Afro Caribbean Business Network

Category: Opinions

  • When Elders Speak: Joanne Stone-Campbell on Indigenous Wealth and Black Entrepreneurial Leadership

    When Elders Speak: Joanne Stone-Campbell on Indigenous Wealth and Black Entrepreneurial Leadership

    At the Afro-Caribbean Business Network, we know that resilience in business comes not only from strategy and capital but from wisdom—especially the wisdom of Elders. In our When Elders Speak series, we highlight powerful voices whose lessons help entrepreneurs build enterprises rooted in values, community, and continuity.

    In a recent conversation, Joanne Stone-Campbell, a Nishnabe woman originally from Northern Ontario, shared deep insights from her 35 years in education, her MBA studies, and her current role at Vancity in Indigenous finance. Joanne works at the intersection of finance and community, leading efforts to transform how financial institutions serve Indigenous people.

    For Black entrepreneurs, her lessons on Indigenous wealth offer an invaluable roadmap for building ethical, sustainable, and community-centered businesses.

    Key Lessons on Indigenous Wealth for Black Entrepreneurial Leadership

    1. Prioritize Relationships Over Transactions

    For Joanne, genuine success in business is not about services—it’s about relationships. She recalls a hereditary Chief saying, “It’s not a service we want, we want a relationship.”

    Takeaway for Entrepreneurs: Build trust and long-term connection with your clients and communities. Be present, accessible, and responsive—not just transactional.

    2. Decolonize Processes and Customise Offerings

    Much of Joanne’s work involves reviewing financial systems for bias and redesigning them to better serve Indigenous communities. She helped create the Wealth Mindset curriculum, tailored to Indigenous learners, because existing programs failed to connect.

    Takeaway for Entrepreneurs: Audit your systems for bias. Ask: Are there barriers unintentionally excluding certain groups? Customize your offerings so your clients feel represented in your content, stories, and services.

    3. Redefine Wealth Beyond the Dollar

    In Indigenous finance, wealth extends far beyond money. It includes family connections, cultural knowledge, language, songs, stories, and spiritual practice. Institutions like Vancity reflect this by reinvesting 30% of their earnings into the community.

    Takeaway for Entrepreneurs: Expand how you measure impact. Track how your business strengthens cultural ties, supports community well-being, and uplifts families—not just financial returns.

    4. Honor and Leverage the Wisdom of Elders

    Joanne reminds us that Elders carry lived experience equivalent to advanced degrees. They are teachers, healers, and advisors—and should be recognized as such.

    Takeaway for Entrepreneurs: Bring Elders into advisory roles. Compensate them fairly. Support their participation by offering accommodations. Treat their presence not as symbolic, but as a vital source of strategy and foresight.

    A Call to Action for Emerging Leaders

    Joanne’s advice is simple yet powerful: Listen, Learn, and Observe. Emerging leaders should actively seek the wisdom of Elders and seasoned professionals. Even small acts—offering assistance, showing respect, or seeking their counsel—strengthen intergenerational knowledge transfer.

    By valuing Indigenous wealth perspectives, removing systemic barriers, and prioritizing authentic relationships, entrepreneurs can build businesses that are financially strong and deeply rooted in community well-being.

    Watch the full interview with Joanne Stone-Campbell to hear her wisdom on Indigenous wealth and Black entrepreneurial leadership:
    👉 Watch on YouTube

    Learn about our ACBN Membership so we can work with you to build your business:
    https://acbncanada.com/membership/

  • When Elders Speak: Leadership Lessons from Baba Malik Yakini on Black Entrepreneurial Resilience

    When Elders Speak: Leadership Lessons from Baba Malik Yakini on Black Entrepreneurial Resilience

    At the Afro-Caribbean Business Network, we believe wisdom is capital. Through our series When Elders Speak, we share conversations that help entrepreneurs ground their businesses in values that last.

    Recently, we sat down with Baba Malik Yakini, a Detroit-based pioneer whose decades of leadership span food security, cooperative economics, and community empowerment. As the Executive Director of the Detroit Black Community Food Security Network (DBCFSN), Baba Malik has overseen transformative initiatives such as the seven-acre D-Town Farm, youth development programs, and the Detroit Food Commons—home of the community-owned, Black-led Detroit People’s Food Co-op.

    His message is clear: resilient businesses and communities require vision, alignment, and institution building. For Black entrepreneurs, his insights are a blueprint for both personal and organizational longevity.

    Key Leadership Lessons for Black Entrepreneurial Resilience

    1. Align Mission with Spiritual Purpose

    True success comes when leadership decisions align with what is just, balanced, and right. Baba Malik reminds us that spiritual grounding ensures organizations stay true to their core mission.

    Takeaway: Regularly ask yourself—are my products, partnerships, and operations aligned with my values and long-term destiny?

    2. Transition from Soldier to General

    With time, leaders must shift from frontline execution to guiding strategy, mentoring, and transferring knowledge. Baba Malik calls this the evolution from “soldier” to “seasoned general.”

    Takeaway: Entrepreneurs should document their experiences and build systems for passing lessons forward. This ensures your business thrives beyond your direct involvement.

    3. Value Wisdom and Foresight

    Elders provide accumulated wisdom that helps avoid repeating mistakes. Their foresight is a critical compass for sustainable growth.

    Takeaway: Invite experienced voices into your advisory circles. Wisdom from decades past strengthens decisions for decades ahead.

    4. Practice Self-Determination (Kuji Chagalia)

    From farming to food co-ops, Baba Malik stresses the importance of defining success on your own terms. External systems often push short-term gains, but self-determined strategies create lasting independence.

    Takeaway: Shape business models that serve your community’s needs first, not just outside pressures.

    5. Build Institutions That Outlast You

    The Detroit People’s Food Co-op isn’t just about groceries—it’s about creating structures that guarantee self-reliance for generations.

    Takeaway: Think beyond transactions. Build organizations, co-ops, and partnerships designed to stand long after your tenure.

