CYBF Newcomer Entrepreneur Program helps New Canadians to BC Break Through Glass Ceiling



    VANCOUVER, Aug. 5 /CNW/ - For new Canadians to BC, moving to a new
country and province is not easy. While many newcomers are naturally
entrepreneurial, starting a business can be especially daunting. New Canadian
entrepreneurs will benefit from a new Newcomer Entrepreneur Program offered by
the Canadian Youth Business Foundation (CYBF) providing 'culturally-sensitive'
mentors in related backgrounds with in-depth knowledge about the BC
marketplace. Additionally, CYBF's loan program has been modified to allow
newcomers without a credit history or long standing references to apply.
    "Having been a newcomer myself and previously serving as the Executive
Director for Surrey Self Employment and Entrepreneur Development Society, I am
happy to endorse CYBF's Newcomer Entrepreneur Program because a program like
this is so needed in BC" says Jagrup Bar, Member of the Legislative Assembly
of British Columbia (MLA) for the Surrey Panorama Ridge.
    Statistics Canada reports that the unemployment rate for recent
immigrants is 9.7 percent, more than double the rate of Canadian-born British
Columbians. British Columbia has led the country in self-employment growth
over the last decade with approximately one-fifth of all entrepreneurs being
under 35.
    "CYBF has really got something here", says Vancouver based CYBF
entrepreneur and co-founder of Sliced Tomatoes, Hanson Ho. "A program like
this is a fantastic way to help immigrants establish themselves financially in
this country, and it will also help Canada succeed in the new world economy.
The future growth of this country will be fueled by innovation, and who better
to innovate than newcomers with new ideas."
    The average newcomer experience is often described as hitting a glass
ceiling, where they face concrete barriers, preventing them from integrating
and making inroads into the corporate world. "Newcomers are forced to rethink
their strategy choosing to become entrepreneurs", says Cathy Delaney, CYBF's
Director for BC. "They face challenges struggling to overcome language and
cultural differences in running a business and also lack credit history. In
response to a growing demand, CYBF created a unique entrepreneurial program
that helps newcomers launch and sustain successful businesses."
    "I owe many thanks to CYBF for helping me get on the map as an
entrepreneur that supports and provides families to build up a greater
relationship with their animal family member" says CYBF Vancouver based
Hispanic entrepreneur, Lilliana Olmedo, founder of Animals Overcranked Daycare
Centre. Providing diversity animal education programs has always, and will
continue to be a challenge for me. With the constant support of the CYBF I
have been able to reach out to people and many animals by applying the best
animal welfare program. It would be difficult to have my successful business
without CYBF. I am thankful for the support I have received from them."
    The Canadian Youth Business Foundation (CYBF), a national charity
providing mentors, start-up financing and business resources, recognizes that
Canada is a nation of immigrants, eager to turn dreams into reality. Their
aspirations and hopes lie in their ability to bridge the 'integration' gap,
whereby they can capitalize on their entrepreneurial goal and realize an even
higher goal of offering their family a better life in Canada.

    The Canadian Youth Business Foundation (CYBF) is a national charity that
provides youth, age 18-34, who have a great business idea but are unable to
access funds through other traditional sources, with the start-up financing,
mentoring and business resources to create their own successful business.
Lending based on character not collateral, CYBF's mandate is to keep
entrepreneurship alive and well to create economic prosperity in communities
across Canada.
    Since founded in 1996, CYBF has invested in more than 2,400 young
entrepreneurs, whose businesses have generated more than $267 million in sales
revenue, $63 million in tax revenue, $29 million in export revenue, and
created more than 13,000 new jobs. Through CYBF's national framework of
community partners we are able to deliver our program to more than 1,300
communities across Canada. CYBF is an accredited member of Youth Business
International, a global network of business start-up organizations. CYBF is
headquartered in Toronto, Ontario, with offices across Canada. Information
about CYBF is available at www.cybf.ca.





For further information:

For further information: Please direct media inquiries to: Cathy
Delaney, Director, British Columbia, Canadian Business Youth Foundation
(CYBF), cdelaney@cybf.ca, Tel: (604) 598-2923, Cell: (604) 787-7549

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CANADIAN YOUTH BUSINESS FOUNDATION

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