Eligible organizations can now apply to the Black Entrepreneurship Program Ecosystem Fund to strengthen their services for Black entrepreneurs and businesses to build a stronger economy
TORONTO, Oct. 20, 2025 /CNW/ - The Government of Canada is focused on reducing barriers for Black Canadian entrepreneurs, helping them gain better access to capital and achieve long-term success for economic development and prosperity.
Today, the Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), announced that funding for eligible southern Ontario organizations is now available through the Black Entrepreneurship Program (BEP) Ecosystem Fund.
The Ecosystem Fund is a core component of the BEP. This renewed investment provides support for not-for-profit organizations to develop new or expand services such as mentorship, networking, financial planning and business training. With funding through 2030, the Ecosystem Fund will continue to support Black-led not-for-profit organizations in empowering Black entrepreneurs and businesses in southern Ontario to grow their companies now and into the future.
Supporting Canadian businesses from every community is how to build a strong Canadian economy. To learn more about the fund and how to apply, visit the Black Entrepreneurship Program Ecosystem Fund in southern Ontario.
Quotes
"As we celebrate Small Business Week, we celebrate our entrepreneurs and business owners who are the heart of our economy. The Government of Canada's Black Entrepreneurship Program Ecosystem Fund is an important resource for Black-led businesses and organizations here in southern Ontario. Together, we are helping build a more inclusive and resilient entrepreneurial ecosystem, one that empowers innovation, strengthens communities, and ensures one economy for all."
- The Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario
"The strength of Canada's economy comes from the talent and tenacity of our people. When Black entrepreneurs can access capital, mentorship and reliable data, they turn ideas into jobs and community prosperity. This $189 million investment to renew the Black Entrepreneurship Program will help more Black entrepreneurs start up, scale up and build a stronger economy for all Canadians."
- The Honourable Rechie Valdez, Minister of Women and Gender Equality and Secretary of State (Small Business and Tourism)
Quick facts
- The Black Entrepreneurship Program (BEP) provides $189 million over five years to continue to provide financing and advisory services to Black entrepreneurs across the country, as well as data and research on the challenges and opportunities for Black entrepreneurs and business owners. It includes three components:
- up to $105.4 million allocated to the RDAs to continue delivering the Ecosystem Fund across Canada, and
- up to $7.5 million allocated for the Black Entrepreneurship Knowledge Hub, for research to improve the quality and availability of data on the Black entrepreneurship ecosystem in Canada; and
- up to $67 million allocated for the Black Entrepreneurship Loan Fund to provide loans of up to $250,000, in collaboration with the Business Development Bank of Canada, to Black business owners and entrepreneurs across the country.
- Visit FedDev Ontario's website to learn more about the Ecosystem Fund in southern Ontario.
- BEP has made a tangible difference across the country, providing support to more than 24,000 Black entrepreneurs and approving 801 loans representing more than $70.6 million.
Associated links:
- Black Entrepreneurship Program Ecosystem Fund in southern Ontario
- FedDev Ontario
- Black Entrepreneurship Program
- Minister Valdez announces $189 million investment to help Black entrepreneurs start up, scale up, and build Canada's economy
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SOURCE Federal Economic Development Agency for Southern Ontario
Contacts: Sofia Ouslis, Press Secretary, Office of the Minister of Artificial Intelligence, Digital Innovation and the Federal Economic Development Agency for Southern Ontario, [email protected]; Media Relations, FedDev Ontario, [email protected]
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