Here is a reference directory for Black-owned businesses and entrepreneurs. We are proud of Black Canadians’ amazing achievements and contributions to the country’s future, and this guide can assist those with business goals. Even with fewer support networks and unequal access to resources, Black-owned businesses have persevered and thrived.
The first step in the road is to acknowledge that Black entrepreneurs confront systemic impediments to success. Funding possibilities for minority-owned firms, as well as mentorship and support programs for Black-owned enterprises, are critical. Running a business, especially a Black-owned business, is difficult; we know it, and therefore, we are here to help.
Here are some resources for Black entrepreneurs and those interested in starting their own business:
Black Entrepreneurship Fund
The Government of Canada, Black-led business organizations, and financial institutions collaborate on the Black Entrepreneurship Program (BEP). It will help Black Canadian company owners and entrepreneurs build their firms and prosper today and in the future with a $221 million investment over four years.
Applicants Who Qualify: Program elements include:
- National Ecosystem Fund — will support not-for-profit Black-led business organizations across the country in their capacity to give Black entrepreneurs support, mentorship, financial planning, and business training.
- The Black Entrepreneurship Loan Fund is a collaboration between the government, African-American-led businesses, and a number of financial institutions. It will provide Black company owners and entrepreneurs across the country loans of up to $250,000. The deadline will be announced later.
- The Black Entrepreneurship Knowledge Hub will study Black entrepreneurship in Canada. It will assist in identifying obstacles to success as well as growth opportunities. The Hub will be headed by the non-profit community and business organizations led by Black people in collaboration with educational institutions.
Submission Deadline: Ongoing
Contact
- Contact Name: Black Entrepreneurship Program
- E-mail Address: [email protected]
Aboriginal Entrepreneurship Program: Access to Business Opportunities
The Aboriginal Entrepreneurship Program (AEP) aims to boost the number of viable Indigenous-owned and controlled businesses in Canada. The AEP finances a wide range of entrepreneurial endeavours with the goal of increasing economic prospects for First Nations, Inuit, and Métis people by establishing partnerships that will develop capacity, decrease barriers, and increase access to capital.
The AEP has two streams, one of which is the Access to Business Opportunities Program. The Access to Capital stream is the other. They give funds to foster an entrepreneurial culture, expand access to business opportunities, and strengthen Indigenous business development groups’ capacity.
Applicants Who Qualify:
- Communities and governments of First Nations and Inuit peoples, including Tribal Councils
- Individuals who are indigenous
- Indigenous or non-Indigenous-owned organizations and groups, as long as they are not charitable or religious.
- Indigenous peoples own and govern businesses.
- Canadian-owned and controlled banks, credit unions, and trust organizations that are provincially or federally regulated and permitted to offer commercial loans
- Providers of private equity
- Crown corporations, either provincial or federal
- Governments of municipalities
- Organizations of workers
- Universities, colleges, and other educational establishments
Submission Deadline: No deadline
Contact
- Contact Name: Business Development Directorate
- Phone Number: 1-800-400-7677
- E-mail Address: [email protected]
Jobs and Growth Fund in Western Canada
The Jobs and Growth Fund helps businesses and organizations generate jobs and position local economies for long-term growth by providing funds. The Fund, which is administered by Canada’s regional development agencies (RDAs), will contribute $700 million over three years, with up to $70 million earmarked to enterprises founded after January 2020 that fit the criteria.
Applicants Who Qualify:
- companies (primarily small and medium-sized enterprises, fewer than 500 FTEs)
- charitable organizations; and
- First Nations, as represented by their Chief and Council, Tribal Councils, Indigenous Representative Organizations, Métis and Inuit organizations and settlements, and Indigenous/First Nation/Métis Settlement owned organizations are examples of indigenous organizations.
Submission Deadline: Ongoing. This is the estimated end date for project activities, which might be as late as March 31, 2024.
Contact
- Contact Name: Western Economic Diversification Canada
- Phone Number: 1-888-338-9378
- E-mail Address: [email protected]
Digital Skills for Youth Program
The Digital Abilities for Youth (DS4Y) programme was created to connect underemployed post-secondary graduates with small enterprises and non-profit groups so that they may put their skills to good use. The ultimate goal is to educate them for long-term employment in the rapidly changing digital economy. The DS4Y programme assists underemployed post-secondary graduates in combining relevant work experience with digital skills training through an internship, allowing them to successfully enter the workforce.
