Black-led businesses in the Prairies are getting a boost to the tune of $3 million thanks to funding through the federal governmentâs Black Entrepreneurship Program (BEP).
Eleanor Olszewski, the minister responsible for Prairies Economic Development Canada (PrairiesCan) and Rechie Valdez, the secretary of state for small business and tourism, announced the funding as an effort to help Black entrepreneurs navigate the systemic barriers that they can face accessing business networks, capital, and growth and scaling opportunities.
âWe now know how to make the most impact with the Black entrepreneurs in our community.”
âBlack entrepreneurs and businesses are helping build Canada strong across Alberta, including right here in Edmonton,â Olszewski said in a press release. She added that the Black Entrepreneurship Program Ecosystem Fund aims to help remove barriers, expand opportunities, and build a stronger and more inclusive economy.
Two specific projects are receiving support: the Black Business Ventures Association (BBVA), a Prairies-based non-profit organization that amplifies and advocates for Black businesses and entrepreneurs, and the African Canadian Civic Engagement Council (ACCEC), a national organization based in Edmonton that empowers African-descent communities in Canada.Â
The BBVA received $1.5 million to strengthen support for Black entrepreneurs in Alberta with a focus on the tech and innovation space. Funding will go toward delivering personalized coaching, enhancing collaboration within the Black entrepreneur ecosystem, and increasing visibility for Black-led technology and businesses.
Dipo Alli, the executive director of the BBVA, said the $1.5 million is a renewed funding stream for the organization, having first received funding under the BEP in 2021. Alli said the money will help continue and bolster the support work the organization has already been doing.
âWe now know how to make the most impact with the Black entrepreneurs in our community. A lot of [the funding] is positioned to staffing, with resources for the team that is carrying out that work,â Alli told BetaKit.
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The ACCEC also received $1.5 million. The funding will be used to expand its ANZA Entrepreneurship Ecosystem: a program that aids Black youth and early-stage entrepreneurs in launching and scaling businesses and social enterprises.
âWhen Black youth succeed, they reinvest locally, create jobs, and advocate for a more equitable society, strengthening not only their communities but our entire economy.â Dunia Nur, president and CEO of ACCEC, said.
PrairiesCan said that, combined, the projects could provide more than 250 employment and skill-training opportunities.
The $3 million represents the first rollout of a larger $15.2 million investment from the BEP ecosystem fund, which PrairiesCan intends to deliver across Alberta, Saskatchewan, and Manitoba.
BetaKitâs Prairies reporting is funded in part by YEGAF, a not-for-profit dedicated to amplifying business stories in Alberta.
Photo courtesy of the African Canadian Civic Engagement Council.