Prime Minister Stephen Harper has announced the inclusion of a $10 million grant, as a way to help stimulate the economy. It is to be given to the Canadian Youth Business Foundation (CYBF) to help young entrepreneurs. It is part of the federal government's Economic Action Plan.

CYBF estimates 1,400 entrepreneurs will be able to start their own businesses this year and next, as a direct result of the grant. Also, the 900 businesses to be created in 2010 will need to hire 5,000 new workers, creating jobs.

"The government's generous commitment, coupled with private sector support, recognizes that young entrepreneurs have great potential to generate ideas and expand innovation to keep Canada strong" says Vivian Prokop, CEO, CYBF.

The CYBF's goal is to be able to launch two entrepreneurial businesses per day by 2012.

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