Canadian government announces more than $15M for Black businesses in the Prairies

The federal government is spending millions of dollars to support Black businesses in the Prairies.

Canada’s federal government announced major funding for Black businesses in the Prairies, committing $15.2 million in funds over five years to the Black Entrepreneurship Program (BEP) Ecosystem Fund.

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Eleanor Olszewski, minister of Emergency Management and Community Resilience and the minister responsible for Prairies Economic Development Canada (PrairiesCan), made the announcement at the Africa Centre in Edmonton on Friday.

She said the money will help not-for-profit organizations deliver training, services and other supports to Black-led businesses and entrepreneurs, enabling them to grow and succeed.

“We will cater to the unique needs of Black entrepreneurs across the Prairies, and we’re really delivering the fund in a way that reflects local priorities and strengths in our local communities,” Olszewski said, adding that the community still faces barriers like racism, discrimination and lack of access to capital, resources and opportunities.

Friday’s announcement comes as an extension to one earlier this week, when the federal government announced $189 million in funding throughout the country through 2030 to the BEP.

According to the minister’s office, there are approximately 247,000 Black people living in the Prairies, which makes up about 3.7 per cent of the population in the region.

Nshuti Byamungu is the founder of Lumiere Disability Services, which is an Alberta-based agency that focuses on “cultural responsiveness and inclusion” by employing people of diverse backgrounds and providing support to people with developmental disabilities in the province.

Byamungu grew up in the Democratic Republic of Congo. He and his family spent nearly a decade living as refugees before coming to Canada. He said his vision to help the community with compassion was made possible through funding.

“When you invest in us, you don’t just invest in entrepreneurs, you are investing in community builders, job creators and a future of a country that truly affects the diversity and innovation of its people,” Byamungu said following the Minister’s announcement.

Funding through BEP is divided into three streams:

• the Ecosystem Fund;
• the Loan Fund, which provides loans to small and medium businesses, in collaboration with the Business Development Bank of Canada; and
• the Knowledge Hub, which researches and tries to improve the quality of data on Black entrepreneurship to help serve the community better.

Canadian officials say BEP has supported more than 24,000 businesses and approved more than 800 loans totalling $70.6 million.

More information about the Ecosystem Fund and how to apply can be found on the PrairiesCan website.

With files from CTV News Edmonton’s Brandon Lynch