    In Closing

    Baba Malik Yakini’s legacy teaches that leadership is about more than growth—it’s about continuity, accountability, and building institutions that strengthen future generations.

    Watch the full interview to hear Baba Malik’s wisdom on leadership and Black entrepreneurial resilience:
    👉 Watch on YouTube

    Learn about our ACBN Membership so we can work with you to build your business:
    https://acbncanada.com/membership/

  • Climate Justice in Canada: Why Businesses Must Lead the Transformation with Alicia Richins

    Climate Justice in Canada: Why Businesses Must Lead the Transformation with Alicia Richins

    We recently sat down with Alicia Richins, Climate Justice Advocate and expert in ecological economics and the UN Sustainable Development Goals (SDGs), to explore how climate justice in Canada intersects with business, equity, and innovation.

    Her insights reveal not only why climate justice matters for our communities, but also how Black entrepreneurs can position themselves as leaders in building a sustainable and just future.

    Interconnection and Local Action

    Climate justice requires us to see the connections between social issues, economic disparity, and environmental challenges. Alicia reminds us that the SDGs provide a powerful framework, but transformation only happens when we translate broad goals into local, tangible action.

    What this means for business owners:

    • Embed sustainability into your business model, starting with your immediate community.

    • Reject “business as usual.” The old ways weren’t serving us. True sustainability means building a world that is prosperous, equitable, and regenerative.

    Innovation and Accountability as Tools for Change

    For Alicia, transformation requires both creativity and proof of impact.

    • Harness social innovation: Think of innovation as a sandbox where businesses can test bold new ideas before scaling.

    • Mandate impact measurement: Define your goals, collect data, and prove your results. A strong evidence base will make your business more credible to funders, partners, and customers.

    Unpacking Systemic Barriers

    Environmental challenges are never neutral—they disproportionately affect racialized communities. Alicia highlights that neighborhoods with fewer trees, poorer transit, and closer proximity to industrial zones face higher pollution, worse health outcomes, and reduced economic opportunity.

    Insights for entrepreneurs:

    • Demand evidence against greenwashing. Don’t settle for surface-level sustainability claims—prove your business impact.

    • Connect the dots. Understand how climate intersects with housing, health, and employment. Build solutions that address root causes.

    • Start from systems. Climate catastrophe is linked to colonialism, racial hierarchies, and a separation from nature. Businesses must commit to reconciliation and reparations as part of real climate action.

    A Call to Reorientation

    We already have the technology and knowledge to avoid climate collapse. What holds us back is the inertia of the very systems that created the crisis.

    Alicia’s challenge to entrepreneurs is clear: rethink how you do business. Sustainability is not just about cutting emissions—it’s about recognizing that we are part of nature and building businesses rooted in equity, imagination, and care.

    Watch the Full Interview

    Discover Alicia Richins’ powerful insights on climate justice in Canada and learn how your business can lead the transformation.
    🎥 Watch here: YouTube Interview

    Learn about our ACBN Membership so we can work with you to build your business: Join ACBN

  • Building Trust, Wealth, and Legacy: Essential Business Strategy from Elder Wisdom – Interview with ELDER ABENA GINELLE SKERRIT

    Building Trust, Wealth, and Legacy: Essential Business Strategy from Elder Wisdom – Interview with ELDER ABENA GINELLE SKERRIT

