Black Business Grants in Canada: Current Grants + Tips for Applying
Black Canadians have been vital contributors to Canada’s economic, cultural, and social fabric. However, systemic barriers have often hindered equitable access to funding opportunities.
Business grants specifically designed for black Canadians aim to address these challenges by providing financial support, fostering entrepreneurial innovation, and promoting economic equity within the community. These grants empower black entrepreneurs to overcome funding gaps, scale their businesses, and create lasting economic and social impact.
Key Takeaways
- Business grants for black Canadians provide non-repayable funding to support entrepreneurial growth, innovation, and community development.
- Funding is offered by federal and provincial governments, non-profit organizations, and private foundations.
- Typical eligibility criteria include majority ownership by black Canadians, alignment with grant objectives, and business registration compliance.
- Funds can be used for business startup costs, expansion, training programs, and technology adoption.
- Complementary funding options include loans, equity investments, crowdfunding, and mentorship programs.
What is a Business Grant?
A business grant is a financial award provided by governments, non-profits, or private organizations to support specific business activities or initiatives. These grants are non-repayable, making them an attractive funding option for entrepreneurs.
For black Canadians, business grants are designed to address systemic barriers, promote economic equity, and support entrepreneurial growth within the community.
Grants tailored to black Canadians aim to:
- Support innovation and entrepreneurship: Funding startups or expanding existing businesses.
- Promote community development: Strengthening economic resilience within black communities.
- Enhance access to resources: Providing capital to underserved entrepreneurs who face financial challenges.
Grants vs Loans for Black Entrepreneurs in Canada
Business grants and loans both provide financial support, but they differ in terms of repayment, flexibility, and financial risk. For black entrepreneurs, choosing the right option depends on their business needs and long-term goals.
| Aspect | Business Grants | Business Loans |
|---|---|---|
| Repayment | No repayment required | Requires repayment with interest |
| Financial Risk | Low risk due to non-repayable funds | Higher risk due to debt obligations |
| Flexibility | Restricted to specific purposes outlined in grant terms | Broader usage options |
| Application | Highly competitive and program-specific | Based on creditworthiness and financial health |
Grants are ideal for entrepreneurs looking to minimize financial risk, while loans may be suitable for those requiring larger, flexible funding options to scale their businesses.
Types of Black Canadian Business Grants
Federal Government Grants for Black Canadian Entrepreneurs
Federal government business grants aim to address systemic inequities, promote inclusivity, and support economic development across Canada. These grants typically focus on:
These grants are often directed towards initiatives that align with national economic priorities, such as technology adoption, sustainability, and export development.
Provincial Government Grants for Black Canadian Entrepreneurs
Provincial business grants focus on regional economic development, supporting black entrepreneurs in addressing local challenges and seizing regional opportunities. Key objectives include:
Provincial grants are tailored to address the unique needs of local businesses, offering resources that drive growth and innovation at a regional level.
Non-Profit Grants for Black Canadian Entrepreneurs
Non-profit organizations and foundations play a crucial role in fostering equity and inclusion by offering business grants to black Canadians. These grants aim to:
Non-profit grants often prioritize businesses and initiatives that focus on creating meaningful social impact, particularly in underserved or marginalized communities.
Eligibility Criteria for Black Canadian Business Grants
Eligibility criteria for black Canadian business grants are designed to ensure that funding reaches those who can benefit the most. Common requirements include:
1. Ownership and Leadership
2. Industry Relevance
3. Business Stage
4. Alignment with Objectives
5. Documentation
Meeting these criteria not only ensures eligibility but also demonstrates the applicant’s preparedness and commitment to their business goals.
Applying for Black Business Grants in Canada: Top 5 Tips
1. Identify Relevant Grants
2. Craft a Clear and Persuasive Application
3. Prepare Supporting Documents Early
4. Highlight Community and Economic Impact
5. Leverage Mentorship and Support Networks
Alternatives to Black Entrepreneur Grants in Canada
While grants are an excellent funding option, there are additional resources available for black entrepreneurs seeking financial support:
Business Loans & Credit for Black Canadian Entrepreneurs
Startup Programs for Black Canadian Entrepreneurs
Equity Investment Programs for Black Canadian Entrepreneurs
By exploring these alternatives alongside grants, black entrepreneurs can access diverse funding sources to meet their financial needs and drive long-term success.
Black Canadian Business Grants – Current Grants Available
In the sections below you’ll find a sample of the federal and provincial grants currently available for Black entrepreneurs in Canada:
No fixed amount
Investment
Description:
Venture Capital Catalyst Initiative is helping to increase the availability of capital for Canada’s high-potential innovative firms, including those in the life sciences sector and for entrepreneurs from underrepresented groups, such as women and racialized communities. Please note that VCCI does not make direct investments into companies. Under Budget 2021, VCCI is investing up to $450 million through three streams:
1. Funds-of-funds stream investing up to $350 million in funds-of-funds;
2. Life sciences stream investing up to $50 million in VC funds primarily focused on investing in high-growth potential technology companies Canada’s life sciences sector; and,
3. Inclusive growth stream investing up to $50 million in VC funds to support increased access to VC for underrepresented groups, such as women and racialized communities.
$2,000.00
Grant
Description:
The Demo Recording program supports new and emerging artists from systemically excluded groups living in B.C. to engage in sound recording and mentorship with local music producers.
This program is supported through the Vancouver Music Fund and Amplify BC.
