Creating Youth Business Initiatives

CYBI offers opportunities to unemployed young adults and other young people receiving a supporting benefit who have an idea for a business, and want to explore the possibility of establishing and operating their own business or entering self-employment.

Who can participate?
Young adults from 18 to 28 years old, who are unemployed and/or receiving supporting benefit.

Applicants must have a business idea they wish to develop and be motivated to pursue it. They will need to describe their idea and provide background information on themselves.

Those young adults who are eligible for the Commonwealth Government's New Enterprise Incentive Scheme (NEIS), or have already graduated, are also able to apply to participate in the CYBI program.

What does CYBI offer?
CYBI will look at whether the applicant's business idea seems likely to be viable in their circumstances.

CYBI will consider applications for financial assistance on the basis of the Business Plan. This assistance is usually by way of a formal loan agreement for up to $5000 repayable over 2 years (maximum), charged at approx. 2.5% per annum on the overall amount borrowed.

The loan is for identified business commencement expenses, including necessary equipment items.

Applicants usually join the CYBI Program for a 2 - year period. During this time CYBI will arrange regular network meetings so that participants can discuss the experiences of their peers and of other business operators.

If you are not applying for NEIS, or a NEIS graduate
Applicants who are not NEIS graduates and who are accepted by CYBI will be offered a workshop program, which will give them the Information and guidance needed for them to complete a comprehensive Business Plan covering their proposed business for the first year.

The workshops will provide information and guidance on the key elements of business planning and personal development. Topics covered will include business analysis, personnel and premises, legal aspects, record keeping, financial and marketing.

The initial workshop will be held over 2 days, with 3 subsequent recall days over several weeks leading to completion of their Business Plan.

What is expected of participants?
They are expected to be strongly committed to pursuing the development of their business ideas through completing a soundly based Business Plan and to work a minimum of 20 hours each week in operating their business.

Applicants will be required to provide details of their proposed business and their relevant personal circumstances to enable CYBI to assess their application for business viability and entrance to the Program.

If you are not a NEIS graduate
If you are not a NEIS graduate, when accepted onto the CYBI program, applicants will pay CYBI $325 in advance to enter the Business Plan workshop series.

Applicants who complete the 5 days of workshops will pay an additional $450. (This amount will usually be included in their 2 year loan agreement.) The total of $775 includes the 5 days workshop attendance, individual guidance and materials.

This cost is matched by CYBI, in other words CYBI subsidises the program costs to the order of 50%.

Who can advise me further about this?
If you require further information contact the Canberra Business Advisory Service.
There is an application form available which you are invited to complete if you think you meet the outline given.

If you are receiving a supporting benefit of any kind you may wish to discuss this opportunity with your Centrelink or Job Network contact or case manager.

Please note that CYBI does not provide any income support for living
or personal expenses, or other support such as professional
counselling or business consultancy advice.

We look forward to applications from people interested and prepared to make the most of these opportunities.

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Site designed by Leona Butler and Grant Robb.