    Watch full interview here: https://youtu.be/jLD5XtdHuQY
    The foundation of our network, captured beautifully by the proverb, “I am because we are,” reminds us that true entrepreneurial success is never achieved in isolation. Recently, our network had the immense privilege of drawing wisdom from Elder Abena Ginelle Skerritt, a phenomenal leader and executive whose decades of work demonstrate how traditional principles translate into powerful, sustainable economic and community development.
    As business owners navigating complex markets, her insights—spanning collective economics, strategic land ownership, and selfless leadership—offer a powerful roadmap for building companies that are resilient, profitable, and rooted in purpose.
    Here are the key business strategies we can adopt from Elder Skerritt’s remarkable body of work:
    ——————————————————————————–
    1. Redefining Capital: Trust as Your Highest Yield
    We often focus solely on maximizing interest rates and quarterly profits. However, Elder Skerritt’s work with the Susu model challenges us to look beyond conventional financial metrics.
    Susu, a system of collective economics, is moving significant resources within the community—approaching a million dollars over two years in her groups alone. When questioned about the lack of traditional interest, Elder Skerritt notes that the true interest comes in the form of trust and resiliency built within the community.
    The Business Takeaway:
    • Trust is Your Prime Asset: For business owners, this means shifting focus from transactional relationships to relational ones. The trust and resiliency you build with customers, suppliers, and partners provide actual value that shields you during economic downturns, far exceeding short-term gains.
    • Embrace Cooperative Models: Look for ways to pool resources, invest together, or start shared businesses with others in the network. This collective effort, which our ancestors utilized successfully, moves larger capital and stabilizes the entire ecosystem. We must be able to understand and function in a capitalist society, but we should prioritize a collaborative, cooperative model based on our own values.
    • Solving Foundational Problems: Elder Skerritt connects Susu savings to helping the community achieve sustainable self-determination around housing, specifically saving for a down payment. Our businesses should similarly seek ways to link our core services to solving foundational community problems, ensuring our economic models are built for liberation and progress.
    2. Strategic Asset Acquisition and Supply Chain Resilience
    Elder Skerritt and her husband operate Adinkra Farm, a 42-acre property one hour north of Toronto, which acts as a center for food sovereignty and community gathering. This initiative is a practical realization of a vision held by her husband’s 1970s band for acquiring land.
    The Business Takeaway:
    • Invest in Hard Assets for Self-Determination: Land ownership provides fundamental stability and allows for activities (like drumming and gathering) that might be restricted in the city. For businesses, this translates into aggressively pursuing real estate and foundational assets that secure your operations long-term and provide a space for community engagement.
    • Manage the Supply Chain Crisis: Elder Skerritt notes the importance of taking up challenges around rising food prices and questionable nutritional value. Our businesses must similarly address the reliability and nutritional value (quality) of our input sources. Exploring diversification—like hydroponics or growing high-demand crops—is a necessary step for future sustainability.
    • The Power of Dual Purpose: Adinkra Farm is both a farm and a renovated community gathering space. Our business properties can serve multiple purposes, generating revenue while fulfilling a social purpose, reinforcing the principle of “I am because we are.”
    3. Selfless Leadership and Becoming a Reliable Source
    Elder Skerritt defines good eldership not by age, but by maturity, selflessness, and a broad scope of vision that goes beyond immediate personal issues. Elders must be out there, interacting with the community, so people know they can rely on them for guidance—whether it’s on work situations, property ownership, or implementing economic systems like Susu.
    The Business Takeaway:
    • Lead with a Wide Scope: True leadership requires selflessness and the ability to maintain a scope of thinking that looks beyond immediate profit and addresses long-term relationship, business, and life direction for those in your orbit.
    • Build Authority Through Reliability: The community relies on Elder Skerritt for referrals and advice because they see what she and her husband are actively doing. This consistency transforms into credibility. As business leaders, we need to be visible, interacting with our community, and providing reliable information and expertise. This reputation is invaluable for attracting talent and customers.
    • Provide Practical Guidance: From fashion advice to business strategy, an effective leader offers actionable insights. We should aim to be the go-to source for specific practical knowledge within our industry.
    4. Intentional Succession Planning and Coaching
    We often lament the absence of young people in our key meetings and events. Elder Skerritt provides a solution: Elders must make themselves available and actively engage in succession planning. This involves proactively hiring and coaching young people in economic opportunities.
    The Business Takeaway:
    • Succession is Active, Not Passive: Don’t wait for the next generation to show up; hire them and coach them. Intentional development involves inviting young talent to assist at workshops, giving them the marker, and putting them in positions where they have to learn by doing.
    • Invest in Future Leadership: By prioritizing young people in economic opportunities, we ensure the sustainability of our businesses and the continuity of our values. This approach mitigates leadership gaps and transfers institutional knowledge effectively.
    5. The Mandate for Self-Knowledge
    Elder Skerritt’s call to action for young people is simple yet profound: Be informed and get informed. The information necessary for success may not be easily accessible through normal methods, requiring deliberate effort, using music as a historical resource, and asking elders directly.
    The Business Takeaway:
    • Self-Knowledge is Strategy: An entrepreneur cannot truly know their path or contribution without knowing the history of their people. This historical literacy provides context for struggle, identifies traditional models of success (like the co-operative subsistence model), and guides our strategic purpose.
    • Leverage Internal Wisdom: Our parents and community elders hold vital information about our personalities and purpose that can guide our business trajectory. We must deliberately seek out and utilize this wisdom when setting our overall life direction and business goals.
    By weaving together these lessons—prioritizing trust over simple profit, investing strategically in assets, leading selflessly, and actively developing the next generation—we ensure that our businesses are not just solvent, but sovereign.
    Watch full interview here: https://youtu.be/jLD5XtdHuQY
  • Beyond the Balance Sheet: Lessons from Eldership That Will Transform Your Business

    Beyond the Balance Sheet: Lessons from Eldership That Will Transform Your Business

    As business owners, we’re constantly searching for the secret sauce—the strategy, the technology, the market edge—that guarantees success. We chase profits, optimize processes, and worship the metrics that drive the bottom line. But what if the deepest insights for long-term health and growth don’t come from a textbook on corporate strategy, but from a profound understanding of community, relationship, and human nobility?
    I recently encountered the work of Dr. Joy DeGruy, author and dedicated healer, and her perspective on eldership and community—a concept deeply rooted in the principle “I am because we are”—offers a radical reorientation for how we should lead our teams and engage our customers.
    Here are the critical lessons I’m integrating into my business right now, and why you should too:
    ——————————————————————————–
    1. Relationships Are Your Highest Value Asset
    The Western world often encourages “ego worship” and materialism, prioritizing “stuff” and titles over genuine connection. But an 85-year Harvard study found the cause of happiness is good relationships. This aligns perfectly with the primary value system (axiology) of African descent, where the highest value lies in the relationship between people.
    What This Means for Leadership:
    We must stop treating our staff, partners, and clients as transactional resources. If your team is only focused on degrees, trophies, or the size of their next bonus, they will never find real happiness, and your company culture will remain brittle.
    • Focus on the Core: At the end of the day, success is defined by “who you love and who loves you.” We need to do the foundational work of building strong internal relationships.
    • Dethrone the Ego: Leadership isn’t about having the final word or holding onto the mic forever. As Dr. DeGruy notes, true eldership involves humility—knowing when to step back from the leadership spotlight and serve the community (even if that means offering to “wash the dishes” or “fold up the chairs”). This models “us and not me.”
    2. The Presence of the Elder Brings Order
    Dr. DeGruy shared a fascinating story about young bull elephants acting destructively until the mere presence of a powerful, experienced bull restored “order and appropriate balance” to the group. The young elephants needed the elder to know their place.
    This is a biological necessity that translates directly to the workplace:
    • Value Wisdom and History: Our long-term employees and experienced leaders are the “bull elephants.” They have wisdom gained from long experience, having “seen some things” and made plenty of mistakes.
    • Listen Intentionally: Emerging leaders must give the honor of their conversation to Elders. If we don’t listen, we risk repeating known failures, just like leaders who believe they “got this” only to realize a year later they didn’t.
    • Be a Stabilizing Force: Your presence as an experienced leader or owner should bring a sense of order to the space. When things feel chaotic or “out of order,” the intentional leadership of an experienced person is what restores balance.
    3. Acknowledgment Cultivates Intrinsic Nobility
    Eldership is fundamentally about making people feel seen, special, worthy, and capable. Dr. DeGruy described the casual nod exchanged between strangers as a powerful act of recognition: “I see you.”
    What This Means for Your Employees:
    • The “Juicy Face” Principle: When an employee walks into the room, do you “light up” for them? Your intentional smile and encouragement are essential to affirming their self-worth.
    • Combat Alienation: Dr. DeGruy shared an anecdote where Elders crossed the street to avoid rambunctious young men, sending a harmful message of alienation. In business, we harm our employees and future talent when we avoid engagement or fail to acknowledge their potential.
    • Bring Them Back to Their Best Selves: A leader’s role is to bring people “back to your intrinsic nobility” when they have forgotten it. Instead of moving away from difficult or inappropriate behaviour, we must lean in and gently remind individuals of the high standards and capabilities we expect from them.
    4. Rites of Passage Must Define Contribution, Not Just Independence
    Rites of Passage (ROP) is often misunderstood as simply gaining independence. Its true significance, however, is helping young people recognize their contribution to the wholeness of the village. The goal is to “excavate a person’s abilities” so they understand what they can bring to their people.
    • Prevent Destructive Behaviour: Dr. DeGruy cites the proverb: “If a child is not embraced by his village, he will burn it down to feel its warmth.” If your business doesn’t give young staff a clear, meaningful role, they will seek that warmth and validation elsewhere—potentially causing friction or leaving entirely.
    • Hone Individual Gifts for the Collective: Think of your business as an orchestra. While the collective sound is beautiful, sometimes the string section has to meet alone to hone its skill before contributing. Our training and mentorship programs should be designed to focus and excavate each person’s unique gifts, preparing them for their role in the company’s “collective sound.”
    5. Courage and Vulnerability Build Trust
    Dr. DeGruy’s biggest lesson learned is courage. Courage isn’t the absence of fear, but doing what you have to do even when you are afraid. Courage requires vulnerability—trusting that when you fall, someone will catch you and help you get back up.
    • Make Failure an Opportunity: We must create a culture where staff feel safe to admit, “I’m not okay” or “I was wrong and I own it.” If employees are punished for not being perfect or for demonstrating humanity, they will never innovate or take necessary risks. Failure is simply an opportunity to learn.
    • The Power of Connection: Dr. DeGruy demonstrated courage by stopping a group of rambunctious young men and asking them about their life dreams, forging a relationship. By creating that relationship, she guaranteed they would protect her because she had validated them. In business, forming genuine relationships protects the organization far better than rigid rules.
    Dr. Joy DeGruy reminds us that our most vital call to action today is to address the assault on truth. This means embracing ourselves, honoring those who came before us, and standing in that truth despite global struggles with anti-Blackness.
    For us, the truth is that the human element—the relationship, the inherent worth, the courage to be vulnerable—is what builds an enduring, meaningful enterprise. If we focus on building up and healing relationships within our teams and communities, we will find the peace, and success, we all need.
  • Beyond Capital: A New Vision for Black Entrepreneurs in Canada

