Ontario Expanding Economic Opportunity for Entrepreneurs
|NEWS RELEASE New business grant supporting Indigenous, Black and other racialized entrepreneurs
March 17, 2022
Ministry of Citizenship and Multiculturalism
|The Ontario government is investing $5 million over two years in a targeted program to help Indigenous, Black and other racialized entrepreneurs start or grow their business. The Racialized and Indigenous Supports for Entrepreneurs (RAISE) Grant Program helps to remove economic barriers by providing funding, training, and culturally-relevant services to entrepreneurs. “Small businesses are the backbone of our economy, but Indigenous and racialized entrepreneurs often face barriers to financing, market opportunities and networks – key things that can make or break a business,” said Parm Gill, Minister of Citizenship and Multiculturalism. “That’s why our government is investing $5 million in the RAISE Grant Program to help more Indigenous, Black and other racialized business owners succeed. We are embedding racial equity into our economic recovery efforts and plans for long-term growth to build a stronger Ontario.” The RAISE Grant will help grow local businesses across Ontario and will be delivered through Digital Main Street, the Toronto Association of Business Improvement Areas (TABIA), and the Ontario Business Improvement Area Association (OBIAA) in collaboration with the Parkdale Centre for Innovation. Successful applicants will receive a $10,000 grant to faciliate innovation and growth, as well as training and coaching for sustainable economic development.
Online training for RAISE will include modules about business financials, cash flow management, creating a business plan, business operations, marketing and public relations strategies, and digital transformation. RAISE will also provide culturally-relevant business coaching to assist entrepreneurs in realizing their business plans and reducing barriers to information and services.
The Ontario government is removing barriers to economic opportunity, advancing racial equity and supporting local communities to build a stronger, more inclusive province for everyone.