Building Black Businesses in Canada: BDC Study

HomeResearchBuilding Black Businesses in Canada: BDC Study

TORONTO, March 2, 2021 /CNW Telbec/ – Today, BDC released Building Black Businesses in Canada, a rare study examining the needs of, and opportunities to support, Black entrepreneurs. The report, supported by Pitch Better, provides a qualitative look at Black business owners across Canada and identifies a number of personas that bring their needs and characteristics to light.

The personas are designed to help the private and public sector understand who Black business owners are, the systematic challenges they face, and what they need to navigate them. While they tell us the story of some Black entrepreneurs, they are not representative of all.

This is our first report exploring the needs of Canadian Black businesses. We understand that this community is under-represented in research circles. This is why continuing to build on this report (and its findings) is necessary, along with providing concrete solutions to address their needs. Together with business and government leaders, we can deliver tailored programs to ensure Black entrepreneurs have the tools to perform effectively and successfully within the Canadian economy.

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna ioaliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum. Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab

Corporate Canada is Listening

"Black entrepreneurs are making a significant contribution to our communities and our country," said Michael Denham, President and CEO, BDC. "Together, we must address the long-standing inequalities that hold them back from achieving their true potential. BDC is committed to being part of the solution and we are proud to work alongside partners to listen, understand, and act to support them."

The Process: Qualitative Research

Currently, there is little data about who Black entrepreneurs are, and a lack of knowledge relating to the textures and nuances of their communities. This disconnect impacts their opportunity to become aware of, and access solutions that can help them scale. It is known that Black entrepreneurs face unique challenges in starting and growing a business – particularly around access to capital. To inform the research, Pitch Better hosted nine Virtual Town Halls with Black entrepreneurs across Canada to better understand their business operations, motivations, and financial viability. Additionally, Pitch Better has launched a new research division concentrating on data collection and analysis of Black entrepreneurs across Canada, and utilizing the data to identify gaps and propose solutions to corporate Canada and government to improve decision making and tailored program development.

English