OTTAWA - More Aboriginal entrepreneurs will be eligible for funding thanks to changes in the Aboriginal Business Canada program. The program, which provides financial assistance and support for the sector, has adjusted its age cap from 30 to 35. The move is expected to allow applicants in the program to gain more education and experience before starting a business.

In addition to the age requirements (18-35) applicants must also follow this criteria:

• prove Aboriginal heritage
• demonstrate that they have tested the viability of the business idea
• at least 10 per cent of the eligible costs must be covered through prior investment
• hold a majority interest in the organization

Young people make up almost 20 per cent of all self-employed Aboriginal people and they are more than twice as likely to be entrepreneurs than Canadian youth in general, says Industry Canada.

Aboriginal Business Canada is open to all Aboriginal heritage groups and majority-owned Aboriginal companies looking for financial assistance, information and support. The program has also been partnered with the National Aboriginal Economic Development Board to promote businesses in a variety of sectors.

For more information on the program go to http://abc-eac.ic.gc.ca

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