    Beyond Capital: A New Vision for Black Entrepreneurs in Canada

    The Future of Black Entrepreneurship in Canada: Beyond Financial Solutions

    A compelling response from the Afro Caribbean Business Network (ACBN) challenges conventional approaches to supporting Black entrepreneurs in Canada. Authored by Executive Director Ryan O’Neil Knight and Project Management Consultant Errol A. Gibbs, this September 2024 document offers critical insights on recent reports including “The Entrepreneurial Potential of Black Canadians” by Senator Colin Deacon and “Progress On Black Entrepreneurship Initiatives” by Senators Amina Gerba and Colin Deacon.

    Rethinking Support for Black Entrepreneurs

    While access to capital remains crucial for Black entrepreneurs, the ACBN argues that focusing solely on financial solutions is insufficient. Drawing on 50 years of combined experience, Knight and Gibbs contend that this limited approach has failed to create sustainable pathways for Black entrepreneurs over the past five decades.

    Their analysis reveals that many Black entrepreneurs operate nano and micro enterprises that traditional banks might not consider “bona fide” small businesses. Moreover, the ACBN emphasizes that for Black entrepreneurs, “capital growth” and business sustainability serve as vital success multipliers beyond initial funding. They question the viability of Black-owned businesses dependent on continuous grants and financing.

    The Canadian Black Empowerment Initiative: A Comprehensive Solution for Black Entrepreneurs

    In response to these limitations, the ACBN introduces their Canadian Black Empowerment Initiative (CBEI) (2025-2075), designed to foster an “industrial mindset” among Black entrepreneurs. This pioneering approach encompasses:

    • A Canadian Black Empowerment Manifesto (CBEM) Version 3.0: A commercial blueprint for broader sector acceptance
    • A Canadian Black Empowerment Think Tank (CBETT): Intellectual infrastructure dedicated to addressing Black entrepreneur disempowerment
    • A Portfolio Management Office (PMO): Digital infrastructure supporting structured project management

    Building a Sustainable Ecosystem for Black Entrepreneurs

    The ACBN emphasizes that Black entrepreneurs need more than financial resources to achieve long-term success. Their vision includes:

    • Physical and digital infrastructure development
    • Appropriate data collection and analysis specific to Black entrepreneurs
    • Formation of Black entrepreneur consortiums to secure significant contracts
    • Increased Black corporate ownership and leadership
    • Capacity building for Black entrepreneurs to become Tier 1, 2, or 3 suppliers
    • Strong collective resolve within the Black entrepreneurial community

    Addressing Critical Gaps for Black Entrepreneurs

    The ACBN highlights several overlooked areas essential for Black entrepreneurial success:

    • Establishing Black small-cap corporations to provide leadership and mentorship to emerging Black entrepreneurs
    • Emphasizing procurement engagement to achieve equitable wealth distribution
    • Developing an “industrial mindset,” project management skills, and infrastructure within the Black Entrepreneurial Economic Ecosystem
    • Moving beyond non-profit community organizations as sole mentors for Black entrepreneurs
    • Helping nano, micro, and small Black entrepreneurs meet supplier requirements for government and large corporations
    • Investing in research and development while understanding broader market needs beyond the Black consumer market
    • Adapting educational approaches to prepare Black entrepreneurs for an AI-driven business landscape
    • Addressing “siloism” within the Black entrepreneurial community

    The Path Forward: A Four-Phase Implementation

    The ACBN outlines a structured implementation strategy for supporting Black entrepreneurs:

    1. Phase I (4-6 months): Create a commercially viable Manifesto Version 3.0
    2. Phase II (4-6 months): Conduct a rapid feasibility study assessing project viability
    3. Phase III (6-8 months): Prepare design, development, and implementation strategies
    4. Phase IV (ongoing): Establish parameters for launch, execution, and long-term operations

    The ACBN anticipates immediate benefits for Black entrepreneurs throughout all implementation phases due to the integrated nature of these initiatives.

