Afro Caribbean Business Network

Tag: research

  • Impact Investing in Canada: How the Definity Foundation is Redefining Capital and Equity with Arti Freeman

    Impact Investing in Canada: How the Definity Foundation is Redefining Capital and Equity with Arti Freeman

    In a powerful conversation with Arti Freeman, CEO of the Definity Foundation, we explored how the organization is leveraging all forms of capital—not just grants—to create what they call a justice model of philanthropy. For Black entrepreneurs and community leaders, their approach offers valuable lessons on impact, equity, and sustainable growth.

    A Justice Model for Philanthropy

    Founded in 2018 with $100 million from the demutualization of Economical Insurance (now Definity Insurance), the Definity Foundation has made equity its central purpose. Instead of a traditional charity model, DF embraces a justice model of philanthropy—acknowledging historical wrongs while investing in Black, Indigenous, racialized, and equity-seeking communities.

    Particular attention is given to women and youth of colour, who are often the furthest behind in access to resources and opportunities.

    Key Insights for Business Owners

    1. Think Holistically About Capital

    DF reminds us that true equity requires more than just financial resources. They leverage:

    • Financial Capital: including impact investing.

    • Human Capital: the skills and expertise of their team.

    • Social Capital: networks, influence, and partnerships.

    • Physical Assets: spaces and infrastructure that can be repurposed for equity work.

    Lesson: Entrepreneurs should also map their holistic assets. Beyond money, how can your networks, knowledge, or spaces fuel equity and innovation?

    2. Align Investments with Purpose

    One of DF’s early moves was investing in Raven Indigenous Capital Partners. This impact investing strategy ensures resources create equity, not just returns.

    Lesson: Business owners can also align reserves, supply chains, or partnerships with impact-driven values. Every dollar should advance your mission.

    3. Trust Community Ingenuity

    DF’s relational model trusts that communities already have the brilliance to solve their own challenges. Their role is to provide flexible, long-term funding and reduce traditional power imbalances.

    Lesson: Instead of micromanaging, provide flexible support to your teams and partners. Innovation thrives when those closest to the challenge lead.

    4. Make Learning Your Strategy

    DF is committed to testing, adapting, and evolving quickly based on feedback.

    Lesson: Entrepreneurs should adopt the same mindset—launch, learn, and adjust. Courageous action and humility to learn are the real growth engines.

    5. Choose Collaboration Over Competition

    “The days of the Lone Wolf are over,” Freeman notes. DF works alongside other foundations, sharing knowledge and due diligence to accelerate change.

    Lesson: Entrepreneurs can achieve more by collaborating—sharing insights, resources, and strategies—to strengthen the entire ecosystem.

    Building the Future Together

    The Definity Foundation is proving that impact investing in Canada can go beyond grants and create systemic change. Their work challenges us to rethink how we use our assets, relationships, and influence to advance justice.

    For business owners in the ACBN network, the takeaway is clear: equity and impact are built collectively, not in isolation.

    🎥 Watch the full interview with Arti Freeman here: YouTube Interview

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

  • 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

  • Fundraising in Canada: Unlocking Capital and Impact for Black Entrepreneurs with Andre Beaudry

    Fundraising in Canada: Unlocking Capital and Impact for Black Entrepreneurs with Andre Beaudry

    At ACBN, our work is rooted in the proverb “I am because we are.” Collaboration, collective power, and community investment are at the heart of building lasting impact.

    We recently sat down with Andre Beaudry, Founder of Velocity Collaboration and a veteran of Canada’s fundraising ecosystem, to uncover essential insights for business owners and organizations navigating philanthropy. His expertise offers practical strategies on fundraising in Canada—from securing corporate partnerships to tapping into generational wealth—and shows how Black entrepreneurs can mobilize resources to create transformational change.

    The Secret to Securing Funds: Alignment and Accountability

    At its core, fundraising is about aligning values. Success comes when your vision connects directly with a donor’s priorities.

    Fundraisers act as the bridge between philanthropists—who want to create impact—and entrepreneurs, who know how to make it happen. For business owners, demonstrating accountability and keeping donors informed is crucial for building trust and long-term relationships.

    Philanthropy is especially vital in Canada. Government funding leaves gaps in healthcare, education, childcare, and community services—and your business or organization may be the solution donors are seeking.

