Today, the Honourable Rechie Valdez, Minister of Women and Gender Equality and Secretary of State (Small Business and Tourism), issued the following statement in celebration of Black History Month:
"Black entrepreneurs are building businesses, creating jobs and driving innovation in communities across Canada. Their success strengthens our economy and helps position Canada for long-term growth.
"That is why our government has renewed the Black Entrepreneurship Program, with a significant federal investment of $189 million. This funding is helping more Black entrepreneurs start, grow and scale their businesses, while continuing to address barriers to capital, networks and opportunity.
"Since its launch in 2021, the Black Entrepreneurship Program has already supported more than 24,000 Black entrepreneurs across the country through mentorship, training and financing. Through the Black Entrepreneurship Loan Fund alone, over $70 million in financing has been approved across more than 800 loans. The businesses benefiting from this support are creating jobs, expanding into new markets and contributing to a stronger Canadian economy.
"As we work to grow Canada's economy and diversify our markets in a changing global landscape, we are ensuring that Black entrepreneurs have the tools they need to compete, scale and succeed.
"This work recognizes the realities that many Black entrepreneurs continue to face, particularly Black women and 2SLGBTQI+ entrepreneurs, who often encounter compounded barriers when seeking to access capital and growth opportunities. During Black History Month, we reflect on the systemic barriers and anti-Black racism that continue to limit economic participation. Addressing these challenges is essential to building a fair and competitive economy that works for everyone.
"As Minister of Women and Gender Equality and Secretary of State for Small Business and Tourism, I remain committed to advancing economic inclusion and ensuring Black entrepreneurs have the support they need to succeed. When Black entrepreneurs thrive, communities thrive, and together, we will continue building a stronger Canada."
