TORONTO, Oct. 21, 2025 /CNW/ - FACE (Federation of African Canadian Economics) proudly celebrates the Federal government's announcement regarding the renewal of the Black Entrepreneurship Program (BEP), which encompasses a substantial investment of $189 million. This important announcement by Innovation, Science and Economic Development Canada (ISED) reflects a continued dedication to fostering inclusive economic growth and addressing systemic barriers faced by Black entrepreneurs across the country.
The renewal of the BEP powerfully affirms the ongoing need to provide Black entrepreneurs with equitable access to resources required to scale their businesses, fully participate in Canada's economic landscape, and contribute to the nation's robust, inclusive, and sustainable growth.
The renewal of the BEP by the Carney government will contribute $67 million to the Black Entrepreneurship Loan Fund (BELF). This increased support will significantly strenghten FACE's capacity to deliver critical capital to Black-owned businesses, empowering them grow, innovate and continue to make meaningful contributions to Canada's economy.
"The Black Entrepreneurship Program is a cornerstone example of how a country-- particularly a G20 nation -- can prioritize national prosperity through inclusion," says Tiffany Callender, CEO of FACE. "This $67 million investment sends a powerful message that Canada is committed to advancing economic equality for Black and underrepresented communities. As we look to the next cycle of this program, FACE remains dedicated to expanding our impact, equipping Black entrepreneurs and businesses with the vision and strategy they need – building a stronger, more inclusive Canada."
FACE extends its sincerest gratitude to the Government of Canada, ISED, and Minister Rechie Valdez for their leadership and vision. We also wish to recognize our ecosystem partners, corporate collaborators and community stakeholders who continue to work alongside us in our shared mission. Together, we are building pathways to generational wealth and economic empowerment for the Black Canadian community.
SOURCE The Federation of African Canadian Economics
For press related inquiries, please contact: Cleisha-Bernise Springer, Manager, Marketing and Communications, Federation of African Canadian Economics
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