Becoming a Black Entrepreneur in Atlantic Canada

Ending African Heritage Month on a High Note

Volta, along with the Black Business Initiative (BBI), is proud to present our final article celebrating African Heritage Month in 2023. Throughout February, we talked about The Past of Black Entrepreneurship in Atlantic Canada, The Present of Black Entrepreneurship in Atlantic Canada, and The Future of Black Entrepreneurship in Atlantic Canada. 

We have taken a bird's eye view of the state of Black entrepreneurship in Atlantic Canada, have dived deep into the rich history of Black entrepreneurship in our region, and have taken the time to consider what challenges and opportunities lay ahead of aspiring Black entrepreneurs. To conclude this series we will be sharing resources and advice specific to the Black community in our region. 

Resources for Becoming a Successful Black Entrepreneur in Atlantic Canada

"The biggest challenge for Black entrepreneurs is being aware of the business resources and the funding opportunities available to them. The biggest opportunity for Black entrepreneurs in Atlantic Canada is that there is an ecosystem of support in Atlantic Canada through different pan-Atlantic organizations and provincial organizations" says Precious Familusi, Entrepreneurship Engagement Manager at BBI (Newfoundland and Labrador/P.E.I.).

Black entrepreneurs in Atlantic Canada face unique challenges in starting and growing their businesses however, there are numerous resources available to support them in overcoming these obstacles and reaching their goals. Here are some of the best resources for Black entrepreneurs in Atlantic Canada:

1 - Black Business Initiative (BBI) and their Atlantic Canada Black Entrepreneurship Ecosystem Program

The BBI is a non-profit organization dedicated to promoting and supporting Black entrepreneurship in Atlantic Canada. The organization offers a variety of programs and services, including business mentorship, networking events, and access to funding and resources.

"A new era is upon Black entrepreneurs in Atlantic Canada with the Black Business Initiative now operating in all Atlantic Provinces. It has opened doors for Black business owners to take their businesses to the next level with the services offered through BBI" says Rodger Smith, Entrepreneurship Engagement Manager at BBI. 

The Atlantic Canada Black Entrepreneurship Ecosystem Program, run by BBI, is a comprehensive program designed to support Black entrepreneurs in Atlantic Canada. The program provides Black business owners with access to mentorship, training, funding, and other resources to help them start, grow, and scale their businesses. The program also works to build a strong ecosystem of support for Black entrepreneurship in Atlantic Canada by connecting Black entrepreneurs with each other and with resources and opportunities in the region.

2 - Tribe Network's Black Startup Project

The Black Startup Project by Tribe Network is a program aimed at supporting Black entrepreneurship in Atlantic Canada. The program provides Black entrepreneurs with access to mentorship, training, funding, and other resources to help them start, grow, and scale their businesses. Through the Black Startup Project, Tribe Network aims to create a supportive ecosystem for Black entrepreneurship and help Black entrepreneurs overcome the systemic barriers they face to achieve success in the business world.

3 - BKR Capital  

BKR Capital is committed to supporting Black entrepreneurs in Canada. The company offers financial products and services specifically designed to meet the needs of Black-owned businesses, including flexible loan options, personalized support, and access to a network of mentors and advisors. BKR Capital works to help Black entrepreneurs overcome the challenges they face and achieve success in the business world.

4 - BDC's Programs for Black Entrepreneurs 

The Business Development Bank of Canada (BDC) is committed to supporting Black entrepreneurs through a range of financing options, as well as advice and support services to help Black entrepreneurs start, grow, and scale their businesses. BDC also offers specialized programs and services designed to support Black entrepreneurship in partnerships with other organizations such as Futurpreneur and FACE. 

5 - Black Entrepreneur Startup Program by Futurpreneur

The Black Entrepreneur Startup Program by Futurpreneur is a comprehensive program designed to support Black entrepreneurs in starting and growing their businesses. The program provides young Black entrepreneurs with access to mentorship, training, funding, and resources to help them succeed. This includes business coaching, access to a network of successful entrepreneurs, and access to financing options such as micro-loans and start-up financing.

6 - RBC Black Entrepreneur Program

The RBC Black Entrepreneur Program is an initiative aimed at supporting Black entrepreneurship in Canada. The program offers Black entrepreneurs access to business advice, mentorship, and funding through RBC's network of business experts and financial specialists. The program also provides access to educational resources, networking opportunities, and other support to help Black entrepreneurs grow and succeed.

7 - Black Entrepreneurship Loan Fund by FACE

The FACE (The Federation of African Canadian Economics) Coalition is a Canadian organization that provides financial support to Black entrepreneurs. The coalition offers a loan program specifically designed to meet the needs of Black-owned businesses, providing them with access to affordable financing to start or grow their enterprises. 

8 - Black Opportunity Fund

The Black Opportunity Fund is a Canadian organization that provides investment capital and support to Black entrepreneurs and businesses. The fund invests in Black-owned businesses, providing them with the resources they need to grow and succeed. By supporting Black entrepreneurship, the Black Opportunity Fund aims to promote economic growth and equality in the Black community and help to address the systemic barriers faced by Black business owners.

Conclusion

There are many resources available to support Black entrepreneurs in Atlantic Canada. By taking advantage of these resources, entrepreneurs can access funding, mentorship, and networking opportunities that can help them grow their businesses and achieve success.

We hope you found this series to be inspirational and informative. Our goal was to highlight all the wonderful work being done by Black entrepreneurs as well as the efforts being put in place to support them. At Volta, we see that our community is working together towards the dream of propelling Atlantic Canada to thrive socially and economically, and we believe that in order to achieve that dream we must provide everyone with equal opportunities to succeed. Raising awareness of the state of Black entrepreneurship in Atlantic Canada is only one very small piece of the puzzle, but if by doing this we are able to inspire 1 Black entrepreneur to follow their dream then we'll know we are on the right track.