Up to 57 bursaries to be given to young entrepreneurs in Saskatchewan

WATCH: The Saskatchewan Chamber of Commerce has provided a new bursary for young entrepreneurs which will be available for the next three years.

On Wednesday, the Saskatchewan Chamber of Commerce announced the launch of the Young Entrepreneurs Bursary for ages 18 to 35, which will be available for the next three years.

In collaboration, the Government of Saskatchewan is providing the chamber $285,000, covering administration and processing costs, which should total an investment of $940,000.

“[The bursary] is there to encourage those young entrepreneurs that are just coming up through the ranks and just need that little incentive to say, ‘You know what? This is a great idea. I think it’s time that I went public with this idea,” said Warren Kaeding, Saskatchewan’s Minister of Trade and Export Development.

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According to the Government of Saskatchewan, the province was home to almost 152,000 businesses in 2024, including 149,000 small businesses. On average, that’s 125 small businesses for every 1,000 people.

Holding 57 chambers across the province, the chamber of commerce will deliver up to 57 bursaries per year, valued at $5,000 each. They hope to give out one bursary per chamber, covering every area of the province.

In order to obtain these bursaries, applicants must answer several questions to evaluate strength of the business and plans for the funds.

“Entrepreneurship is the backbone of Saskatchewan’s economy,” said Prabha Ramaswamy, the Chief Executive Officer of the Saskatchewan Chamber of Commerce. “Across every corner, across every corner of our province, from Meadow Lake to Moosomin, young entrepreneurs are solving real problems, creating jobs and building the future of our communities.”

According to the Saskatchewan Chamber of Commerce, 90 percent of businesses in the province are self-owned, while 40 percent of the population is under 35 years of age.