OTTAWA — A brand new survey of Black entrepreneurs in Canada says widespread boundaries stand in the best way of Black Canadians who wish to begin and develop companies.
The survey of 342 Black entrepreneurs discovered three-quarters say their race makes it more durable to achieve enterprise, with systemic racism, entry to capital and the shortage of a enterprise community all cited as boundaries to progress.
It discovered the highest challenges are entry to funding and financing, and solely 19 per cent of these surveyed say they belief banks to do what is correct for them and their neighborhood.
The survey, commissioned by the African Canadian Senate Group and Senator Colin Deacon, additionally discovered nearly half of Black entrepreneurs are unable to pay themselves from their enterprise.
In the meantime, it discovered that networks and help are vital to empowering Black entrepreneurs and but a majority say they have no idea the way to entry helps or recommendation when challenges come up of their enterprise.
Nonetheless, the survey says 87 per cent of Black entrepreneurs report that they’re both very or considerably optimistic about the way forward for their enterprise.
This report by The Canadian Press was first revealed Might 26, 2021.
The Canadian Press