    A Holistic Vision for Black Entrepreneurial Success

    The ACBN’s response provides a valuable alternative to the traditional focus on capital financing as the primary solution for Black entrepreneurs in Canada. Their Canadian Black Empowerment Initiative presents a comprehensive, long-term strategy addressing systemic issues while building robust infrastructure for sustainable Black entrepreneurial success. The ACBN has expressed keen interest in discussing this initiative further with the Senators.

  • Assessing Progress: Key Insights into Black Entrepreneurship Initiatives in Canada

    Assessing Progress: Key Insights into Black Entrepreneurship Initiatives in Canada

    Progress and Challenges for Black Entrepreneurs in Canada: Insights from Stakeholder Interviews

    Between July and December 2023, Senators Amina Gerba and Colin Deacon conducted extensive interviews with key stakeholders to assess the progress and remaining obstacles in supporting Black entrepreneurs in Canada. This initiative builds upon their 2021 report, which revealed that 76% of Black entrepreneurs feel their race makes success harder, and 75% struggle to find even $10,000 for their business. This blog post summarizes their findings and recommendations for fostering a more inclusive entrepreneurial ecosystem for Black entrepreneurs across Canada.

    Key Insights from Stakeholder Interviews

    Trust and Access Barriers for Black Entrepreneurs

    The interviews confirmed a critical challenge: only 19% of Black entrepreneurs trust banks to act in their best interests and that of their community. This trust deficit has historically limited Black entrepreneurs’ access to crucial resources like capital, procurement opportunities, mentorship, and business networks.

    Financial Literacy Challenges Facing Black Entrepreneurs

    Stakeholders identified financial and business literacy gaps among some Black entrepreneurs as a significant hurdle. These challenges include:

    • Difficulties providing necessary documentation
    • Challenges building comprehensive business plans
    • Limited understanding of loan requirements

    These issues often slow down the loan adjudication process for Black entrepreneurs and create additional barriers to accessing capital.

    Persistent Systemic Bias Against Black Entrepreneurs

    Despite various initiatives, systemic biases continue to affect lending and adjudication processes for Black entrepreneurs. Traditional reliance on credit scores can disproportionately disadvantage Black entrepreneurs, especially newcomers who may lack:

    • Established credit history
    • Generational wealth
    • Traditional collateral

    Stakeholders called for more modern tools to assess creditworthiness, focusing on cash flow, payment activity, character, and other qualitative metrics that better reflect the reality of Black entrepreneurs.

    Capital Deployment Issues Affecting Black Entrepreneurs

    The slow deployment of capital was noted as a significant issue for Black entrepreneurs, often linked to:

    • Incomplete applications
    • Misunderstandings about requirements
    • Varying levels of institutional understanding regarding the specific needs of Black entrepreneurs

    Technology and Support Needs for Black Entrepreneurs

    The report highlighted several areas where technology and comprehensive support could improve outcomes:

    • New approaches to data collection to combat systemic biases
    • Investment in technology to streamline processes
    • Caution regarding AI-based loan adjudication potentially entrenching existing biases against Black entrepreneurs
    • Recognition that financial support alone is insufficient for Black entrepreneurs
    • Need for pre- and post-loan support, including financial literacy training
    • Acknowledgment that social factors like transportation, healthcare, and childcare—often neglected in program design—can be significant barriers for Black entrepreneurs

    Current Initiatives Supporting Black Entrepreneurs

    The Black Entrepreneurship Program (BEP)

    This collaborative effort involves the Government of Canada, Black-driven businesses, and financial institutions to support Black entrepreneurs. The program includes:

    Black Entrepreneurship Loan Fund (BELF)

    • Administered by the Federation of African Canadian Economics (FACE)
    • Capital contributions from the Government of Canada and BDC
    • FACE offers loans up to $100,000 for Black entrepreneurs
    • BDC funds and disburses loans between $100,000 and $250,000
    • Includes a microloan pilot program through Alterna Savings and Vancity for smaller loans

    Other BEP Components

    • National Ecosystem Fund supporting Black entrepreneurs
    • Black Entrepreneurship Knowledge Hub

    Bank Initiatives for Black Entrepreneurs

    Several major banks have launched dedicated programs to support Black entrepreneurs:

    • CIBC partnerships and funding programs
    • National Bank of Canada (NBC) initiatives
    • TD Bank mentorship and financial education programs

    Additional Support Programs

    • BKR Capital: The first Black-led VC fund in Canada, focused on investing in technology companies founded by Black entrepreneurs
    • Supporting Black Canadian Communities Initiative (SBCCI): A federal grants program aimed at building capacity for Black entrepreneurs and their communities

    Challenges and Opportunities for Black Entrepreneurs

    Information and Coordination Gaps

    Despite best efforts, information-sharing gaps persist between organizations supporting Black entrepreneurs, potentially causing some to “fall through the cracks.” Stakeholders suggested developing a centralized, customer-centric solution to better serve Black entrepreneurs.

    Program Sustainability Concerns

    The uncertain future of the BEP raises concerns about long-term support for Black entrepreneurs. Stakeholders overwhelmingly emphasized the need for permanent funding to create lasting change and support Black entrepreneurs effectively.

    Funding Adequacy and Structure

    While initial investments have shown promising results for Black entrepreneurs, many stakeholders believe:

    • The current funding amounts need significant increases
    • Support organizations may need structural adjustments
    • Equity financing remains underutilized for Black entrepreneurs

    Growth and Scaling Challenges

    Current support programs often focus on startups, with insufficient attention to helping established Black entrepreneurs scale their businesses. This represents a significant gap in the support ecosystem.

