Ottawa Announces $3 Million in Funding for Black Entrepreneurs in Alberta

The federal government announced on Feb. 18 that it will provide $3 million in funding for black-led businesses and entrepreneurs in Alberta.

The new funding through Prairies Economic Development Canada (PEDC) includes $1.5 million for the African Canadian Civic Engagement Council to “empower Black youth and early stage entrepreneurs to launch and scale sustainable businesses and social enterprises.” The money will be used to provide training, mentorship, and guidance under the council’s ANZA Entrepreneurship Ecosystem program.

Additionally, $1.5 million is being provided for the Black Business Ventures Association, which aims to strengthen business supports for black entrepreneurs in the province that are “advancing innovative technologies.” The funding will be used to provide personalized coaching, enhance collaboration in the black entrepreneur ecosystem, and “increase visibility for Black-led technology driven businesses.”

“Through the Black Entrepreneurship Program [BEP], our government is breaking down barriers, unlocking capital, and ensuring more entrepreneurs have the tools and opportunities they need to succeed,” said Liberal MP and Secretary of State for Small Business and Tourism Rechie Valdez.

PEDC said the projects are expected to provide 250 employment and skills training opportunities.

The announcement represents the first $3 million of $15.2 million in renewed BEP Ecosystem Fund investments, according to PEDC.

On Feb. 3, Valdez also announced that in celebration of Black History Month, Innovation, Science and Economic Development Canada had announced a renewed $189 million investment in the Black Entrepreneurship Program.

Valdez said that since its launch in 2021, the BEP had supported more than 24,000 black entrepreneurs across Canada through mentorship, training, and networks. Through the Black Entrepreneurship Loan Fund alone, more than $70 million in financing has also been approved across more than 800 loans.

In September 2021, then-Prime Minister Justin Trudeau announced investments of up to nearly $221 million in partnership with Canadian financial institutions, including up to nearly $93 million from the Liberal government over the next four years, to launch the BEP. Trudeau said in a statement that the COVID-19 pandemic had “shone a light on the inequalities that disproportionately hurt Black Canadians,” and necessitated the economy being restarted in a “way that allows all Canadians an equal chance to succeed.”

Budget 2024 noted that since 2015, the Liberal government had committed $265 million for the BEP. Budget 2025 contained almost no new initiatives meant specifically for black Canadians, but detailed how policies like removing “assault-style” firearms, establishing a new Financial Crimes Agency, and strengthening anti-money laundering laws could help black and “racialised communities.”