Canadian Prime Minister Announces $221 Million Program For Black Entrepreneurs
A new federal program has been announced in Toronto by Canadian Prime Minister Justin Trudeau. Canada’s first-ever Black Entrepreneurship Program is now happening. The program will allow Black Canadians who want to start or expand a business to have access to loans, training and mentorship. Thousands of Black entrepreneurs and business owners across the country will have assistance recovering from the coronavirus pandemic and grow their businesses.
In 2018, an organization called Hxouse based in Toronto was founded by award-winning recording artist The Weeknd, Forbes 2017 30 Under 30 honoree La Mar Taylor and Influencers PR founder Ahmed Ismail. The new national program is set to provide young creatives get funding and business loans with national banks.
Prime Minister Trudeau recently announced at the Hxouse headquarters that an investment of $221 million will be set in place to help Black business owners and entrepreneurs who are working towards improving Canada’s economy, including $93 million that, for the next four years, will be invested in Canada’s Black Entrepreneurship Program that will help businesses recovering from the pandemic.
“As we move forward, this program will help support Black entrepreneurs and create new opportunities for Black-owned businesses, so they are well-positioned for our economic recovery,” Trudeau said when announcing the investment.
Feature Image via Revolt TV