and ability to
take risk with invested funds. Risk mitigating action with respect to funds invested will be focused on ensuring
that CYBF maintains the real (inflation adjusted) value of its investment portfolio, meets its disbursement
requirements and protects its capital.
CYBF will engage investment advisors/managers who have an industry proven record of adhering to internal
investment guidelines designed to ensure a consistent approach to risk control through well-defined
diversification and quality standards.
Acopy of our full investment portfolio and Investment Policy may be obtained through the National Office by calling (416) 408-2923 ext 2101.
Investments
Financial Reports
The CanadianYouth Business Foundation 2010 Annual Report
23
CYBF’s Fiscal 2010 Board of Directors, Business Advisors &ExecutiveTeam
Anational organization such as CYBF could not succeed without significant leadership and involvement from
a highly engaged and effective Board of Directors and Business Advisors. On behalf of Canada’s young
entrepreneurs, mentors and partners, we would like to thank these individuals who freely give their time;
providing us with strategic advice, operating experience, support for our fundraising efforts, and help to
champion youth entrepreneurship.
Board of Directors
Officers
John Risley, O.C.
CYBF Chairman
Chairman, Clearwater Fine Foods Inc.
David Stewart-Patterson
CYBF Vice-Chairman
Jonathan Simmons
CYBF Treasurer
Partner, PricewaterhouseCoopers LLP
Steve Farlow
CYBF Secretary
Executive Director, Schlegel Centre for Entrepreneurship
Directors
David Aisenstat
President and CEO, The Keg Steakhouse & Bar
Chairman, The Keg Spirit Foundation
Harry Chemko
CEO, Elastic Path Software Inc.
(CYBF 2005 National Best Business Winner)
Ronnen Harary
Co-CEO
Spin Master Ltd.
Michel Kelly-Gagnon
President & CEO
Montreal Economic Institute
Honourable Ralph Klein
Former Premier
Province of Alberta
George Marsland
President
Global Development Corp.
Edmée Métivier
Executive Vice President
Business Development Bank of Canada
Sarah Prevette
Founder & CEO
Sprouter
Mark Segal
Chief Financial Officer
Spin Master Ltd.
Catherine Swift
CYBF Fundraising Committee Chairwoman
Chairwoman, President & CEO
Canadian Federation of Independent Business
Lorna Telfer
Senior Vice President, General Counsel & Secretary
Ivanhoe Cambridge Inc.
Business Advisors
Laurent Beaudoin, C.C., FCA
Chairman of the Board and Chief Executive Officer
Bombardier Inc.
Serge Godin
Founder & Executive Chairman of the Board
CGI Group Inc.
ExecutiveTeam
Chief Executive Officer
Vivian Prokop
Senior Vice President
& Chief Operating Officer
Terry Campbell
Senior Vice President, Marketing,
Communications & Strategic Partnerships
Katrina White
Chief Financial Officer
John Clark, CA
Vice President, Human Resources,
Governance & Administration
Danielle Mandell
Vice President, Programs
Tessa Mintz
Mahsa Taheri (currently on maternity leave)
Directors, Advisors & Team
The CanadianYouth Business Foundation 2010 Annual Report
24
National Office
100 Adelaide Street West, Suite 1410
Toronto, Ontario M5H 1S3
National office - Tel: (416) 408-2923, 1 (866) 646-2922
Regional offices - Tel: 1 (800) 464-2923
Email: [email protected]
@CYBFCanada
Canadian Youth Business Foundation
(CYBF / FCJE)
British Columbia
13545 64 Avenue, Suite 203
Surrey, British Columbia V3W 1Y2
Tel: (604) 598-2923
Email: [email protected]
@CYBFBC
Alberta
100 Mount Royal Circle S.W., Suite 68A
Calgary, Alberta T3E 7P7
Tel: (403) 265-2933
Email: [email protected]
@CYBFWest
Manitoba & North
3025 Portage Avenue, Unit 230
Winnipeg, Manitoba R3K 2E2
Tel: (204) 480-8481
Email: [email protected]
@CYBFMB
Saskatchewan
129 - 21
st
Street East, Suite 301
Saskatoon, Saskatchewan S7K 0B2
Tel: (306) 652-1824
Email: [email protected]
Ontario – Toronto
