JUST ANNOUNCED: Canada’s 1st ever Black Entrepreneurship Program, an investment of up to nearly $221 million (up to $93 million from our government and up to $128 million committed in lending capital from financial institutions)

We know that many Black entrepreneurs and business owners continue to face systemic barriers to equal economic participation and success, and have been disproportionately affected by the COVID-19 pandemic.

There are 3 main components to the Program:

  • a new National Ecosystem Fund to support Black-led business organizations across the country in their capacity to provide funding and capital, mentorship, financial planning services, and business training for Black entrepreneurs.
  • a new Black Entrepreneurship Loan Fund that will provide loans for Black entrepreneurs via Black-led business organizations, which includes commitments from partnering financial institutions to make up to $128 million available in lending capital.
  • a new Black Entrepreneurship Knowledge Hub that will collect data on the state of Black entrepreneurship in Canada to better inform policy-making.

Together, along with Black-led business organizations, Black Entrepreneurship Program will provide targeted support for thousands of Black business owners and entrepreneurs across the country – helping them recover from COVID-19 and thrive for years to come.