A new ecosystem mapping tool is currently being developed by the Black Entrepreneurship Knowledge Hub (BEKH) to support Black entrepreneurs to start and scale up their businesses.

According to Rechie Valdez, Minister of Small Business, “building  an inclusive economy means building a stronger economy. The Black Entrepreneurship Knowledge Hub’s ecosystem map will help Black-owned businesses improve their visibility, foster greater collaboration and access new data to grow and succeed.

“Through programs like the Black Entrepreneurship Program, we are making sure Black-owned businesses from coast to coast to coast have the supports they need to succeed.”

The mapping tool will allow Black-owned businesses to access resources, support and opportunities, as well as boost their profile among customers and investors so that they can grow and succeed.

It will also develop data that may be used stimulate future programs and support Black-owned businesses across Canada.

The ecosystem mapping tool is expected to be fully operational early next year.

According to government data, the Black Entrepreneurship Program (BEP) has approved almost $50 million in loans to Black-owned businesses.

It has also helped almost 9,000 Black entrepreneurs access mentorship, business training and financial planning advice so they can grow their businesses.