Being an entrepreneur is a leap of faith. When one starts on this journey, you leave everything behind. Every day brings new challenges that have to be turned into opportunities.
What if one of the most important trials – financial security – can be provided for until the startup project takes off?
In the fall of 2017, the Government of Ontario introduced a new form of benefit: Basic Income.The three-year pilot that takes place in Hamilton, Thunder Bay, and Lindsey, offers randomly selected individuals up to $16,989 per year for a single person, or up to up to $24,027 per year for a couple.
What is the only requirement to access this funding? Be 16 to 64 years of age. Participants can go to school to further their education, begin or continue to work, or be entrepreneurs while receiving the basic income. The Basic Income amount will decrease progressively when an income is received.
The session explores the concept of Basic Income – history, the Ontario pilot and the benefits that presents to entrepreneurs, similar programs in other countries, and will conclude with a vision of life in 2033.
Key Take Aways
- Personal financial support options for entrepreneurs
- Income security in Ontario
- Policy development
- Community development
- Activism and engagement through social media