Province invests $5,000,000 in grants for Indigenous, Black and racialized entrepreneurs

The Ontario government is investing $5 million in grants over the next two years to help Indigenous, Black and other racialized entrepreneurs start or grow their businesses.

The province’s Racialized and Indigenous Supports for Entrepreneurs (RAISE) Grant Program helps to remove economic barriers by providing funding, training, and culturally-relevant services to entrepreneurs.

Speaking at Brampton Entrepreneur Centre on Thursday (March 17), Minister of Citizenship and Multiculturalism Parm Gill said investing $5 million into the grant program over the next two years will help more Indigenous, Black and racialized business owners succeed while ensuring racial equity is being built into the province’s our economic recovery efforts.

“Small businesses are the backbone of our economy, but Indigenous and racialized entrepreneurs often face barriers to financing, market opportunities and networks – key things that can make or break a business,” Gill  said.

The province says the RAISE Grant will help grow local businesses across Ontario with successful applicants receiving a $10,000 grant to facilitate innovation and growth, as well as training and coaching for sustainable economic development.

Grants can be applied for through Digital Main Street, and to be eligible for the grant businesses must be registered or incorporated and based in Ontario and owned by people who self-identify as Indigenous, Black or racialized.

Online training for RAISE will include modules about business financials, cash flow management, creating a business plan, business operations, marketing and public relations strategies, and digital transformation.

The grant will also provide culturally-relevant business coaching to assist entrepreneurs in realising their business plans and reducing barriers to information and services.

Brampton City Councillor Martin Mederios said the city is working on “identifying and removing barriers in the workplace and in the community” through its equity office and the Brampton Entrepreneur Centre.

“Brampton is a mosaic, and the diversity of our community is one of our biggest strengths,” he said.