Toronto is a diverse, multinational city home to a large number of people, including many entrepreneurs. In fact, many migrants who arrive in Toronto start their own businesses here. This once again demonstrates that Toronto is a city of opportunity. Today, we will discuss the Canadian entrepreneur of Ukrainian descent, Petro Jacyk. Read more about the life and work of this businessman on the pages of torontoski.info.
Life in Ukraine
The Canadian businessman was born in 1921 into a peasant family in the small village of Verkhnie Syniovydne. At that time, this settlement was part of Poland, but today it is in Ukraine. During World War II, in 1944, Petro left Ukraine as a refugee. He moved to St. Pölten (Austria) and then, a year later, travelled to Germany. In 1949, Petro Jacyk relocated to Canada.
Regarding education, Jacyk completed secondary school. He also took a six-month course in steam engines and a one-year course in dairy products and production. As Petro prepared for immigration, he studied Spanish, German, and English. Jacyk did not stop there. While already in Canada, establishing his own business, Petro completed the “Economics and Management Practice” program at the University of Toronto.
Developing Entrepreneurial Activity
Petro Jacyk arrived in Toronto with two dollars in his pocket in 1949. He immediately started working in a restaurant, where he washed dishes. Just a year later, Petro opened his own Ukrainian bookstore, “Arka,” in Toronto. Partners helped him launch the bookstore.
In 1952, the entrepreneur opened a furniture store, which eventually became a successful venture. But that was not all. Jacyk decided to become an independent builder and residential property developer, establishing Accurate Builders Limited and Prombank Investment Limited in 1959. It is worth noting that Jacyk’s company continuously expanded, and today it is known as the “Prombank” group of companies.
It should be highlighted that the entrepreneur always celebrated his Ukrainian roots while also emphasizing his Canadian identity.
More Than an Entrepreneur: A Philanthropist
Petro Jacyk was an active patron of Ukrainian science, education, and culture. For this reason, he financed the publication of Ukrainian books, dictionaries, and encyclopedias, notably the multi-volume “Encyclopedia of Ukraine.” Incidentally, the English-language version of the Encyclopedia was completed by the CIUS at the University of Alberta between 1984 and 1993 and published by the University of Toronto Press.
In addition, the entrepreneur provided funding for the construction of the Brazilian-Ukrainian Youth Cultural and Religious Centre in Brazil. Jacyk also supported various educational institutions, such as the Harvard University Ukrainian Research Institute and the Canadian Institute of Ukrainian Studies at the University of Alberta. Furthermore, the businessman founded and served as honorary president of the International Charitable Foundation “League of Ukrainian Patrons.”
In 1986, the entrepreneur founded the Petro Jacyk Educational Foundation. The goal of this organization is to support educational programs and academic centres at world-renowned universities aimed at the scholarly interpretation and dissemination of objective information about Ukraine and Ukrainians.
The renowned businessman and philanthropist passed away in Toronto in 2001, leaving behind a legacy as one of the most famous Ukrainian benefactors globally.
Petro Jacyk was not just an entrepreneur who lived and worked in Toronto. This man made a significant contribution to the development of Ukrainian education and culture in Canada.
We hope our material was informative and that you learned more about this well-known Toronto personality.