    Social Factors and Data Collection

    • The impact of social factors on Black entrepreneurs’ success needs greater consideration
    • More comprehensive data gathering is crucial to understand the nuances and challenges faced by Black entrepreneurs
    • Non-profit organizations supporting Black entrepreneurs require stronger capacity building

    Market Access Opportunities

    Expanding market access for Black entrepreneurs presents significant opportunities through:

    • Domestic market development
    • International trade opportunities
    • Leveraging diasporan connections
    • Increasing government procurement opportunities

    Public Policy Recommendations for Supporting Black Entrepreneurs

    Based on stakeholder insights, the report offers several recommendations to better support Black entrepreneurs:

    1. Permanent Funding: Establish a permanent BEP with substantially increased funding for Black entrepreneurs
    2. Financial Literacy: Provide access to high-quality financial literacy programs to improve loan readiness among Black entrepreneurs
    3. Inclusive Metrics: Include key performance indicators in federal programs to track progress on inclusivity for Black entrepreneurs
    4. Diverse Capital: Promote access to equity financing, including angel and venture capital for Black entrepreneurs
    5. Procurement Reforms: Ensure Black entrepreneurs gain access to government procurement opportunities
    6. Standardized Reporting: Implement consistent standards for reporting success metrics across BEP organizations serving Black entrepreneurs
    7. Knowledge Sharing: Prioritize forums to share learnings and improve program outcomes for Black entrepreneurs
    8. International Connections: Develop strategies to foster business partnerships and trade opportunities for Black entrepreneurs internationally
    9. Complementary Policies: Prioritize policies like Consumer-Driven Banking to support credit history building for Black entrepreneurs
    10. Innovation Programming: Develop innovation programs in collaboration with Black entrepreneurs and their businesses

    Conclusion: Building an Equitable Future for Black Entrepreneurs

    The report recognizes notable progress in supporting Black entrepreneurs in Canada over the past three years. However, it emphasizes that this work remains far from complete. Creating a truly equitable environment where Black entrepreneurs can reach their full potential requires:

    • Continued collaboration among all stakeholders
    • Addressing persistent systemic barriers facing Black entrepreneurs
    • Enhancing data collection to better understand the needs of Black entrepreneurs
    • Ensuring sustainable and adequate funding for programs supporting Black entrepreneurs

    The insights and recommendations in this report serve as vital guideposts in the ongoing journey to foster an inclusive ecosystem where Black entrepreneurs can thrive and significantly contribute to Canada’s economic growth and diversity.

  • Unmasking Barriers: Key Findings on Inclusive Entrepreneurship for Black Canadians

    Unmasking Barriers: Key Findings on Inclusive Entrepreneurship for Black Canadians

    Black Entrepreneurs in Canada: Senator Study Reveals Barriers and Opportunities

    A groundbreaking study commissioned by the African Canadian Senate Group and Senator Colin Deacon has shed critical light on the challenges facing Black entrepreneurs in Canada’s business landscape. Led by David Coletto of Abacus Data and Alfred Burgesson, this comprehensive research surveyed 342 Black entrepreneurs across Canada in May 2021, documenting their experiences with accessing capital, navigating support systems, and confronting systemic racism.

    Profile of Canadian Black Entrepreneurs

    The survey captured a diverse cross-section of Black entrepreneurs across the country:

    • Gender distribution: 54% of Black entrepreneurs identified as female and 45% as male
    • Age demographics: The majority (52%) of Black entrepreneurs were between 30-44 years old
    • Geographic reach: Black entrepreneurs participated from various provinces, with highest representation from Ontario (44%) and Quebec (37%)
    • Business maturity: 45% of Black entrepreneur ventures were relatively new, operating for 0-2 years
    • Revenue patterns: A significant majority (52%) of Black entrepreneur businesses reported under $50,000 in revenue for 2019

    Key Challenges Facing Black Entrepreneurs

    Systemic Racism Creates Significant Barriers

    The study revealed that 76% of Black entrepreneurs believe systemic racism directly hampers their business success. This perception was consistent regardless of how established or connected the Black entrepreneurs were. Many reported experiencing direct discrimination in their daily operations:

    • Customers refusing services from Black entrepreneur businesses
    • Financial institutions denying loans to Black entrepreneurs based on racial factors
    • Racial bias affecting everyday business interactions for Black entrepreneurs

    Capital Access: The Primary Obstacle for Black Entrepreneurs

    Access to funding emerged as the most significant challenge, with 75% of Black entrepreneurs identifying financing and capital constraints as their primary barrier:

    • Nearly 80% of Black entrepreneurs reported difficulty securing even modest funding of $10,000
    • Self-financing (“bootstrapping”) remains the predominant funding method for Black entrepreneurs
    • Traditional funding channels remain largely inaccessible to many Black entrepreneurs

    Network and Support Deficits Among Black Entrepreneurs

    The research highlighted significant gaps in networking and support resources:

    • Only 45% of Black entrepreneurs know how to access business supports when challenges arise
    • Black entrepreneurs often lack strong connections to mentors and advisors compared to their non-Black counterparts
    • Knowledge gaps about available resources create ongoing challenges for Black entrepreneurs

    Trust Issues with Financial Institutions

    Trust in banking institutions remains remarkably low among Black entrepreneurs:

    • Only 19% of Black entrepreneurs expressed trust in banks generally
    • Banks ranked as the least trusted financial institutions among Black entrepreneurs
    • This trust deficit significantly impacts Black entrepreneurs’ willingness to engage with mainstream financial services

    Daily Business Operations Challenges

    Many Black entrepreneurs struggle with fundamental business operations:

    • Difficulty meeting payroll obligations
    • Challenges paying suppliers on schedule
    • Cash flow constraints affecting overall business stability
    • “Unempowered” Black entrepreneurs face particularly acute operational challenges

    The Value of Representation and Relationships

    The study found that Black entrepreneurs with established relationships at financial institutions are twice as likely to trust them, highlighting:

    • The importance of diverse representation in banking
    • The value of relationship-building for Black entrepreneurs
    • The need for more inclusive practices by financial institutions serving Black entrepreneurs

    Resilience and Optimism Despite Challenges

    Perhaps most remarkably, despite facing significant systemic barriers, 87% of Black entrepreneurs reported being somewhat or very optimistic about their business future, demonstrating exceptional resilience.

