Business Finance
Business Finance
The Funding Formula
Accessing financial resources is a critical factor in the success of any entrepreneurial venture. For Black entrepreneurs in Canada, however, the challenge is often magnified. According to a 2021 survey conducted by Abacus Data on behalf of the African Canadian Senate Group and Senator Colin Deacon, nearly 80% of Black entrepreneurs reported difficulties obtaining even […]
Business Finance
Bankable Businesses
Starting a business is an exciting yet challenging journey, and for Black entrepreneurs in Canada, securing the necessary capital to launch or grow a business can often feel like an uphill battle. Surveys reveal that nearly 80% of Black entrepreneurs found securing even $10,000 for their businesses difficult or impossible. This points to a persistent […]
Business Finance
Unlocking Cross-Border Funding
Today, Black entrepreneurs are uniquely positioned to leverage international funding opportunities. The primary advantage of international funding is access to larger capital pools. Many Black-owned startups encounter limited funding options in local markets, particularly in Canada, where structural inequalities complicate fundraising efforts. In contrast, international investors offer a broader range of capital with fewer biases. […]
Business Finance
Equity-Ready
Diverse entrepreneurship is essential for economic growth, and Black-owned businesses are poised to take advantage of innovative funding solutions to drive their growth. Studies indicate that the number of VC-backed deals was down 13% year over year, while dollars invested dropped 34%, underscoring the increased challenge for startups when it comes to fundraising. To attract […]
Business Finance
Insuring Your Investments
Life insurance is more than just a safety net. It’s an essential investment tool for Black business owners seeking to build generational wealth. In addition to providing financial protection for your family, life insurance policies offer strategic benefits for long-term business growth and sustainability. According to the 2024 Canadian Life and Health Insurance Facts report, […]
Business Finance
Black Business Finance
Securing financing is often one of the most significant challenges faced by Black entrepreneurs. From understanding the complexities of the banking system to navigating cultural barriers, these hurdles can feel insurmountable. Based on my insights from years in the banking sector, here are key strategies and considerations for Black business owners seeking funding. Understanding the […]
Business Finance
Banking on Black
Forging Pathways to Economic Empowerment As Chief Operating Officer of the Foundation for Black Communities (FFBC), my career has always revolved around empowering Black communities. However, my path to this role has been deeply rooted in my personal mission to bridge the financial and strategic gaps that often hinder the success of Black businesses across […]
Business Finance
From Pitch to Portfolio – VC Funding
In recent years, the conversation around diversity in venture capital has gained momentum, particularly regarding the underrepresentation of Black entrepreneurs. According to a 2021 survey from Abacus Data, only 2% of VC funding went to Black-led businesses, and 76% of respondents noted that their race made it harder for them to succeed as a founder. […]
Business Finance
