The Canadian government has announced a C$5.6 million investment to strengthen Black-owned businesses in Alberta through expanded training, mentorship, business advisory services and improved access to markets under its Black Entrepreneurship Program (BEP).
The funding was unveiled at the Black to the Future Summit in Edmonton by Eleanor Olszewski, Minister responsible for Prairies Economic Development Canada (PrairiesCan).
The investment will support three Alberta-based initiatives designed to help Black entrepreneurs start, grow and scale sustainable businesses while addressing longstanding barriers such as limited access to financing, mentorship, professional networks and business development services.
Announcing the initiative, Olszewski said Black entrepreneurs continue to make significant contributions to Alberta’s economy through innovation, enterprise and job creation.
She said the investment would help remove obstacles that have prevented many Black-owned businesses from reaching their full potential.
“By improving access to mentorship, business development services and professional networks, we are helping entrepreneurs build stronger businesses while making Alberta’s economy more competitive, innovative and resilient,” she said.
Canada’s Minister of Women and Gender Equality and Secretary of State for Small Business and Tourism, Rechie Valdez, described support for Black-owned businesses as a key pillar of the government’s inclusive economic growth strategy.
According to the government, the investment is expected to strengthen Alberta’s entrepreneurial ecosystem, create new employment opportunities and expand economic participation across Black communities.
The largest allocation, C$2.6 million, will go to the Council for the Advancement of African Canadians (Africa Centre), working with Canadian Imperial Advantage and The Nod Foundation to implement the ACT Project.
The province-wide initiative will provide culturally tailored business advisory services, capital readiness assessments, business incubation programmes, one-on-one coaching, digital technology training, market access support and commercialisation assistance for aspiring and established Black entrepreneurs.
Another C$1.5 million has been awarded to the BIPOC Foundation to expand its Founders Hub, which provides business planning, financial forecasting, mentorship, investor readiness support and market access programmes to accelerate the growth of Black-led enterprises.
The remaining C$1.5 million will support the Black Canadian Women in Action Society (BCW in Action) in expanding programmes for Black women entrepreneurs, focusing on business development, capacity building and advisory services to help participants establish and sustain successful businesses.
The Black Entrepreneurship Program is designed to improve access to capital while providing mentoring, networking, training and business advisory services for Black entrepreneurs across Canada.
Its Ecosystem Fund, administered through Canada’s regional development agencies, supports Black-led non-profit organisations that deliver entrepreneurship programmes. In Alberta, Saskatchewan and Manitoba, the initiative is managed by PrairiesCan.
The Canadian government estimates the latest investment will create approximately 280 jobs, support about 950 businesses, train 720 entrepreneurs and contribute to the creation, expansion or long-term sustainability of 302 businesses before the projects conclude in March 2030.
The announcement reinforces Canada’s commitment to building a more inclusive economy by ensuring Black entrepreneurs have greater access to the resources, skills and opportunities needed to grow successful businesses and contribute to long-term economic development.
Canada has previously supported inclusive development initiatives internationally. In 2022, the Canadian government announced a ₦2.6 billion commitment over four years to promote women’s political participation in Nigeria through the Advance Women Political Participation in Nigeria project.
