Hire a Student: Save Money and Inspire Future Entrepreneurs
Hiring students is a great way to save money for your business and to inspire a new generation of entrepreneurs.
Help your bottom line
In return for giving an eligible full-time student valuable work experience, you could receive a wage subsidy to help you pay that student's salary with the Canada Summer Jobs program, or with programs in your province or territory.
Hiring a co-op student is another great way to cut down on hiring costs and provide students with invaluable 'real world' experience. You can hire co-op students during the regular school year, not just during the summer, allowing you to get help with projects year-round.
Many colleges and universities offer co-op programs, and if you hire eligible students, you could receive a refundable tax credit like the Co-operative Education Tax Credit (CETC). If you are looking to hire young people in the skilled trades, your business could also benefit from the Apprenticeship Training Tax Credit.
Advantages of hiring a student
- Students are up to date on the latest technologies being taught in school, and eager to put what they've learned into practice in the business world.
- Young people in their first jobs are often keen to learn and have new, creative ideas that can inspire others.
- A summer job or co-op term can be the training ground for a future employee. As an employer, you are already familiar with the young person's skills and work ethic. If you hire the student after graduation, you will have someone who is familiar with your business and its operations.
- Most placement programs offer support for you and for the student, in terms of administration, pre-screening, and on-site visits, which can help promote your business and contribute to the success of the venture.