The Government of Canada has announced the renewal of the Black Entrepreneurship Program (BEP) with a landmark $189 million investment. A bold step toward strengthening Canada’s economy and empowering Black entrepreneurs to start up, scale up, and thrive.
According to the government, this renewed investment underscores a national commitment to equity, inclusion, and prosperity. Ensuring that Black-owned businesses have the tools, networks, and resources needed to succeed in every corner of the country.
Launched in 2021, the Black Entrepreneurship Program has already helped thousands of entrepreneurs access financing, mentorship, and training to build sustainable businesses. This next phase of investment expands that momentum, reinforcing the program’s role as a catalyst for generational wealth creation and community resilience.
Through the renewal, the Government of Canada will invest strategically to ensure that supports are accessible, community-led, and built for long-term impact. A total of $100 million will go toward expanding resources, mentorship networks, and business accelerators across Canada, helping entrepreneurs connect with trusted advisors and peers who understand their unique journeys. Another $70 million will increase accessible financing administered by the Black community, for the Black community, ensuring that capital reaches those who need it most through organizations like the Federation of African Canadian Economics (FACE) and other community financial institutions. Additionally, over $7 million will be directed toward deepening research and data collection that inform future policy and program design, creating supports that drive measurable and lasting impact.
This renewed commitment recognizes the vital role Black entrepreneurs play in Canada’s economy. By breaking down systemic barriers and improving access to capital, networks, and knowledge, the program aims to level the playing field and unlock the full potential of Black-led innovation.
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