INCLUSIVE ENTREPRENEURSHIP
The phenomenal entrepreneurial potential of marginalized Canadians has been severely limited by issues of anti-Black racism, colonization, and systemic racism in Canada, high unemployment rates, an un-supportive entrepreneurial ecosystem, and more. The Office of Senator Colin Deacon's Inclusive Entrepreneurship series analyzes the best practices for catalyzing the entrepreneurial potential of marginalized populations in Canada, through a continuing series of papers exploring the existing challenges and opportunities needed to make substantive improvements in this regard.
REPORT RELEASE — INCLUSIVE ENTREPRENEURSHIP: PROGRESS ON BLACK ENTREPRENEURSHIP INITIATIVES
February 29th, 2024
The report, "Progress of Black Entrepreneurship Initiatives”, by Senator Amina Gerba and Senator Deacon, seeks to take stock of the various initiatives designed to support Black entrepreneurs, to assess their impacts, and to explore areas for enhancement. The findings in the report stem from insights shared by organizations involved in the federal government’s Black Entrepreneurship Loan Fund (BELF), by some of the ‘Big Six’ banks, and by other organizations advancing Black entrepreneurship initiatives.
REPORT RELEASE — INCLUSIVE ENTREPRENEURSHIP: ACCELERATING THE ENTREPRENEURIAL POTENTIAL OF BLACK CANADIANS
May 26th, 2021
The report, Inclusive Entrepreneurship: Exploring the Barriers Facing Black Entrepreneurs in Canada, commissioned by the African Canadian Senate Group and Senator Colin Deacon and powered by Abacus Data, found that systemic barriers to growth and success face Black Canadian entrepreneurs. Of the 342 Black entrepreneurs surveyed, 76% reported that their race makes it harder to succeed as an entrepreneur. Access to capital, funding, financing, or sales was the top stated challenged for Black entrepreneurs as well, with 75% reporting that if they needed to find $10,000 to support their business, it would be difficult for them to do so.
INCLUSIVE ENTREPRENEURSHIP: ACCELERATING THE ENTREPRENEURIAL POTENTIAL OF BLACK CANADIANS
January 14th, 2021
As we fight against anti-black racism and systemic racism in Canada, we must explore increasingly effective ways to accelerate the entrepreneurial potential of Black Canadians. Following engagements with several entrepreneurs, executive leaders and community members, we have gathered insights and information to support the thesis that the entrepreneurial potential of Black Canadians has been limited by several factors. In this paper, we focus on highlighting existing gaps, emerging programs across the country that are exemplary, and areas of opportunity that could be further explored by entrepreneurs, community leaders, corporate executives and governments. This paper assesses the current state of Black entrepreneurship in Canada, emerging initiatives, and promising areas of focus for the future.
NYU STERN REPORT: WHICH LENDERS HAD THE HIGHEST MINORITY SHARE AMONG THEIR PAYMENT PROTECTION PROGRAM (PPP) LOANS?
December 10th, 2020
In March 2020, the US government included provisions in the CARES Act that authorized $650 billion in Payment Protection Program (PPP) loans to small businesses in order to help them during the COVID-19 crisis. In this research conducted by the NYU Stern School of Business, the authors explore how PPP lenders differed in the share of their loans that went to minority-owned and especially to Black-owned businesses, amid concerns that such businesses struggled to access PPP loans.