Canada Invests $5.6M To Expand Support For Black Entrepreneurs In Alberta

The investment was announced June 26 and the funding is part of the Black Entrepreneurship Program

The government is investing $5.6 million to expand resources for Black entrepreneurs in Alberta, Canada, by funding three organizations that will provide business training, mentorship, and advisory services to help more entrepreneurs launch and grow their companies, Yahoo Finance reports.

The investment was announced June 26 by Eleanor Olszewski, Canada’s minister responsible for Prairies Economic Development Canada, during the Black to the Future Summit in Edmonton. Federal officials said the funding is part of the Black Entrepreneurship Program, a national initiative created to help address longstanding barriers Black business owners face in accessing financing, mentorship, and professional networks.

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The largest award, $2.6 million, will go to the Council for the Advancement of African Canadians, also known as Africa Centre, in partnership with Canadian Imperial Advantage and The Nod Foundation. The organizations will expand ACT, a provincewide initiative that provides coaching, business advisory services, digital skills training, and support for entrepreneurs seeking investment and new market opportunities.

The BIPOC Foundation will receive $1.5 million to expand its Founders Hub, which offers business planning, financial forecasting, mentorship, and investor readiness programming. Black Canadian Women in Action Society will receive an additional $1.5 million to strengthen entrepreneurship programs focused on Black women across Alberta.

“Black entrepreneurs and businesses are leaders in Alberta’s economy,” Olszewski said. “Their innovation and determination create jobs, drive growth, and strengthen communities across the province. The Government of Canada is proud to work with the organizations receiving funding today to help remove barriers to success and ensure more Black entrepreneurs have the tools, networks, and opportunities they need to start, grow, and scale their businesses.”

According to Prairies Economic Development Canada, the investment is projected to support approximately 950 businesses, train 720 participants, help create, maintain, or expand 302 businesses, and generate an estimated 280 jobs across Alberta.

The announcement builds on Canada’s broader Black Entrepreneurship Program, a federal initiative launched to strengthen Black-owned businesses through ecosystem funding, research, and access to capital.

Officials say the program is designed to expand economic opportunities while supporting long-term business growth in Black communities across the country.