The federal government is investing more than $3.2 million across three Manitoba organizations aimed at supporting Black entrepreneurship.
The news: On Wednesday, Minister of Women and Gender Equity Rechie Valdez announced more than $3.2 million in federal support for three Manitoba organizations supporting Black entrepreneurship. Delivered through Prairies Economic Development Canada’s (PrairiesCan) Black Entrepreneurship Program, the funding includes $1.5 million for the Black-Manitobans Chamber of Commerce, $1.25 million for Amicale de la Francophonie Multiculturelle du Manitoba (AFMM), and $500,000 for Rahma Community and Youth Centre.
From the source: Black Canadians are historically underrepresented in the entrepreneurial sector, with many facing systemic barriers. A 2023 Statistics Canada report shows that in 2018, there were an estimated 66,880 Black business owners in the country, accounting for 2.1 percent of all business owners. That contrasts with the more than 2.3 million white-owned businesses. In Manitoba, Black-owned businesses account for just 1.4 percent of businesses.
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Following the thread: The Black-Manitobans Chamber of Commerce will use its portion of funding to launch Ubuntu Forward, a business growth program providing cohort-based training, one-to-one advice, and networking opportunities. The AFMM, which provides business and entrepreneurship training to Black Francophones living in Manitoba, will also deliver cohort-based programming centred on training across management, finance, marketing, and digital transformation. The $500,000 going to Rahma Community and Youth Centre will support the creation and delivery of an entrepreneurship and business growth program for Black youth in Winnipeg aged 15 to 24.
Final thought: According to the Business Development Bank of Canada (BDC), roughly 2.3 percent of Canadian adults are entrepreneurs, while among Black adults that number is 1.3 percent. If that gap were closed, it would put tens of thousands more entrepreneurs into the Canadian ecosystem, generating revenue, jobs, and economic growth. BDC reports that over the coming decade, Canada’s Black population is poised to grow exponentially. Funding to reduce barriers helps ensure that growth is reflected among entrepreneurs, too.
BetaKit’s Prairies reporting is funded in part by YEGAF, a not-for-profit dedicated to amplifying business stories in Alberta.
Photo courtesy of the Black-Manitobans Chamber of Commerce.