The DS4Y programme is part of the Government of Canada’s Youth Employment and Skills Strategy’s Career Focus component (YESS).
Applicants Who Qualify:
- Employers
Internships with the employer will provide the interns with new non-technical skills and digital expertise in one of the following fields:
- Development of software and video games
- Application development and coding
- Troubleshooting a network
- Technologies that adapt
- Website creation Online education
- Content creation for social media and other platforms
- Digital production
Criteria for Internship Eligibility
Interns must meet the following requirements to be considered for the programme:
- At the start of the internship, you must be between the ages of 15 and 30.
- finished post-secondary education
- Have legal permission to work in Canada
- You must be a Canadian citizen, permanent resident, or refugee in Canada.
- During the internship, you will not be covered by employment insurance (EI).
- Self-identify as underemployed, that is, employed below their educational level or working part-time.
- Not have participated in a Career Focus Digital Skills for Youth internship.
Submission Deadline: Ongoing
Contact
- Contact Name: Communautique
- E-mail Address: [email protected]
- Website: https://www.communautique.quebec/portfolio-items/digital-skills-for-youth-program/
Scientific Research and Experimental Development (SR&ED) Program
The Scientific Research and Experimental Development (SR&ED) Program is a federal tax incentive programme that encourages all sizes and sectors of Canadian enterprises to perform research and development (R&D) in Canada.
Applicants Who Qualify:
Corporations under Canadian control
- A refundable ITC at the increased rate of 35 percent can be earned by a Canadian-controlled private corporation (CCPC) on qualified SR&ED expenditures up to a maximum of $3 million. This 35 percent ITC is 100% refundable on qualified SR&ED expenditures incurred before 2014 and 40% refundable on approved SR&ED capital expenditures.
- On an amount beyond the $3 million thresholds, a CCPC can also earn a non-refundable ITC at the basic rate of 15%.
- A CCPC that fits the definition of a qualifying corporation can get a refundable ITC at a basic rate of 15% on amounts over $3 million, with 40% of the amount reimbursed.
Other businesses
- On qualified SR&ED expenditures, other corporations can obtain a non-refundable ITC at the basic rate of 15%. The ITC can be used to lower your tax bill.
Trusts and individuals
- On qualified SR&ED expenses, individuals (sole proprietorships) and trusts can earn a refundable ITC at the basic rate of 15%. The ITC must be applied against the tax due, and the remaining ITC can be returned up to 40% of the total.
A partnership’s members
- A partnership cannot receive an ITC because it is not a taxpayer. The ITC is generally calculated at the partnership level and subsequently distributed to qualified members (individuals, businesses, or trusts), although not necessarily to all members. We recommend that you read the SR&ED Claims for Partnerships Policy before submitting a partnership claim for SR&ED.
Submission Deadline: Ongoing
Contact
- Contact Name: Canada Revenue Agency
- Phone Number: 18009595525
Career Ready Program
Career Ready assists businesses by subsidizing their decision to engage a student for a work-term placement through the Government of Canada’s Student Work Placement Program (SWPP), TECHNATION’s wage subsidy programme. As a result, the student will have a satisfying opportunity to apply what they’ve learned in the classroom to real-world situations, putting them on the road to a successful career.
Those Who Qualify:
- Indigenous women studying STEM or business
- Minorities who are clearly visible
- Immigrants who have just arrived (within five years)
- Disabled persons
- Students in their first year of college or university or students in their second year of study
- First-year students (relevant to their field of study)
Students must be enrolled in a recognized Canadian post-secondary university and work in a tech-intensive profession, albeit they are not required to be studying technology.
Submission Deadline: Open
Contact
- Contact Name: ITAC Talent
- Phone Number: 905-602-8345
- E-mail Address: [email protected]
Science Horizons – Clean Tech Internship Program
The CICan Clean Tech Internship Program connects potential interns with eligible firms who are working to improve Canada’s environmental and economic outcomes. Clean technology is a broad category of employment and industries that spans numerous industries and sectors. The term “clean” relates to environmental issues such as sustainable development, greening industrial and agricultural processes, alternative energy and efficiencies, recycling/composting/waste reduction, and industry/businesses that are focusing on environmental advancements. Interns are part of a larger category of students known as science, technology, engineering, and math (STEM) students; the Tech portion of the moniker relates to technology. Internships in Clean Tech will involve work placements to improve innovations that address environmental concerns.