    Empowered vs. Unempowered Black Entrepreneurs

    The research distinguished between “empowered” and “unempowered” Black entrepreneurs based on several key factors:

    Empowered Black entrepreneurs typically:

    • Know how to navigate support systems
    • Can access funding channels more effectively
    • Have developed essential business skills
    • Demonstrate confidence in problem-solving
    • Recover more quickly from business setbacks

    Unempowered Black entrepreneurs generally experience:

    • Limited access to support networks
    • Significant funding challenges
    • Skill gaps in key business areas
    • Less confidence in handling business challenges

    What Black Entrepreneurs Need Most

    When asked directly about their most pressing needs, Black entrepreneurs overwhelmingly identified funding and capital access (32%) as their top priority.

    Moving Forward: Creating an Inclusive Ecosystem for Black Entrepreneurs

    This landmark research provides crucial insights into the challenges facing Black entrepreneurs in Canada. The findings clearly demonstrate how systemic racism, capital access barriers, and networking limitations create an uneven playing field.

    To build a truly inclusive entrepreneurial ecosystem where Black entrepreneurs can thrive, stakeholders across government, financial institutions, and business communities must address these systemic issues with targeted solutions. The remarkable optimism displayed by Black entrepreneurs despite these challenges underscores their resilience and untapped potential.

    By removing these barriers, Canada stands to benefit tremendously from the full participation and contribution of Black entrepreneurs to the national economy and business landscape.

  • Uncovering Opportunities and Addressing Disparities: Key Insights from the ACBN Labour Market Needs Assessment

    Uncovering Opportunities and Addressing Disparities: Key Insights from the ACBN Labour Market Needs Assessment

    Black Labour Market Assessment Reveals Critical Gaps and Opportunities in Ontario

    A groundbreaking report titled “ACBN Rapid Labour Market Needs Assessment” has uncovered significant disparities facing Black workers and entrepreneurs in Ontario’s labour market. Prepared for the Afro-Caribbean Business Network (ACBN) in February 2023 by Dr. Cleophas Justine Pierre of Dunn, Pierre, Barnett and Company Canada Ltd., this assessment provides crucial insights to inform policy development and targeted interventions for Southern Ontario’s Black communities.

    The Importance of Black-Focused Labour Market Research

    Despite growing corporate and governmental commitments to diversity and inclusion, this report highlights why a dedicated Black Labour Market Needs Assessment (BLMNA) remains essential. Black communities face unique structural barriers within Canada’s labour market that require tailored solutions.

    The report emphasizes a striking paradox: while Black Ontarians have made significant contributions to Canada’s principles of justice and equity, they remain among those who benefit least from these values in practical economic terms.

    Ontario’s Black Workforce: Key Insights

    Demographics and Immigration

    • Gender dynamics: Women constitute 51.2% of Ontario’s Black workforce, despite being a smaller percentage of the overall provincial workforce
    • Immigration impact: Nearly 60% of Black workers in Ontario are immigrants, compared to just 32.8% of the general Ontario workforce

    Occupational Distribution

    • Black men are most heavily represented in trades, transport, and equipment operation sectors
    • Black women predominate in sales and service, health occupations, and education, law, and social services
    • Underrepresentation of both genders persists in highly compensated fields such as science and technology, engineering, and senior management positions

    Education vs. Income: A Troubling Disconnect

    • Educational parity: 70% of Black Ontarians hold post-secondary credentials, slightly exceeding the rate for white Ontarians (69.3%)
    • Persistent wage gap: Despite comparable education levels, Black men earned a median income of $45,200 compared to $63,600 for white men (2019)
    • Credential devaluation: Many Black Ontarians require advanced degrees to achieve earnings comparable to white workers with only high school diplomas

    Unemployment Challenges

    • Black men face 16.5% unemployment rates, with Black women at 17.5% (2021)
    • Black youth unemployment exceeds 30%, representing a critical concern
    • Interestingly, within Black communities, immigrants typically experience lower unemployment rates than Canadian-born workers

    Ontario’s Black Businesses: Growth Barriers and Opportunities

    Business Landscape

    • Black-owned businesses represent 2.3% of all Canadian businesses
    • Scaling challenges: 85.9% of Black-owned businesses in Ontario employ fewer than five people, compared to 56.5% of all Canadian businesses

    Industry Concentration

    73% of Black businesses operate in five key sectors:

    • Professional, scientific and technical services
    • Arts, entertainment and recreation
    • Accommodation and food services
    • Finance, insurance, real estate and leasing services
    • Retail trade

    Hiring and Growth

    • Business expansion drives 26% of new hiring
    • 38% of new positions require certification
    • Sales and service positions account for 30% of new hires

    Critical Resource Gaps

    Black business owners face significant operational challenges:

    • 78% lack resources to hire qualified professionals
    • 76% need assistance with proposals and bidding processes
    • 32% require IT and website development support
    • 37% need graphic design assistance
    • 89% do not have access to trusted financial advisors
    • 41% encounter ongoing financial challenges
    • 87% report that accessing finance is excessively difficult for Black-led businesses

    Recommendations for Meaningful Change

    Data Collection and Analysis

    • Governments and financial institutions must collect more detailed, disaggregated data on Black-owned businesses and workers to better understand systemic inequities

    Government Interventions

    • Fund specialized professional support services for Black businesses
    • Return to proactive employment equity approaches
    • Regularly consult with Black advocacy organizations
    • Promote apprenticeships in male-dominated skilled trades
    • Adjust loan and grant eligibility criteria to better align with Black business characteristics
    • Actively procure from and do business with Black-owned enterprises

    Advocacy and Coalition Building

    • Black advocacy groups should form stronger coalitions
    • Monitor and report on employment figures to promote equitable hiring practices
    • Raise broader awareness of systemic inequities

    Moving Forward: From Assessment to Action

    The “ACBN Rapid Labour Market Needs Assessment Report” provides an evidence-based foundation for addressing persistent inequities faced by Black workers and entrepreneurs in Ontario. These findings highlight the urgent need for targeted interventions and systemic reforms to create a truly inclusive economic environment.

