A Beacon of Hope for Black Entrepreneurs in Canada

As we celebrate Black History Month, the British Columbia-based Black Entrepreneurs and Businesses of Canada Society (BEBC) is not sitting on the sidelines. Instead, it’s supporting Black entrepreneurs by hosting its annual Black Pitch Contest. With a grand prize of $25,000, this competition is a beacon of hope for racialized people and recent immigrants, who often grapple with financial barriers when starting or growing their businesses.

Spearheading Change Amidst Challenges

Jackee Kasandy, the dynamic founder of BEBC, brought this non-profit to life during the COVID-19 pandemic. Her own journey as an entrepreneur, stymied by the inability to secure a major loan, fuelled the creation of this platform. The contest, therefore, serves a dual purpose: it not only offers a significant financial boost but also provides access to necessary tools, resources, and networking opportunities like the Black Business Awards.

Building on Past Success

In its quest to democratize capital access for small business entrepreneurs and immigrants, the BEBC has had a successful run. Last year, the organization awarded $25,000, showcasing its commitment to fostering an inclusive entrepreneurial ecosystem. This year, the contest runs until February 16, with the top five finalists earning an opportunity to present their business ideas at the 2024 Black Business Summit.

A Testimony of Hope and Perseverance

Nadine Umutoni, a competitor and the founder of Neza Coffee, encapsulates the spirit of the contest. As a Black immigrant entrepreneur, she has faced steep challenges. However, her determination remains unshaken, adding a layer of human resilience to this competition. Her story underscores the urgent need for financial institutions to rethink their lending criteria. As suggested by the BEBC, consistent rent payments could be factored into one’s credit score, helping entrepreneurs like Umutoni to secure necessary funding.

By providing a platform for Black entrepreneurs to pitch their ideas and secure funding, the BEBC is not just supporting individual businesses. It is reshaping the narrative around racialized people’s access to capital and paving the way for a more equitable entrepreneurial landscape in Canada.