RBC Family & Small Business Funding
Family & small business employers are eligible to receive a 50% wage-subsidy up to $5000 for every 4 month work-term, to a maximum of $15,000 for 12 months paid work, to hire a Dhillon School of Business Co-op student in an integral role to support moving their business forward.
About the funding
As part of a larger gift in 2016, RBC provided funding to the University of Lethbridge's Dhillon School of Business Co-operative Education program. Family and small business employers can apply to receive the financial boost they need to help hire a student who can help advance their business goals in summer, fall and/or spring semesters.
In turn, this financial support gives students the opportunity to utilize and expand their professional skills, experience and confidence by participating in paid co-op work terms with family and small businesses in southern Alberta. These work-integrated learning opportunities in turn help prepare students for a smooth transition into the business world after graduation.
Terms of reference:
- applications will be considered based on the following:
- need
- potential impact on your business
- benefit to the co-op student
- location- southern Alberta
- being a family and/or small business, or an organization that has a direct impact on small business development
- businesses can apply to receive funding for up to $1000 per month to employ a co-op student in a full-time position (minimum of 30 hours/week for 15-16 weeks)
- an additional (final) four month RBC subsidy can be applied for if the employer extends the same co-op student for a subsequent four month co-op work term
- work terms are arranged on the semester system:
- Summer: May – August
- Fall: September – December
- Spring: January - April
- supervisor must be in a position of authority and be able to provide guidance and mentorship
- student must be a current Dhillon School of Business undergraduate student at the University of Lethbridge and registered in the Co-op program
- students cannot already be a full-time employee of the organization working in the same capacity as the proposed co-op work term
- student wage must be a fair living wage and fair for the industry
- funding will be received by employers monthly by invoicing the Dhillon School of Business Co-op Office
- During and after RBC co-op work term(s), recipient businesses and co-op students will be informed of methods for reporting their feedback to co-op program administrators re: program benefits and work term progress (ie. mid-term progress summary, end of work term video report, end of work term meeting with RBC representatives). This information will comprise an update to RBC funders.
- Note: students participating in RBC funded co-op placements will be required to participate in an end of work term presentation or video report to RBC representatives (format determined and scheduled by a semesterly student poll).
Apply for RBC Family and Small Business funding
Applications will be reviewed three times a year for summer, fall and spring work terms. Once through the initial review process, applicants will be contacted for further information.
If you have any questions regarding the application or the process, please contact coop@uleth.ca.
Co-op work terms (4, 8, or 12 months) must fall within our academic semesters:
- Summer (May–Aug.) co-op positions
- Fall (Sept.–Dec.) co-op positions
- Spring (Jan.–April) co-op positions