100 Adelaide Street West, Suite 1410
Toronto, Ontario M5H 1S3
Tel: (416) 408-2923 ext. 2126
Email: [email protected]
@CYBFOntario
Ontario – North
1500 Fisher Street, Suite 210
North Bay, Ontario P1B 2H3
Tel: (705) 840-1909
Email: [email protected]
@CYBFOntario
Ontario – South
285 King Street, Suite 203
London, Ontario N6B 3M6
Tel: (519) 439-2923
Email: [email protected]
@CYBFOntario
Québec
4707 boulevard Des Laurentides, bureau 101
Laval, Québec H7K 3G4
Tel: (514) 225-7035
Email: [email protected]
@FCJE
Atlantic - Nova Scotia
1575 Brunswick Street
Halifax, Nova Scotia B2J 2G1
Tel: (902) 426-6530
Email: [email protected]
CYBF Offices
On the back cover:
CYBF Entrepreneur: Monica Mei, owner of Aime Luxury
CYBF Mentor: Rajan Krishnamachan
CYBF Community Partner: CYBF
Inception: 2008
Jobs Created: 40
Location: Toronto, Ontario
Website: www.aimeluxury.com
Aime Luxury is a socially responsible luxury fashion brand – using all-natural,
eco-friendly and organic materials to design and manufacture effortlessly chic
yet comfortable clothing for women.
To read more about Monica’s entrepreneurial journey, visithttp://www.cybf.ca/story-gallery/success-stories/ontario/Aime.pdf
• CLD Domaine-du-Roy
• CBDC Cumberland
• South Central Community Futures
Development Corporation
• CLD de la MRC de Memphremagog
• CLD de Shawinigan
• CFDC of the SE Region - BC
• Whitehorse Chamber of Commerce
• The Thunder Bay & District
Entrepreneur Centre
• Small Business Resource Centers Inc
• Ottawa Community Loan Fund
• YWCA
• The Business Centre Nipissing
Parry Sound
• Kawartha Lakes Small Business
Enterprise Centre
• Centennial College
• Okanagan Valley Entrepreneurs
Society
• Small Business BC
• CLD Cote-de-Gaspe
• CBDC Chaleur
• CLD de la MRC de Charlevoix
• CBDC Trinity Conception Corporation
• Centre Local de développement
(CLD) Maria-Chapdelaine
• Akaitcho Business Development
Corporation
• SADC de la MRC de Rivière-du-Loup
• Dauphin Economic Development
Centre
• CBDC West Prince Ventures Limited
• Manitoba Education, Citizenship and
Youth, MB4Youth Division
• University of Saskatchewan
• YMCA Business Centre
• Réseau Accès Crédit
• CBDC Northumberland Inc.
• Global Infobrokers Inc
• Sahtu Business Development Centre
• CLD de la Vallée-du-Richelieu
• Carrefour Jeunesse Emploi (CJE) de
D Autray-Joliette
• Superior North Community Futures
Development Corporation
• Corporation de Developpement
Economique des Bois-Francs (CLD)
• Trenval Business Development
Corporation
• Interconnection Research Internation Ltd
• Baffin Business Development
Corporation
• CLD Rivière du Nord
• Self Employment & Entrepreneur
Development Society (SEEDS)
• CLD de la MRC de Maskinongé
• Celtic Business Development
Corporation
• CLD de Robert-Cliche
• Naicam Business Opportunity
Co-operative
• Toronto Business Development
Centre - West Campus
• Greater Victoria Economic
Development Commission
• Centre for Entrepreneurship
Education and Development (Halifax)
• Enterprise Centre Sault Ste Marie
• Société d’aide au développement de
la collectivité de L’Amiante (SADC)
• SADC de Baie-des-Chaleurs
• The University of Winnipeg
• Global Infobrokers Inc
• Centre d'Aide aux Enterprises
Haute-Yamaska et Region
• Dinsmore Small Business Loans
Association Inc.
• CBDC Central PEI
• Cabot Community Business
Development Corporation
• CLD de Longueuil
• Blue Water Business Development
Corporation Limited
• Bruce Community Futures
Development Corporation
• Community Opportunity & Innovation
Network Inc. (COIN)
• CLD De la Ville de Saguenay
• Dogrib Area Community Futures
• CLD de la MRC de L'Assomption
• Kingston Economic Development
Corporation
• CLD Pierre-De Saurel
• Community Futures Heartland
• Women Entrepreneurs of
Saskatchewan Inc. - Saskatoon
• Conseil Economique de Haut-Richelieu
• CBDC Péninsule acadienne Inc.
