FAQ

Q: How can I register?

A: There are a few ways to register for the program. You can register online. If you had a school presentation, you could pick up and pass in your form at your school. You could also mail in your form to the address on the back of the brochure.


Q: How much does it cost to register in the program?

A: There is no registration fee for the Young Millionaires Program. We just ask for your time, enthusiasm, hard work and commitment.


Q: I'll be very busy this summer. Can I still participate?

A: It all depends on how long you'll be away, and if you think you can put forth an honest effort into making your business a success. If you're continuously busy with sports/camps/etc, or are going away for 4 to 6 weeks, this may not be the program for you.


Q: What if I don't have a business idea right now?

A: It's okay if you're not sure. You can still join the program. During the workshops, we'll have a big brainstorming session to come up with as many ideas for possible businesses as we can think of.


Q: Can we have three people in a partnership?

A: No, we generally like to limit a partnership to two people. We find it's a lot easier when it comes to coordinating schedules, delegating responsibilities, working out disputes, and dividing profits/losses.


Q: How long does the program run for?

A: The Young Millionaires Program typically starts off the year with school presentations in May. The deadline for registration is usually around the first week of June. Workshops are held throughout June, with interviews being held after the last workshop. Participants accepted into the program are presented their grant money around the beginning of July. Throughout July and August, site visits are scheduled, as well as group and selling activities. Celebration Night is held in late August or September.


Q: Do I automatically get $100 for signing up for the program?

A: No. To receive the grant money (up to $100 for sole proprietorships, $150 for partnerships) you must attend the workshops and pass in a completed business plan (which we help you out with). If you've worked hard at your business plan and can show that you're enthusiastic and dedicated to making your business work, you will most likely be accepted into the program and receive some grant money. However, if there is a large number of business plans submitted, we may be forced to turn down some applicants as there is only a limited amount of grant money available.


Q: What is the grant money for?

A: The non-repayable grant, received by successful applicants, is for the sole purpose of starting up your business. It's not for new shoes/sporting equipment/video games/etc. If you do not spend the grant money for your start-up costs, you will be asked to give it back.


Q: Do we have to pay back the grant money?

A: No, the money given to successful program applicants is non-repayable. You do not have to pay this back. However, if we feel that you have not made an honest effort to make your business a success, or if you fail to meet all the program requirements, we may ask for some or all of the grant money to be returned.