BDC, the bank for Canadian entrepreneurs, announced this week it is “expanding its commitment” to address anti-Black systemic racism and to support Black business owners by partnering with six new partners across Canada: Black Business Initiative (BBI) (Atlantic), Groupe 3737 (QC), Audace au Féminin (QC), Founders Fund (Ontario), Black Business Association of British Columbia (BBABC) (BC), and the Canadian Black Chamber of Commerce (CBCC).
“Our commitment is to ensure all entrepreneurs across Canada have access to the financing, advice, networks and resources they need to thrive,” said Michael Denham, president and CEO of BDC.
“We know Black entrepreneurs are making valuable contributions to their communities and our economy and that they face unique challenges in growing their businesses.”
The first collaboration will be a three-part webinar series for Black entrepreneurs called Stronger Together.
The goal of the webinar series, the BDC said, is to “deliver solutions to address the challenges research has shown are the biggest barriers for Black business owners.”
The topics to be discussed include financial literacy, e-commerce and networking.
The series, according to the BDC, will bring together a diverse pool of entrepreneurs who “can learn from one-another and connect on their experiences and entrepreneurial journeys.”
Ongoing, it added, the partners will collaborate on initiatives to support the Black business community and share information and insights.
“It’s important that we reach Black business owners across the country,” said Laura Didyk, vice president of client diversity at BDC. “By working with these regional and national partners, we can better understand the needs of entrepreneurs in each community.
“We still have lots of work to do but we are committed to listening and learning and working together to help Black business owners, and our economy, thrive.”
The announcement, the BDC said, builds on a “commitment to combat anti-Black racism and support Black business owners through initiatives” that include:
- The signing of the BlackNorth Initiative’s CEO Pledge which includes hiring at least 5% within the student workforce from the Black community and having at least 3.5% of executive and board roles being held by Black leaders by 2025.
- Supporting the Canadian Black Chamber of Commerce’s first study, Building Black Businesses in Canada.
- Sponsoring the Rise Up Pitch Competition which provided free workshops and resources to Black women entrepreneurs across Canada, plus $10,000 in capital to the winning entrepreneurs.
Further information on the newest initiative is available at bdc.ca.