• Mount Royal College
• Capilano University
• LAMBAC (LaCloche Manitoulin
Business Assistance Corporation's)
• Société de Développement
économique de Drummondville
(CLD Drummond)
• Société de Développement
Économique de Lévis
• YMCA-YWCA of Northeast Avalon
• Toronto Business Development Centre
• Bow Valley College
• Stratford Perth Centre for Business
Development Corporation
• SAJE Montreal Metro
• Community Futures Winnipeg River
• The Business Enterprise Centre of
Sarnia-Lambton
• NAIT
• S.U.C.C.E.S.S
• Hants-Kings Business Development
Centre Limited
• Northwest Business Centre
• Bear Hills Rural Development
Corporation
• SAIT Polytechnic
• Société d'aide au développement
de la collectivité (SADC) Achigan-
Montcalm
• SADC du Suroit-Sud
• CLD de la MRC du Val-Saint-Francois
• WindsorEssex Development
Commission (WEDC)
• Community Futures Triple R
Corporation
• DMH Public Relations &
Communications Inc.
• Discovery Center for Entrepreneurship
• Centre Local de Developpement
Economique des Moulins
• Global Business Centre
• Community Futures Prince Albert
& District
• CLD de Roussillon
• IDÉ Trois-Rivières
• CLD de Sept-Rivières et Minganie
• Hamilton Small Business Enterprise Centre
• CLD du Haut Saint-Francois
• Metro Business Opportunities Corporation
• CLD de Laval
• Corporation of the City of St. Catharines
• CLD de Portneuf
• Prescott-Russell Entrepreneurship Centre
• Canada International College
• Cornwall Business Enterprise Centre
• CLD de Lajemmerais
• Women Entrepreneurs of Saskatchewan
Inc.- Regina
• SOCCA (Société de Crédit Commercial
Autochtone)
• Victoria Madawaska-South Business
Development Centre Inc
• Deh Cho Business Development Centre
• CLD MRC Rouyn-Noranda
• Richmond Chamber of Commerce
• Red River College
• CLD de la Côte-de-Beaupré
• CYBF Calgary
• Centre Local de Développement (CLD)
de La Matapédia
• CBDC Yarmouth
• Waterloo Region Small Business Centre
• CFDC of Chatham-Kent
• Community Futures Development
Corporation of Okanagan-Similkameen
• CBDC Westmorland Albert Inc
• Prince George Chamber of Commerce
• Alberta Women Entrepreneurs
• Centre local de développement L'Islet
• Restigouche CBDC Inc.
• North Claybelt Community Futures
Development Corporation
• Salmon Arm Economic Development
Society
• Nickel Basin Federal Development
Corporation
• Enterprise Renfrew County
• Centre Local de Developpement (CLD)
Gatineau
• Southwest Valley Development
Corporation Inc.
• CLD de la MRC de Lotbiniere
• Community Futures Westman Inc
• Thebacha Business Development
Services
• YES Montreal (Youth Employment
Services)
• Huron Business Development
Corporation
• George Brown College
• Regina Chamber of Commerce
• Enterprise Greater Moncton
• Norfolk District Business Development
Corporation
• Enterprise Saint John
• CYBF
• Centre Local de Développement (CLD)
Les Maskoutains
• FONDS COMMUNAUTAIRE D’ACCÈS
AU MICRO-CRÉDIT
• Timmins Business Enterprise Centre
• South Lake Community Futures
Development Corporation
• Pro-Gestion Estrie
• Prince Edward, Lennox and Addington
(PELA) CFDC
• Community Futures Development
Corporation of 16/37
• CLD Antoine-Labelle
• CBDC Madawaska Inc.
• Goldensouth Business Deveopment
• CLD de Québec
• Community Futures North Central
Development
• London Small Business Centre
• CYBF Western
• Enterprise Temiskaming
• CLD de la Haute-Côte-Nord
Thank you to the 161 community partners who help us deliver our program from coast to coast to coast.
Our partners truly are our community connection.
Community Partners
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