Minister Olszewski highlights funding available to support Black-led businesses and entrepreneurs in the Prairies

Eligible organizations can seek funding through Black Entrepreneurship Program Ecosystem Fund

EDMONTON, AB, Oct. 24, 2025 /CNW/ - Black entrepreneurs and small business owners face systemic barriers that limit their access to the capital and resources needed to grow their businesses and bring their ideas to market.

Minister Olszewski highlights funding available to support Black-led businesses and entrepreneurs on the Prairies (CNW Group/Prairies Economic Development Canada)

Today, the Honourable Eleanor Olszewski, Minister of Emergency Management and Community Resilience and Minister responsible for Prairies Economic Development Canada (PrairiesCan) announced $15.2 million in funding over five years for the Black Entrepreneurship Program Ecosystem Fund on the Prairies. This new funding will strengthen support for not-for-profit organizations that serve Black-led businesses and entrepreneurs, enabling those organizations to expand services such as mentorship, networking, financial planning and business training.

The Government of Canada is committed to reducing barriers for Black entrepreneurs, helping them gain better access to capital and achieve long-term success.

The Ecosystem Fund is a key part of the Black Entrepreneurship Program, which was recently extended with an additional $189 million in funding through 2030. The Ecosystem Fund will empower these organizations to build stronger local business ecosystems, ensuring that Black entrepreneurs on the Prairies have the support they need to start, grow and succeed.

Black-led not-for-profit organizations supporting the development or expansion of services such as mentorship, networking, financial planning and business training for Black entrepreneurs are eligible to apply. To learn more about the fund and how to apply, visit the PrairiesCan website.

Quotes

"Building Canada strong means making sure every entrepreneur has a fair shot. That's why our government is renewing support for the Black Entrepreneurship Program -- to help more Black-owned businesses across the Prairies grow, thrive, and create good jobs. Black entrepreneurs and businesses make vital contributions to our economy and our communities, including here in Edmonton, and supporting their success helps create opportunities for everyone."
–The Honourable Eleanor Olszewksi, Minister of Emergency Management and Community Resilience and Minister responsible for Prairies Economic Development Canada (PrairiesCan)

"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 nearly $190 million over five years to support:
  • Ecosystem Fund: support for not-for-profit organizations across the country in providing business support services to Black entrepreneurs and business owners.
  • Loan Fund: loans of up to $250,000, in collaboration with the Business Development Bank of Canada, to Black business owners and entrepreneurs across the country.
  • Knowledge Hub: research to improve the quality and availability of data on the Black entrepreneurship ecosystem in Canada.
• The Ecosystem Fund is a core component of the Black Entrepreneurship Program (BEP). It strengthens the Black entrepreneurship ecosystem by enabling Black-led not-for-profit organizations to provide incubator and accelerator programs, mentorship, financial planning, and business development support, helping Black entrepreneurs grow and succeed.
• BEP has made a tangible difference in supporting Black business owners across the country, providing ecosystem support to over 24,000 businesses and approving more than 800 loans totalling $70.6 million.

Associated links

• Prairies Economic Development Canada
• Black Entrepreneurship Program (BEP) Ecosystem Fund in the Prairie provinces
• Black Entrepreneurship Program
• Ecosystem Fund
• Minister Valdez launch of Black Entrepreneurship Program

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Toll-Free Number: 1-888-338-9378 
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SOURCE Prairies Economic Development Canada

Contacts: Soraya Lemur, Press Secretary, Office of the Hon. Eleanor Olszewski, Minister of Emergency Management and Community Resilience and Minister responsible for Prairies Economic Development Canada, [e-mail], 343-574-6781; Media Relations, Prairies Economic Development Canada, [e-mail]