ESL Finance, an innovative company that will teach English as a Second Language through the Internet, is opening its head office in Charlottetown. Support for the company was announced today by Shawn Murphy, Member of Parliament for Hillsborough on behalf of the Government of Canada and by Prince Edward Island's Development and Technology Minister, Mike Currie.
Focusing on Japan and China, ESL Finance will sell its services to corporate and individual clients eager to learn or improve their English language skills. With English firmly established as the language of international business, the demand for English language training continues to grow.
"Finding your particular niche in any marketplace is the key to ensuring your company's success," said Shawn Murphy, on behalf of the Honourable Gerry Byrne, Minister of State for the Atlantic Canada Opportunities Agency (ACOA) and the Honourable Jane Stewart, Minister for Human Resources Development Canada. "By tapping into the growing demand for English language training via the internet, ESL Finance is well-positioned to achieve tremendous success."
"ESL Finance fits well into our vision for the technology sector in this province," said Minister Currie. "The company combines its own expertise with the advantage of this province's excellent reputation in Japan. We are pleased to be able to support this level of innovation."
Ten jobs will be created in the first two quarters of operations, with the anticipated addition of a further ten jobs as the company grows.
Terry Posylek is one of the principals in the company. He worked in Japan for six years, three years teaching English to students and corporate executives and three years selling ESL products to Japanese corporations.
"The Island connection is a central feature of our business plan," said Mr. Posylek. "Because PEI has such a great reputation in Japan and through Anne, there is a real sense of excitement and quality. Japan scores almost at the bottom of students taking the international English exams, so we want to build on this Japan-PEI link."
ESL Finance is supported by a $212,000 performance-based contribution from Technology PEI, a $187,500 loan from the Atlantic Canada Opportunities Agency and a $59,800 contribution from the Canada/Prince Edward Island Labour Market Development Agreement, co-managed by Human Resources Development Canada and the provincial Department of Development and Technology.
Technology PEI is the Government of Prince Edward Island's lead agency in the development, adoption and use of information technologies in business and community in the province.