Why Become a Black Entrepreneur?
To be an entrepreneur means to take your destiny into your own hands and to be in control of your future. Bringing your ideas to life through planning and careful execution, and freedom of expression are some of the benefits of being an entrepreneur and running your own business. It’s not always an easy road, but the journey is full of learning experiences and opportunities to grow. All thriving economies need small businesses, and as we build a resilient business community today, we lay the foundation for a strong business ecosystem for the next generation.
Business Resources for Black Entrepreneurs
Black Business Association of BC
BBABC’s mission is to develop your leadership skills. From managers in the private and public sector, to entrepreneurs, and small business owners, they have something for you. Through a diversified selection of training materials, courses, and resources, pick and choose what you need to develop your skill set. Make an investment in yourself.
Resources:
Black Entrepreneurship Program
The Black Entrepreneurship Program (BEP) is a partnership between the Government of Canada, Black-led business organizations, and financial institutions. With an investment of up to $221 million over four years, it will help Black Canadian business owners and entrepreneurs grow their businesses and succeed now and into the future.
Update: Minister Ng provides latest on Black Entrepreneurship Program
Components of the Program:
Canadians who would like to provide feedback or find out more information about the Black Entrepreneurship Program, please contact [email protected].
The Federation of African Canadian Economics
The Federation of African Canadian Economics (FACE) are responsible for administering the Black Entrepreneurship Loan Fund, a component of the Black Entrepreneurship Program (BEP). The BEP is a partnership between the Government of Canada, Black-led business organizations and financial institutions.
The Fund will provide loans of up to $250,000 to support Black business owners and entrepreneurs across Canada and lay the foundation for future success and long-term change.
The SBCCI (Supporting Black Canadian Communities Initiative) Fund
The Tropicana Community Services is an intermediary for the Federal government through which grants to the Black community including businesses are dispersed. Provide funding to allow the selected organisations to increase financial support, gain greater organizational stability, and improve their leadership, communication, transparency, and growth. Support the selected organisations in improving their volume of the work they currently do, thus enhancing the vitality of their sector and building community capacity. Assist the selected organisations in addressing and finding solutions to provide greater inclusiveness of the diverse Black communities they offer their services to and or work with.
Black Business Initiative
The Supporting Black Canadian Communities Initiative (SBCCI) was created by the Federal government through Employment and Social Development Canada (ESDC) to help increase the capacity of Black-led grassroots and not-for-profit organizations that serve Black communities in Canada. With an aim to increase access to funding and to provide funding to increase organizational capacity, the Government of Canada will be releasing 10.4 million dollars in funding over the next four years.
The Black Business Initiative was selected as one of the three intermediary organizations to deliver the program. Using an intermediary delivery model, the initiative aims to provide funding through a fair and transparent process, and otherwise support Black community organizations across Canada to increase their organizational capacity.
Canada Black Owned Business & Black Entrepreneurs Directory – Afrobiz
We are the largest Black owned Business Directory in Canada and growing rapidly all over North America. AfroBiz.ca was created to support Black owned businesses and Black entrepreneurs. It is the best way to find Black owned businesses in your local area and all over North America! AfroBiz.ca is self funded and currently home to more than 4000 Black owned businesses, Black entrepreneurs and Black organizations in Canada.
The Black Opportunity Fund (BOF)
Established in 2020, The Black Opportunity Fund (BOF) is a dynamic partnership between businesses, philanthropists, foundations, and the Black community to combat the impact of anti-Black racism in Canada. The fund will catalyze the cultural, economic, and political growth required to enable Canada’s institutions, governments, and businesses to embrace greater diversity at all levels. The fund will broadly prioritize initiatives around education, healthcare, youth, women, social justice, immigration, technology, entrepreneurship, and politics that impact the quality of life in the Black community.
Black North Initiative
Led by The Canadian Council of Business Leaders Against Anti-Black Systemic Racism, The BlackNorth Initiative is on a mission to end anti-Black systemic racism throughout all aspects of Canadian life by utilizing a business first mindset.
Small Business BC is Here to Help
SBBC is a non-profit resource centre for BC-based small businesses. Whatever your idea of success is, we’re here to provide holistic support and resources at every step of the journey. Check out our range of business webinars, on-demand E-Learning Education, our Talk to an Expert Advisories, or browse our business articles.
