The Black Entrepreneurship Program (BEP) is an initiative developed with the Black business community to help address systemic barriers faced by Black business owners and entrepreneurs. Through its three components, BEP provides targeted support to Black business owners and entrepreneurs to help improve access to capital and business support services (such as training, advisory services, mentoring and networking) and seeks to improve the quality and availability of data on Black entrepreneurship in Canada.
BEP was extended with an investment of $189 million over five years, as laid out in the 2024 Fall Economic Statement.
Components of the program
Black Entrepreneurship Loan Fund
The Black Entrepreneurship Loan Fund provides loans of up to $250,000 to Black business owners and entrepreneurs across the country to start, grow and maintain their businesses. The Loan Fund is administered by the Federation of African Canadian Economics (FACE), in partnership with the Business Development Bank of Canada.
- Visit FACE to apply
- Frequently asked questions
Ecosystem Fund
Delivered by the regional development agencies, the Ecosystem Fund supports not-for-profit Black led business organizations across the country in their capacity to provide support services such as mentorship, financial planning and business training for Black entrepreneurs.
Black Entrepreneurship Knowledge Hub
The Black Entrepreneurship Knowledge Hub conducts research on Black entrepreneurship in Canada to help identify barriers to success and opportunities for growth for Black business owners and entrepreneurs. The Knowledge Hub is led by Carleton University's Sprott School of Business and the Dream Legacy Foundation.
For more information
Canadians who would like to provide feedback or find out more information about the Black Entrepreneurship Program, please contact bep-pecn@ised-isde.gc.ca.
Related links
- Minister Valdez announces $189 million investment to help Black entrepreneurs start up, scale up, and build Canada’s economy
- Minister Ng announces the launch of the Black Entrepreneurship Loan Fund
- Prime Minister announces support for Black entrepreneurs and business owners
- Combatting systemic racism and discrimination in Canada: Canada's Anti-Racism Strategy 2024–2028
- Support for Community Organizations Helping Canadians
- Canada's Black Justice Strategy
- Consultation summary report: What we heard