    By implementing the report’s recommendations, policymakers, advocacy organizations, and business communities can work together to unlock the full potential of Black Ontarians and build a more equitable and prosperous province for everyone. Continued research into the key areas identified in this assessment remains critical for addressing these systemic challenges effectively.

  • What Black Entrepreneurs in Canada Told the Government: Key Insights from BEP Consultations

    What Black Entrepreneurs in Canada Told the Government: Key Insights from BEP Consultations

    In September 2020, the Government of Canada announced the Black Entrepreneurship Program (BEP) designed to support Black entrepreneurs in their recovery from the COVID-19 pandemic and foster sustainable future growth. To ensure the program effectively addressed the unique needs of Black entrepreneurs across Canada, Innovation, Science and Economic Development Canada (ISED) conducted comprehensive consultations. This post summarizes the key insights gathered during these discussions, highlighting priorities and concerns raised by Black entrepreneurs, business organizations, academics, and other stakeholders.

    The consultations took place virtually over seven weeks, including 11 sessions with 125 participants from 64 different organizations, complemented by phone calls and written submissions. The feedback directly shaped the design and implementation of the BEP.

    Key Themes from Black Entrepreneur Consultations

    Holistic Support for Black Entrepreneurs

    Participants emphasized that the type of support offered is critical to the success of Black entrepreneurs. Training and support services emerged as the most frequently requested needs, including mentoring, coaching, and capacity building. Black entrepreneurs highlighted the importance of wrap-around supports to guide them through various business development stages. These supports should be available to both new and established Black entrepreneurs, fostering a knowledge-based ecosystem. While funding was deemed extremely important, participants consistently noted that it should complement other forms of support rather than being the sole focus.

    Persistent Barriers Facing Black Entrepreneurs

    A significant portion of discussions focused on the ongoing barriers faced by Black entrepreneurs. Access to capital was identified as the most critical issue, with participants citing systemic bias and racism within the banking system as contributing factors. Black entrepreneurs also face challenges in accessing data, knowledge, and business education. Furthermore, organizations that directly support Black entrepreneurs often operate with limited resources.

    A Program By and For Black Entrepreneurs

    There was strong consensus that the BEP should be run by the Black Canadian community for Black entrepreneurs. While most agreed on the importance of this principle, some also highlighted the need to prioritize expertise alongside cultural background. Key elements for organizations leading the program included demonstrating alignment with program objectives, the ability to tailor support for Black entrepreneurs, transparency, and a history of positive engagement with the Black community.

    Building on Existing Knowledge and Avoiding Duplication

    Black entrepreneurs and organizations agreed that the program should learn from past and existing initiatives to identify what works and prevent unnecessary duplication of efforts. Streamlining program delivery through connections between relevant organizations supporting Black entrepreneurs was also suggested.

    Flexibility and Responsiveness to Diverse Needs

    The program must be flexible to address the diverse needs of Black entrepreneurs, considering varying stages of business development, industry sectors, social realities, and financial requirements. The administration of the program should also be adaptable and avoid overly restrictive definitions that might limit participation of Black entrepreneurs.

    Prioritizing a Decentralized and Local Approach

    Almost all Black entrepreneurs and participants favored a decentralized and local approach to program delivery, with some also acknowledging the importance of addressing regional differences to ensure Black entrepreneurs across Canada can access support.

    Insights into Specific Program Components for Black Entrepreneurs

    Black Entrepreneurship Loan Fund

    The size and type of funding were key concerns for Black entrepreneurs. A major suggestion was to include grants (either standalone or tied to program completion) or partially forgivable loans. Black entrepreneurs advocated for loan amounts to be determined by individual business needs, with many suggesting that the minimum loan amount should be lower than the announced $25,000, with $5,000 being a frequently mentioned figure.

    Black Entrepreneurship Knowledge Hub

    Discussions around the Knowledge Hub emphasized the importance of trust and transparency in data collection about Black entrepreneurs, which participants believed should be decentralized and potentially gathered from organizations, banks, municipalities, and chambers of commerce. The objectives of the hub should include creating and utilizing collected knowledge, driving policy change, supporting Black entrepreneurs, and integrating with education and training efforts. Participants identified significant knowledge gaps regarding barriers to access, opportunities for success, and Canadian consumption habits, highlighting the need for data to provide better context for Black entrepreneurs’ needs and long-term success.

    Black Entrepreneurship Ecosystem Fund

    Defining a “Black-led organization” was a key discussion point. Opinions varied, with the majority favoring a definition requiring at least two-thirds ownership by Black individuals, while a smaller group suggested a majority ownership (at least 50% +1). Participants also strongly emphasized the importance of addressing intersectionality within the Black entrepreneur community, ensuring inclusivity for all minorities within the minority, with a specific focus on gender, youth, linguistic minorities, and new Canadians.

    Conclusion

    The extensive consultations undertaken by ISED provide valuable insights into the needs and priorities of Black entrepreneurs in Canada. The feedback received underscores the importance of a multifaceted approach that combines financial support with tailored training, mentorship, and capacity-building initiatives for Black entrepreneurs. The emphasis on a community-led program, flexibility, and a focus on addressing systemic barriers highlights the unique challenges faced by Black entrepreneurs. The specific feedback on the Loan Fund, Knowledge Hub, and Ecosystem Fund will be crucial in shaping the effective implementation of the Black Entrepreneurship Program to support Black entrepreneurs across Canada.