Government of Canada renews support for Black-led organizations in Atlantic Canada
News release
Funding is now available for eligible organizations in the region through the Black Entrepreneurship Program Ecosystem Fund
November 19, 2025 · Moncton, New Brunswick · Atlantic Canada Opportunities Agency (ACOA)
Black entrepreneurs are driving innovation, creating jobs and building a stronger, more inclusive Canadian economy. To help them take their businesses to the next level, the Government of Canada is investing an additional $189 million, over five years, in the Black Entrepreneurship Program (BEP), empowering entrepreneurs to access capital, scale up, and unlock new opportunities for growth.
Today, the Honourable Sean Fraser, Minister of Justice and Attorney General of Canada and Minister responsible for the Atlantic Canada Opportunities Agency, announced funding for eligible Atlantic Canadian organizations through the Black Entrepreneurship Program (BEP) Ecosystem Fund. Through this renewed investment, ACOA is delivering $6.8 million in Atlantic Canada to strengthen Black-led non-profit organizations and help more Black entrepreneurs access the tools and support they need to start, grow and succeed in business.
Supporting Canadian businesses in every community is how we build Canada strong. This investment strengthens Canada’s Black entrepreneurship ecosystem and ensures that Black business owners across Atlantic Canada have the tools and opportunities they need to thrive — building a stronger, more inclusive economy for everyone. This renewed investment also supports the federal government’s efforts to address systemic barriers faced by Black entrepreneurs and improve access to the capital and services needed to grow their businesses.
For further information on how to access funding, please visit ACOA’s website.
Quotes
“The strength of Canada’s economy comes from the talent and tenacity of our people. When Black entrepreneurs can access capital, mentorship and reliable data, they turn ideas into jobs and community prosperity. This $189 million investment to renew the Black Entrepreneurship Program will help more Black entrepreneurs start up, scale up and build a stronger economy for all Canadians.”
- The Honourable Rechie Valdez, Minister of Women and Gender Equality and Secretary of State (Small Business and Tourism)
“We are investing $6.8 million through ACOA to help Black-led organizations in Atlantic Canada expand their programs for entrepreneurs. This funding will give more business owners access to the capital, training, and support they need to grow and create jobs in our communities.”
- The Honourable Sean Fraser, P.C., K.C., Member of Parliament for Central Nova, Minister of Justice and Attorney General of Canada and Minister responsible for the Atlantic Canada Opportunities Agency
Quick facts
-
The Black Entrepreneurship Program (BEP) provides financing and advisory services to Black entrepreneurs across the country, as well as data and research on the challenges and opportunities for Black entrepreneurs and business owners. It includes three components:
- up to $105.4 million allocated to the regional development agencies (RDAs) to continue delivering the BEP Ecosystem Fund across Canada, and
- up to $7.5 million allocated for the Black Entrepreneurship Knowledge Hub, for research to improve the quality and availability of data on the Black entrepreneurship ecosystem in Canada; and
- up to $67 million allocated for the Black Entrepreneurship Loan Fund to provide loans of up to $250,000, in collaboration with the Business Development Bank of Canada, to Black business owners and entrepreneurs across the country.
-
To date, the Black Entrepreneurship Program (BEP) has supported more than 24,000 Black entrepreneurs across Canada, approving 801 loans representing more than $70.6 million.
Associated links
Contacts
Lola Dandybaeva
Manager of Media Relations
Office of the Minister of Justice and Attorney General of Canada and Minister responsible for the Atlantic Canada Opportunities Agency
343-549-0347
lola.dandybaeva@justice.gc.ca
Media Relations
Atlantic Canada Opportunities Agency
mediaroom-salledesmedias@acoa-apeca.gc.ca