    Where the Capital Is: Canada’s Largest Asset Pools

    To elevate your fundraising in Canada, you must know where the biggest opportunities lie:

    1. Corporate Canada (ESG focus): Companies are increasingly investing in Environmental, Social, and Governance (ESG) initiatives. Align your mission with their goals to unlock powerful partnerships.

    2. The Aging Population: One of the wealthiest cohorts in Canadian history is ready to give. Their focus is legacy and measurable impact. Craft your message around long-term change.

    3. Creative Assets: Beyond cash, donors can gift real estate or other assets. Through tools like charitable remainder trusts, they receive immediate tax benefits while your organization gains long-term stability.

    Scaling Up: Lessons from Capital Campaigns

    If you’re planning a major project, understanding capital campaign strategy is essential:

    • Do your research: Be clear about your priorities before asking for money.

    • Run a feasibility study: Interview current and potential donors to determine what resonates and how much you can realistically raise.

    • Use a Quiet Phase: Raise 70–75% of your goal privately before launching publicly to protect your brand.

    • Empower volunteers: Campaign success often comes from well-connected volunteers making direct asks.

    Collaboration Is the Key to Lasting Impact

    For small organizations and entrepreneurs, collaboration is not optional—it’s a necessity. Partnering with others allows you to share costs, strengthen influence, and achieve far greater results together.

    Final Insight: Fundraising in Canada is not just about money. It’s about building relationships, pooling community power, and creating opportunities for collective liberation.

    Watch the Full Interview

    For more on fundraising strategies, asset pools, and collaborative approaches, watch our full conversation with Andre Beaudry here: Watch on YouTube

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

  • Navigating the Promise and Pitfalls of Social Finance in Canada: Insights from Heather Simpson

    Navigating the Promise and Pitfalls of Social Finance in Canada: Insights from Heather Simpson

    At ACBN, our foundation is the proverb “I am because we are.” We believe in ecosystem mobilization—sharing knowledge, uncovering challenges, and building pathways to collective success.

    We recently sat down with Heather Simpson, Founder of S4G and a consultant specializing in non-profits and social enterprise, to explore the opportunities and realities of social finance in Canada. Her insights shed light on how this emerging system could reshape access to capital for historically underserved communities and what business owners should keep in mind as the Social Finance Fund (SFF) rolls out.

    Where Social Finance in Canada Shows the Most Promise

    The Social Finance Fund was designed to drive investment into areas overlooked by traditional capital markets. According to Heather, two sectors stand out:

    1. Affordable Housing and Social Purpose Real Estate
      These are tangible, real assets lenders understand—essentially mortgage lending—and they meet urgent societal needs.

    2. The Environmental Sector and Net Zero Commitments
      As Canada moves toward its Paris Agreement goals, the demand for environmental technologies and services will grow. The SFF could help de-risk these emerging markets where traditional investors hesitate.

    Profitability and Earned Income: Facing Reality

    Many non-profits and social enterprises dream of replacing grant dependency with earned income. Heather reminds us:

    • Margins are tight. Like most small businesses, social enterprises typically provide stability and jobs, but rarely massive profits.

    • Unrealistic expectations lead to disappointment. A social enterprise cannot be expected to outperform traditional businesses while also carrying social deliverables.

    • Philanthropic capital still matters. Social finance is a tool, not a full replacement for grants.

    Key takeaway for entrepreneurs: Earned income is powerful, but it works best when combined with other funding streams.

    Access Depends on Intermediaries

    For social finance in Canada to reach marginalized entrepreneurs, the choice of intermediaries—those who distribute the funds—is critical.

    • Trust and localization matter. Without community-rooted lenders and loan funds, many racialized and immigrant-owned businesses won’t benefit.

    • Specialized programs are required. Tools like guarantee funds, loan loss pools, and operational subsidies are essential to support smaller, riskier, or unconventional borrowers.

    What Must Be Clarified for Success

    Heather points out that the SFF will only succeed if it:

    1. Commits to disaggregated data to track who is receiving capital—and who is not.

    2. Focuses on demand-side metrics like loan applications and decline reasons, not just money disbursed.

    3. Builds sector capacity through grants and training so organizations can realistically prepare for financing.

    4. Clarifies its main focus. If housing and real estate are priorities, this must be transparent so organizations don’t waste time chasing inaccessible funds.

    Closing Thought: Building Equity Through Finance

    The rollout of the Social Finance Fund is a once-in-a-generation opportunity. Done well, it could reshape how racialized communities, non-profits, and social purpose businesses access the capital needed to build equity and long-term sustainability. Done poorly, it risks reinforcing the same barriers it was designed to dismantle.

