The federal government is putting new money behind Black entrepreneurs in Alberta, announcing a $3 million investment aimed at helping businesses grow, innovate, and create jobs.
The funding, delivered through Prairies Economic Development Canada (PEDC), will be shared between two organizations working directly with Black business owners across the province.
Half of the funding $1.5 million will go to the African Canadian Civic Engagement Council. The organization plans to use the money to expand its ANZA Entrepreneurship Ecosystem program, which supports Black youth and early-stage entrepreneurs. Through hands-on training, mentorship, and practical business guidance, the program is designed to help participants turn ideas into sustainable businesses and social enterprises.
The remaining $1.5 million will support the Black Business Ventures Association. Its focus is on strengthening Alberta’s network of Black entrepreneurs, particularly those working in innovative and technology-driven industries. The funding will be used to provide one-on-one coaching, improve collaboration within the business community, and increase visibility for Black-led tech ventures.
According to PEDC, the two projects together are expected to generate around 250 employment and skills-training opportunities offering not just financial support, but real pathways into the workforce.
The Alberta announcement marks the first portion of a broader $15.2 million renewal under the federal government’s Black Entrepreneurship Program (BEP) Ecosystem Fund.
Earlier this month, Secretary of State for Small Business and Tourism Rechie Valdez also highlighted a renewed $189 million federal investment into the Black Entrepreneurship Program during Black History Month. Since the program launched in 2021, more than 24,000 Black entrepreneurs across Canada have received support through mentorship programs, training initiatives, and business networks. In addition, over $70 million has been approved through more than 800 loans under the Black Entrepreneurship Loan Fund.
The BEP was first introduced in 2021 with a federal commitment of nearly $93 million over four years, alongside partnerships with Canadian financial institutions that brought the total investment to roughly $221 million. At the time, then–Prime Minister Justin Trudeau said the COVID-19 pandemic had exposed long-standing inequalities that disproportionately affected Black Canadians and stressed the need to rebuild the economy in a way that offers equal opportunity to all.
While Budget 2024 noted that $265 million had been committed to the program since 2015, Budget 2025 introduced few new measures specifically targeted at Black Canadians. Instead, it pointed to broader initiatives including stronger anti-money laundering laws and the creation of a Financial Crimes Agency that the government said would also support racialized communities.
For Black entrepreneurs in Alberta, however, the newly announced funding represents something more immediate: additional resources, stronger networks, and renewed federal backing at a time when access to capital and mentorship remains critical for long-term business success.
