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Young entrepreneurs need experienced mentors

(NC) Mentors are an important and invaluable resource directly linked to entrepreneurial success. Are you ready to be one?

Research suggests that good mentoring is critical to business success. Indeed, 88 per cent of entrepreneurs who have mentors survive in business, while only 50 per cent of those without a mentor make it through. This is why the Canadian Youth Business Foundation provides hand-matched mentors to young entrepreneurs. CYBF recruits people with diverse business know-how to help them thrive.

Mentors come in all shapes and sizes. They could be managing million-dollar companies or have decades of experience running local convenience stores. They may be experts in law, accounting, or marketing. They could be leading a not-for-profit organization or work as professionals for the government. Many Canadians have experience and skills that are relevant to someone in the start-up phase of their business.

The organization reports that since 1997, more than 3,000 volunteer mentors have successfully guided more than 5,600 young CYBF entrepreneurs through their crucial early stages – and is currently recruiting new mentors to support Canada's next wave of young business leaders. It only requires four to five hours per month and a commitment of up to two years. Anyone with time to give, plus a successful track record in their business sector, is welcome.

“The business needs of young entrepreneurs are as diverse as the mentors themselves,” says Linda Morana, CYBF Mentor in Residence. “Professionals looking to give back while using their unique skills and experiences, and acquiring new ones, are sure to find it mutually rewarding.”

Morana says that mentors will gain:

• A personal connection with a young entrepreneur.

• Valuable mentor training and support from CYBF's in-house experts.

• The sense that they are making a difference and contributing to the economic development of Canada or their local community.

• Pride in contributing to the launch of a successful business endeavor.

• An expanded business network that has inspired new ideas and approaches for their own businesses.

Additional information is available online at www.cybf.ca/mentoring.

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