    Watch the full interview with Heather Simpson here: Watch on YouTube

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

  • Social Innovation and Decolonization: Insights from Graham Singh on the 500-Year Shift

    Social Innovation and Decolonization: Insights from Graham Singh on the 500-Year Shift

    At ACBN, we live by the principle I am because we are. That philosophy pushes us to mobilize ecosystems, share knowledge, and engage with thought leaders who help us navigate profound changes shaping our world.

    In our recent conversation, Graham Singh, CEO of the Trinity Centres Foundation, explained why we are living through what he calls a “once in 500-year operating system revolution.” His insights highlight the deep link between social innovation and decolonization, and why business owners must adapt if they want to remain relevant and impactful.

    Here are the key takeaways every Black entrepreneur should know.

    1. The once-in-500-year shift

    Singh describes the transformation of Abrahamic faiths as a generational revolution that began around the Second World War and is now accelerating.

    What this means for entrepreneurs:

    • Systemic change is permanent. The “old ways” of controlling institutions are not coming back.

    • Inclusion is the new standard. Equity, diversity, and inclusion are no longer optional—they are core to doing business in this era of decolonization.

    • Innovation follows disruption. When large systems shift, new opportunities emerge. Business owners must position themselves within this new landscape.

    2. Creativity beyond the walls

    Faith communities built schools and hospitals, but Singh notes that much of today’s most innovative work is coming from outside institutional walls—from those who have been “de-churched.”

    Insight for business owners: Innovation thrives where constraints are removed. If you want bold, transformative ideas, look beyond conventional circles. Tap into talent and communities that operate outside of legacy systems—they’re often the ones building tomorrow’s solutions.

    3. Social outcomes and finance go hand in hand

    Singh emphasizes that social innovation and decolonization can’t just be moral goals—they must be tied to financial models. For example, reducing loneliness and isolation through community-building produces measurable health and social outcomes.

    Why it matters for entrepreneurs:

    • These outcomes are investable.

    • Businesses that link social good with measurable financial returns are positioned for long-term sustainability.

    • The future of growth lies in connecting social innovation to social finance.

    Conclusion: Innovation is the path forward

    For Black entrepreneurs, Graham Singh’s message is clear: we are living in an era of systemic change, and those who embrace social innovation and decolonization will lead. The opportunity is not to restore the old—but to build the new.

    Watch the full interview with Graham Singh here: Watch on YouTube

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

  • Sheridan College Partners with Afro Caribbean Business Network

    Sheridan College Partners with Afro Caribbean Business Network

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    RESEARCH TO SUPPORT BLACK ENTREPRENEURS

    For immediate release (Mississauga, ON) Jan. 19, 2020: The Afro-Caribbean Business Network (ACBN)  and Sheridan’s Pilon School of Business (PSB)  partner on a new research project. The research project aims to identify the needs of Black entrepreneurs and develop meaningful recommendations and resources to help build their business capacity. Black entrepreneurs have faced unprecedented barriers in the marketplace worldwide for decades. Access to funding and economic stability are some of the biggest challenges faced, which have been heightened during the COVID-19 pandemic. 

    The two-year research agreement will include data collection, the development of a best practices guide for Black entrepreneurs, the creation of a training curriculum and a mentoring program.

    Founded in 2018, the ACBN works to unify and educate Black entrepreneurs in its network of more than 3000 businesses. We have cultivated a community for Black business owners where they can cross-promote their products and services to build their ventures and participate in relevant business and personal growth workshops. 

    Ryan Knight, President of ACBN  says: “Our biggest challenge as a community is our invisibility in current data. Race-based data has not been historically collected therefore, the actual reality that many entrepreneurs face in the Black community is not adequately reflected.” 

    Nicola Harris, Community Research Lead for ACBN and PhD candidate in Organizational Leadership. says “ACBN is  thrilled to partner with the Pilon School of Business at Sheridan College to produce data that will inform the creation of the support that Black entrepreneurs need to address their challenges.

    Research findings and complimentary resources will support Black entrepreneurs as well as help to inform future post secondary curriculum planning for Black entrepreneurs. 

    For full official press release by Sheridan College  please visit https://www.sheridancollege.ca/newsroom/news-releases/2021/01/Sheridan-and-Afro-Caribbean-Business-Network-partner-on-research

    ACBN Media contact:

    Nicola Harris
    Community Research Lead
    Nicola.Harris@acbncanada.com

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