Yesterday, the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), announced an investment of over $1.3 million for the Federation of Black Canadians (FBC) so it can enhance its services to support and mentor more Black youth and young adult entrepreneurs.
With this investment through the Black Entrepreneurship Program (BEP) Ecosystem Fund, the FBC will provide tools and resources to 170 Black youth entrepreneurs across multiple regions, including the Greater Toronto Area, Montréal and Edmonton, supporting them to successfully launch and grow their businesses.
As part of this project, the FBC will work in collaboration with University of Toronto Scarborough, the BRIDGE, the Black Founders Network and other partners to research and survey the Black community in Ontario, Alberta and Quebec to determine the needs, obstacles and structural challenges faced by Black youth entrepreneurs and design tailored programming based on findings.
Yesterday’s investment will support the creation of 70 full-time jobs and reinforce the Government of Canada’s commitment to uplifting Black entrepreneurs in Canada. Including this announcement, the Government of Canada has announced over $50 million for 23 Black-led not-for-profit organizations through the BEP Ecosystem Fund in southern Ontario. These investments play a crucial role for so many small businesses across southern Ontario as they provide the means necessary to help them to grow.
“The Federation of Black Canadians will provide a vital platform for young Black entrepreneurs to develop, launch and scale-up their businesses with the investment announced today. Our government recognizes the important role these services play, and we will continue to work to ensure the next generation of Black entrepreneurs have access to the tools, mentorship and resources they need to grow the economy, create good jobs and build thriving communities.” – The Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario
For more information, please see news release.