August 11, 2021

Government of Canada invests nearly $8 Million to support Black entrepreneurs and businesses in Montreal

NEWS RELEASE

MONTREAL, August 11, 2021

The Honorable Steven Guilbeault announces financial assistance for Groupe 3737 and the Afro-Entrepreneurs Fund, two non-profit organizations run by members of black communities in Montreal.

Black-Canadian business owners and entrepreneurs make important contributions to the Canadian economy, yet they continue to face systemic racism and obstacles in starting and growing their businesses. This has been further exacerbated by the COVID-19 pandemic. The Government of Canada is working to address long-standing barriers with its first-ever Black Entrepreneurship Program (BEP)—an over $400 million investment to support the long-term success of Black entrepreneurs and business owners.

Today, The Honorable Steven Guilbeault, Minister of Canadian Heritage and Member of Parliament for Laurier – Sainte-Marie, accompanied by Emmanuel Dubourg, Member of Parliament for Bourassa, today announced, on behalf of the Honorable Mary Ng, Minister of Small Business, of Export Promotion and International Trade, that two organizations will receive $ 7,981,376 under the National Ecosystem Fund in Montreal.

Fonds Afro-Entrepreneurs in the ridding of Minister Guilbeault (Laurier--Sainte-Marie):

The recommended funding is $ 2,995,600.
The Fonds afro-entrepreneurs finances businesses run by entrepreneurs from black communities in Quebec. This investment fund was originally set up by the Quebec Ministry of Economic Development, Innovation and Export Trade now the Ministry of the Economy, Innovation and Trade (MEIE), in conjunction with Filaction. Its creation was the result of a government study conducted in 2006 on entrepreneurship in Black communities.
Fonds Afro-Entrepreneurs’ project aims to develop, consolidate and offer under the same roof specialized individual and group support services for entrepreneurs and businesses from Black communities in Quebec.

Groupe 3737 (FACE member) in the ridding of Prime Minister Justin Trudeau (Papineau):

The recommended funding is $4,985,776.
The project aims to improve Groupe 3737 coaching services for a period of three years (2021-2024). The project has three components: 1) individual or group coaching; 2) the entrepreneurial component of the Code 3737 program; and 3) the creation of a digital platform to offer online coaching tools and content to entrepreneurs.
The Deputy Minister / President, Canada Economic Development for Quebec regions has the delegated authority to approve this project but has to inform us of the funding decision.

The support is provided through the National Ecosystem Fund, which was created to strengthen the entrepreneurship ecosystem for Black entrepreneurs and business owners across Canada.

Quotes

“Black Canadian business owners and entrepreneurs make significant contributions to the Canadian economy and to communities around them, but continue to face systemic barriers. This investment to support Groupe 3737 and the Fonds Afro-Entrepreneurs of Montreal is an important step in helping entrepreneurs and business owners in black communities. The National Ecosystem Fund will support Black-led business organizations across the country so that they can better access capital, and offer mentoring, financial planning services, and business training to entrepreneurs and business owners. This is just one part of our whole-of-government approach to taking action against anti-Black racism.”

The Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade

“Through the National Ecosystem Fund, the Groupe 3737 and the Fonds Afro-Entrepreneurs will be able to expand existing initiatives or create new ones and provide critical support, services, and resources to Black Entrepreneurs and businesses in INSERT REGION. This important investment is another example of our government’s commitment to diversity and inclusion, while working to address systemic racism against Black Canadians.”

The Honourable Mélanie Joly, Minister of Economic Development and Official Languages

“I am delighted that with the help of our government, the Fond Afro-Entrepreneurs, located in my riding of Laurier – Sainte-Marie, but whose action affects entrepreneurs throughout Quebec, as well as the 3737 Group will be able to strengthen their services. Many entrepreneurs and businesses in black communities will benefit. "

The Honourable Steven Guilbeault, Minister of Canadian Heritage

"Thanks to the National Ecosystem Fund, the Afro-Entrepreneurs Fund will be able to develop tailor-made support so that the start-up and growth projects of entrepreneurs from black communities have the most efficient tools to ensure the sustainability, and the creation of quality jobs in their business. The need for this need arises from the findings of the Afro-entrepreneurs Fund, and its partner Filaction, in the financing and support of community businesses since 2008."

Jaël Elysée, Fonds Afro-Entrepreneurs

“The Black Communities Entrepreneurship Program is an important step in not only opening up capital, innovation and value-added job creation by black entrepreneurs and business owners in Canada, but also in all that relates to the support in coaching, mentoring and other supports essential to the entrepreneurs of this community. Synergistically with the other components of the Program, the Ecosystem Fund will allow organizations that support black entrepreneurs to improve their services and concretely strengthen the economic development engine that entrepreneurs represent. ) s black. Groupe 3737 is pleased to continue this important work alongside the federal government, which began in 2020 with the establishment and formalization of the Black Communities Entrepreneurship Program. "

Edgar Jean-François, CPA, CA, Chairman and CEO of Groupe 3737

Quick facts

The Black Entrepreneurship Program (BEP) is a partnership between the Government of Canada, Black-led business organizations, post-secondary or other accredited educational institutions and financial institutions.
Canada’s Regional Development Agencies deliver the BEP’s National Ecosystem Fund, and work with selected partner organizations to assist them in implementing their services.
The Black Entrepreneurship Program is an over $400 million investment including:
- up to $53 million for the National Ecosystem Fund to support Black-led business organizations across the country. It will help Black business owners and entrepreneurs access funding and capital and provide them with mentorship, financial planning services and business training. An additional $51.7 million for the BEP was provided in Budget 2021.
- up to $291.3 million in support through the Black Entrepreneurship Loan Fund, which will provide loans of up to $250,000 for Black business owners and entrepreneurs.
- Up to $6.5 million for the Black Entrepreneurship Knowledge Hub, which will conduct qualitative and quantitative research and collect data on the state of Black entrepreneurship in Canada and help identify Black entrepreneurs’ barriers to success as well as opportunities for growth.
Canada’s regional development agencies (RDA) are on the ground helping businesses weather the effects of the pandemic. With the measures recently proposed in Budget 2021, RDA continues to be a trusted partner to deliver targeted support in Montreal.

Associated links

Contacts

Alice Hansen
Press Secretary
Office of the Minister of Small Business, Export Promotion and International Trade
613-612-0482
[email protected]

Groupe 3737

Rose Carlie Mars
514-544-3737
[email protected]

Fonds Afro-Entrepreneurs

Jaël Elysée
514-525-2042
[email protected]