Ensuring that our youth have access to business skills, are better prepared to enter the labour force and have the information necessary to consider an entrepreneurial career choice is why the Province is providing a grant of $1 million to Junior Achievement B.C. (JABC), announced Minister of Finance, Kevin Falcon at the BC Business Laureates and Junior Achievement Gala Dinner event.

Aligning with targets in 'Canada Starts Here: The BC Jobs Plan', our government recognizes that youth are a key component to successfully fill the anticipated gaps we will be facing in our labour force. JABC offers business education programs that teach work readiness, entrepreneurship and financial literacy to elementary, middle school and high school students throughout the province. Programs are developed in partnership with local schools and business owners to deliver these programs.

JABC programs provide our youth with the skills they need to make better financial decisions, start a company, develop a career plan and express their innovative spirit. JABC is part of an international non-profit organization that delivers business training programs through partnerships with local schools, together with individual volunteers from local business communities.

Since 2006, the Province has contributed $4 million to JABC.

Quotes:

Kevin Falcon, Minister of Finance -

"Our young people will determine British Columbia's ability to create jobs, and compete nationally and globally as they pursue their career goals."

"B.C.'s funding for Junior Achievement continues to help pave the way for budding entrepreneurs to take their first steps on the way to becoming the province's business leaders of tomorrow."

Kevin Krueger, co-chair, Small Business Roundtable -

"During Small Business Roundtable consultations, small business owners consistently identified a need to expand the education of our youth to include business, financial and entrepreneurship training, and to provide them with the knowledge and tools to consider becoming the entrepreneurs of tomorrow, or to enter the workforce with basic business skills and practical knowledge."

Jan Bell-Irving, JABC president -

"Our business programs build young people's confidence and workforce readiness, whatever career they pursue. They also develop important teamwork, leadership and entrepreneurial skills."

"This grant will enable JABC to continue our growth across B.C., and help us connect thousands of students to the example and encouragement of local business role models."

Quick Facts:

• B.C. continues to foster an entrepreneurship culture, including the declaration of October as Small Business Month and supporting programs that expose youth to business training, preparing them to become the entrepreneurs of tomorrow.
• Government has eliminated more than 152,000 regulations since 2001 to support small business growth - a red tape reduction of over 42 per cent.
• As part of our commitment to regulatory reform, we have brought in BizPaL - an online tool to help small businesses find information on the permits and licences needed from three levels of government for business startup and operation. As of March 2012, BizPaL is available in 110 B.C. communities.
• B.C. has one of the lowest small business corporate income tax rates in Canada at 2.5 per cent - a reduction of 44 per cent since 2001.
• Since 2002, the small business corporate income tax threshold (below which small businesses pay the lower rate of tax) has been increased from $200,000 to $500,000.
• Budget 2012 increased the Small Business Venture Capital tax credit budget to $33 million annually, including a new $3 million allocated specifically for direct investments in eligible new corporations that are less than two years old.
• A permanent Small Business Roundtable was created in 2005, giving small businesses a voice in government. The roundtable has hosted 48 consultations in all regions of the province to engage over 960 small business owners.

Learn More:

Junior Achievement British Columbia: http://british-columbia.jacan.org/

Junior Achievement Canada: http://www.jacan.org/

Small Business Roundtable: http://www.smallbusinessroundtable.ca/

Contact:

Media Relations
Government Communications and Public Engagement
Ministry of Jobs, Tourism and Innovation
250 356-7104