While all businesses in Canada have felt the pressure of the COVID-19 pandemic, black-owned ones have been hit considerably harder due to the inequalities they face on a daily basis. Anti-Black racism, discrimination, and prejudice have resulted in many Black business communities being disconnected from mainstream supports and aid, including the Canada Emergency Business Account (CEBA), and other key government measures. While our government has worked hard on addressing systemic inequalities and speaking out against racism and intolerance, there is still much work ahead of us.

Yesterday, The Prime Minister, along with Minister Mary Ng, MP Greg Fergus, MP Gary Anandasangaree, and MP Adam Vaughan announced an investment of up to nearly $93 million over the next four years to launch Canada’s first-ever Black Entrepreneurship Program (BEP). The BEP is comprised of three elements: a National Ecosystem Fund for organizations that support Black entrepreneurs, a loan fund to provide financing for Black entrepreneurs and business owners, and a knowledge hub that will help fill gaps in data and knowledge about Black entrepreneurship. As our economy restarts, this program will help Black entrepreneurs across Canada innovate, grow their businesses and thrive in the months and years to come.

Our government will continue to support all small business owners and entrepreneurs across the country while continuing to combat racism, discrimination, and hatred in all its forms. Together, we can work toward building a more inclusive and equitable future for all Canadians.