Strategic Partnerships: A Pillar for Sustainable Growth in Black Entrepreneurship

The challenges we face—whether economic, social, or systemic—are too vast for any one of us to solve alone. The old model of "command and control" leadership has given way to something far more powerful: collaboration.

Through strategic partnerships, we've created pathways where there were none, brought resources closer to those who once found them out of reach, and empowered a new generation of Black entrepreneurs contributing to our economy and society.

Like many underserved ones across Canada, our Black communities are not defined by their challenges. They are defined by their immense potential.

With the right partnerships, we can unlock that potential and turn these communities into thriving hubs of economic growth, empowerment, and success.

These partnerships go beyond transactional relationships.

They are about collaboration, where every partner shares the responsibility for the success of Black entrepreneurs and the communities they serve. As the African proverb says, "If you want to go far, go together."

By working together, we can achieve far more than we could alone. We can bridge the gap between opportunity and the communities that have been underserved for too long.

Partnerships at the Core of the Black Entrepreneurship Program

The Black Entrepreneurship Program (BEP) and the Black Entrepreneurship Loan Fund (BELF), managed by FACE Coalition , are living proof of the transformative power of partnerships.

This initiative didn't happen in isolation. It arose from a collective acknowledgment of a long-standing issue: Black entrepreneurs have faced systemic barriers to accessing the capital and resources they need to thrive.

The Government of Canada recognized this need and stepped forward with a $30 million investment in Black businesses. However, this initiative gained momentum with the partnership of institutions like the Business Development Bank of Canada ( BDC ), which invested $130 million alongside Black-led organizations and community stakeholders. Together, they form the backbone of BEP, driving measurable, lasting change.

Over the past three years, through the BELF, FACE has disbursed over $40 million across more than 500 loans to Black-owned businesses throughout Canada. These businesses have expanded, created jobs, and sparked economic activity.

But the success of this program isn't just measured in dollars—it's measured in futures—in the businesses that now have a tomorrow, in the jobs created, and in the communities revitalized. None of this would have been possible without partnership.

Partnerships as Shared Responsibility

Partnerships are not just about pooling resources—they're about sharing responsibility. Every partner has played a role in ensuring Black entrepreneurs have the resources, education, and support they need to succeed.

These partnerships have allowed us to provide critical services to entrepreneurs across the country—mentorship, business development training, and financial literacy tools.

These aren't luxuries; they are the foundations of business success. Yet, they are often the very resources Black entrepreneurs struggle to access.

What makes our partnerships truly powerful is their ability to address immediate needs and the more profound, long-term barriers facing Black entrepreneurs.

By working with government, financial institutions, and community networks, we have built a sustainable ecosystem that supports Black businesses from startup to scale-up.

Communities of Opportunity: Transforming Challenges into Strengths

Every community, no matter the challenges it faces, holds unique strengths. Recognizing and nurturing those strengths can transform underserved areas into Communities of Opportunity.

At FACE, we're not just helping businesses survive—we are building an entrepreneurial ecosystem where Black businesses thrive, grow, and fuel the broader Canadian economy.

One way we've done this is through partnerships that go beyond financial support. For example, we launched the Black Owned Business Interface (Bobi) platform, now home to over ten thousand Black-owned businesses nationwide. This platform is just one of the bridges we've built by leveraging the strengths of our partners and empowering entrepreneurs across the country.

A Call to Corporate Organizations

To truly transform underserved communities, we need the active involvement of all stakeholders, especially corporate organizations. Corporate social responsibility is about more than charity. It's about creating meaningful, lasting partnerships that benefit both the community and corporations.

When corporations partner with the community, they aren't just fulfilling a CSR obligation but investing in the future. So, I call on corporate leaders to recognize the untapped potential in our Black communities. Join us in empowering these Communities of Opportunity. Your support can provide the resources, mentorship, and exposure that Black entrepreneurs need to thrive.

The Future of Partnerships

With the Black Entrepreneurship Program nearing the end of its current cycle in 2025, partnerships will be more important than ever. The conclusion of this cycle doesn't mark the end of our journey—it marks the beginning of a new chapter where partnerships will be critical to sustaining and expanding our progress.

We must continue working with financial institutions, government bodies, and community organizations to ensure our momentum is maintained and accelerated. We must also continue challenging corporations to play their part in building a more equitable economy.

Progress is not a solo journey; it's a collective effort. Our partnerships over the years have shown us what is possible when we come together. But there's still much work to be done.

I urge all of you —whether you're a business owner, corporate leader, policymaker, or community advocate—to consider how you can contribute to this shared mission. Let's continue forming partnerships that drive growth, create opportunities, and empower Black entrepreneurs for future generations.

Thank you for your time, commitment, and partnership in this journey. Together, we can build a future where Black entrepreneurship isn't just supported—it's celebrated.

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