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Futurpreneur's funding program for Black-led businesses has given $11M in 2 years

More than 51 per cent of the funding has gone toward supporting Black women entrepreneurs and their businesses.

Futurpreneur's funding program for Black-led businesses has given $11M in 2 years

Two years since Futurpreneur's Black Entrepreneur Startup Program (BESP) launched with RBC and the Business Development Bank of Canada, more than $11 million in funding has been disbursed.

More than 275 Black-led businesses have been supported, and more than 51 per cent of the companies that have received funding are run by women, according to a blog post from the organization.

“As we reflect on the past two years and celebrate the success of the Black Entrepreneur Startup Program, funded by RBC with additional loan support from BDC, we remain committed to empowering Black entrepreneurs across Canada,” the post reads. “We recognize that there is still much work to be done to address systemic barriers and support Black entrepreneurs, particularly Black women entrepreneurs.”

Last month, the organization hosted “Honouring Black Entrepreneurs and Inspiring the Next Generation,” an event that spotlighted Black business owners.

Futurpreneur also highlighted the work of several Black-led businesses, including Adesola Ogunsakin, founder of The Retro Bag Canada, based in London, Ont.

See videos detailing the stories of other successful Black entrepreneurs here.