Black entrepreneurs across Alberta and other parts of Canada continue to encounter persistent barriers when it comes to accessing financing, mentorship, and professional networks, according to federal officials who say those gaps have slowed business creation and expansion. Addressing those challenges, the Government of Canada has announced new targeted funding designed to strengthen support systems for Black business owners and improve their access to economic opportunities.
The announcement was made at the Black to the Future Summit in Edmonton, where the Eleanor Olszewski, Minister responsible for Prairies Economic Development Canada, unveiled a $5.6 million investment for three Alberta based initiatives. The funding is intended to expand training, advisory services, and business development supports for Black entrepreneurs at various stages of growth.
A major share of the investment, $2.6 million, will go to a province wide initiative known as ACT, led by the Council for the Advancement of African Canadians, also known as the Africa Centre, in partnership with the Canadian Imperial Advantage and The Nod Foundation. The project is designed to address structural challenges facing Black owned businesses and will provide services ranging from business advisory support and capital readiness assessments to incubation, coaching, digital technology training, and market access preparation.
Another recipient, the BIPOC Foundation, will receive $1.5 million to expand its Founders Hub programming. The initiative will focus on improving business readiness and supporting scaling efforts through training in business planning, financial forecasting, mentorship, investor preparedness, and market access strategies. Officials say the expanded programming is intended to help accelerate the growth of Black led enterprises across the province.
The Black Canadian Women in Action Society will also receive $1.5 million to strengthen support for Black women entrepreneurs. The funding will be used to enhance business development services, expand advisory resources, and provide skills training aimed at helping participants launch, scale, and sustain enterprises in a competitive marketplace.
Speaking at the summit, Olszewski said Black entrepreneurs play a central role in strengthening local economies. “Black entrepreneurs and businesses are leaders in Alberta’s economy. Their innovation and determination create jobs, drive growth, and strengthen communities across the province,” she said, adding that reducing barriers is essential for long term economic resilience.
Rechie Valdez, Minister of Women and Gender Equality, also highlighted the importance of inclusive support systems, stating that “Canada and Alberta are stronger when entrepreneurs have the tools they need to succeed.”
The funding falls under the Black Entrepreneurship Program, a federal initiative aimed at improving access to capital and business services including mentoring, training, and networking opportunities. Its Ecosystem Fund supports not for profit Black led organisations that deliver these services, with Prairies Economic Development Canada overseeing delivery in western provinces.
According to government projections, the supported projects are expected to contribute to the creation of 280 jobs, support 950 businesses, train 720 participants, and help 302 businesses either launch, expand, or remain operational. Officials say the broader goal is to strengthen participation of Black entrepreneurs in Canada’s economy and support long term growth.
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