$10,000.00
Grant
Description:
The Business Foundations program invests in growing businesses owned by people from systemically excluded groups in B.C.’s music ecosystem, to expand and develop networks, capacity, and infrastructure.
This program is supported through the Vancouver Music Fund and Amplify BC.
no fixed amount
Grant
Description:
The Talent to Watch Program supports emerging filmmakers looking to finance the production stage of their first feature film project(s).
$1,000
Grant
Description:
The Supplier Diversity Certification Pilot Program (SDCPP) offers diverse-owned businesses* financial support to obtain supplier diversity certification through one of the five following certifying bodies in Canada:
CAMSC (Canadian Aboriginal & Minority Supplier Council)
IWSCC (Inclusive Workplace & Supply Council of Canada)
CGLCC (Canada’s 2SLGBTQI+ Chamber of Commerce)
WEConnect International Canada
WBE Canada (Women Business Enterprises Canada)
$10,000.00
Grant
Description:
This program supports Ontario-based Indigenous arts professionals and arts professionals of colour, or ad hoc groups and collectives made up of Indigenous arts professionals or arts professionals of colour for professional development and skill-building opportunities that advance applicants’ work and careers. It funds all contemporary and traditional art practices that are supported at OAC. Projects can include: study and training, mentorship, internship and apprenticeship and documentation of art work.
no fixed amount
Grant
Description:
The RADIATE Tourism Program helps tourism businesses and attractions develop and market packaged tourism activities and services to local and Atlantic region travellers during fall and winter.
No fixed amount
Grant, Subsidy,
Description:
If you are an immigrant and have no work experience in North America, the Program to Assist with the Integration of Immigrants and Visible Minorities into Employment (PRIIME) could help you. It could give you the opportunity to acquire initial work experience in Quebec in your field of expertise.
Your new employer may receive wage support and a subsidy for additional costs, such as
the salary of an escort;
training costs;
the implementation of specific integration activities.
no fixed amount
Investment
Description:
Export Development Canada (EDC) has committed $200 million to invest in companies founded or led by diverse Canadians
For Canadian exporting businesses owned and led by people identifying as women, Indigenous, Black and other dimensions of diversity, one of the main barriers to growth is lack of equitable access to capital. This program helps address that challenge and create more opportunities for growth.
$30,000
Grant
Description:
The program funds the work of Ontario-based Indigenous curators and curators who are people of colour. It aims to increase the ability of Ontario public galleries, artist-run centres and other organizations to present projects by Indigenous curators and curators who are people of colour in contexts determined by the participants. The program supports relationship building between curators, galleries, and audiences. The program has two categories:
Curatorial projects by Indigenous curators
Curatorial projects by curators who are people of colour
$10,000.00
Grant
Description:
The Business Foundations program invests in growing businesses owned by people from systemically excluded groups in B.C.’s music ecosystem, to expand and develop networks, capacity, and infrastructure.
This program is supported through the Vancouver Music Fund and Amplify BC.
Businesses can apply for grants up to $10,000 to support business operations, funding up to 100% of expenses.
$250,000.00
Loan
Description:
The Black Entrepreneurship Loan Fund is a partnership between the Government, Black-led business organizations, and several financial institutions. It will provide loans up to $250,000 to Black business owners and entrepreneurs across the country.
Loans can be used for:
1. Capital investments–equipment, leasehold improvements, property improvement, office equipment.
2. Working capital–inventory, payroll, lease payments, accounts management, rent, overhead costs.
3. Short-term receivable financing (i.e. financing to service a contact).
$20,000
Grant
Description:
The Black Arts Projects Program provides support to individual artists, artist collectives of 2 or more Black artists working on a non-profit basis and incorporated non-profit Toronto Black arts organizations.
The City of Toronto supports this program through a funding allocation approved annually by Toronto City Council.
TAC recognizes the need to respond to barriers that Black arts communities face due to anti-Black racism. The program seeks to address these barriers by providing pathways to sustainable support to Toronto’s Black-led arts organizations serving Black artists. The program is designed to increase access to, awareness of, and participation in Toronto Arts Council funding by Black artists, while amplifying the work of Black artists in the city and creating avenues for sustainable art practice.
This program is multidisciplinary and recognizes a diversity of art practice, including new and emerging art forms, culturally relevant art practices, and multi/ interdisciplinary arts projects. Applicants can apply for projects that engage one or multiple arts disciplines.
$350,000
Loan
Description:
Helping ambitious business owners from underserved communities get the financing, education and support they need to succeed.
$15,000
Grant
Description:
This program helps emerging and established professional artists from designated communities who have historically faced barriers to accessing funding support. Designed to support artistic growth, development, production and dissemination, the initiative is available to the following designated communities of artists:
Indigenous (Mi’kmaq as well as other First Nations, Métis and Inuit)
African Nova Scotian
Black
Racialized people of Asian, Latin American, Middle Eastern, or mixed racial descents
Artists who are deaf, partially deaf, or hard of hearing
Artists who have disabilities
Artists who have mental illness or are mad-identifying
$20,000
Accelerator
Description:
As an economic development agency, Ontario Creates’ priority is to support the growth and development of business entities that are focused on driving commercial growth and creating job opportunities within the province of Ontario. The core objective of the AcceleratiON program is to invest in new and emerging Black- and Indigenous-owned music businesses that demonstrate high potential for economic and cultural impact
About the author
Maurice