Applicants Who Qualify:
Employer:
- Corporations, industrial groups, and small or medium-sized enterprises (SMEs)
- Institutions of higher education
- Non-profit organisations (NGO)
- Aboriginal organizations and groups
- Local and municipal governments
- Governments, organizations, agencies, and Crown Corporations in the provinces and territories
Intern:
- Recent graduates with a post-secondary STEM degree (within the last three years) who are under 30 years old at the time of the internship
- Citizens, permanent residents, and people who have been granted refugee status in Canada
- Legally permitted to operate under applicable provincial and federal rules and regulations
- During their internship, they were not covered by insurance.
- For at least six months, you must be available to work.
Submission Deadline: Ongoing
Contact
- Contact Name: Colleges and Institutes Canada
- Phone Number: 613-746-2222
For more information, click here
Startup Global by Startup Canada
Startup Global (previously the Canadian Export Challenge) brings together a pan-Canadian cohort of entrepreneurs with a network of partners committed to their success.
Startup Global assists entrepreneurs in expanding globally. Workshops, bootcamps, pitch building, advisory support, digital resources, and more—all packaged in an accessible and easy-to-use portal—provide worldwide and exporting exposure.
Applicants who qualify: Startup Global assists entrepreneurs in expanding globally. Workshops, bootcamps, pitch building, advisory support, digital resources, and more—all packaged in an accessible and easy-to-use portal—provide worldwide and exporting exposure.
Deadline Date: Applications will open on June 1 and will close on September 1.
Contact
- Contact Name: Startup Canada
Apeetogosan (MÉTIS) Development Inc. & Pinnacle Business Services Ltd.
Apeetogosan (MÉTIS) Development Inc. and Pinnacle Business Services Ltd. provide equity help to small firms looking to startup or expand. The Métis Entrepreneurs’ Assistance Program is a grant for Métis, Inuit, and non-status individuals (MEAP).
Applicants Who Qualify:
- You must be an Alberta resident, and your company must be based in Alberta (forming a company in another province? For the phone number of the AFI in your province, contact the office.
- You must have 6 to 12 months of experience in the industry in which you are establishing your firm.
- A project must be a business startup or expansion.
- The applicant’s business must bring in at least $20,000 in annual revenue.
- For costs not covered by the grant and cash equity (if you have already acquired financing), the applicant must obtain financing from a commercial lender.
Please see the link below for more specific information on your eligibility.
Submission Deadline: Ongoing
Contact
- Contact Name: Apeetogosan (Métis) Development Inc.
- Phone Number: 780-452-7951 or 1-800-252-7963
- E-mail Address: [email protected]
Trans Canada
This Community Investment programme aims to help establish strong and vibrant communities across North America by partnering with community groups, funding local initiatives, and encouraging their workers to participate in neighbourhood improvements.
We give millions of dollars to over a thousand non-profits across North America every year. When it comes to community support, they concentrate on four essential areas:
Community: We’re dedicated to helping families, and small businesses succeed in strong, thriving communities. We work with community organizations to bring people together, build local leadership, and involve community members.
TransCanada supports education and training projects in the communities where we do business in order to assist improve community capacity, develop the next generation of community leaders, and ensure that our industry has a qualified workforce.
Environment: We place a high value on environmental protection. We collaborate with national and local groups in communities across North America to help maintain natural ecosystems, protect endangered species, and promote the value of a healthy environment.
The basis of all we do is a commitment to safety. We sponsor initiatives in communities around North America that help emergency professionals respond to local requirements and acquaint themselves with our operations so they can respond effectively in the event of an issue.
We are interested in supporting events, activities, and initiatives that:
- Make a positive difference in your town
- Provide possibilities for staff involvement.
- Encourage community participation.
Applicants Who Qualify:
- charitable organizations
- Registered charitable organizations
- Associations
- Foundations
Submission Deadline: Ongoing
Contact
- Contact Name: TransCanada
- Phone Number: 1.403.920.7855
Conclusion
The government of Ontario has announced new programmes to assist Black, Indigenous, and other racialized entrepreneurs in starting or growing their businesses. Over the next two years, the province will spend $5 million on the Racialized and Indigenous Supports for Entrepreneurs (RAISE) service and grant programme.
In a statement, Parm Gill, Ontario’s minister of citizenship and multiculturalism, stated, “Small companies are the backbone of our economy, but racialized entrepreneurs often face impediments to financing, market opportunities, and networks – crucial aspects that may make or destroy a firm.” “To build a stronger Ontario, we’re integrating racial equity into our economic recovery initiatives and long-term growth goals.”
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