Celebrating four years of supporting Black entrepreneurs 

In March 2021, the Futurpreneur Black Entrepreneur Startup Program (BESP), funded by RBC, launched with a clear mission: to provide Black entrepreneurs across Canada with access to the capital, mentorship, resources and networks they need to succeed. 

Since then, the impact speaks for itself: 

• $20.5 million in loan financing and follow-on loan financing disbursed; 

• 511 Black-owned businesses supported; and 

• 50% of supported Black-owned businesses are women-led. 

These numbers tell part of the story, but for me, BESP’s impact is personal. 

Why this work matters to me 

Like many Black professionals, I spent years in corporate spaces as the only Black woman in the room. I mastered code-switching, learned how to shape-shift to fit in, but the higher I climbed, the more disconnected I felt from my purpose. 

In 2017, I walked away from corporate and started consulting. A lot of my time went to Black non-profits and grassroots organizations. I wanted to contribute to a community that was too often overlooked and underfunded. 

Then BESP found me. 

A friend sent me a job posting at Futurpreneur in 2022. I applied, thinking, “Why not?” But the more I engaged with the organization, the more I saw something rare: real commitment to diversity, not just in words but in action. A Head of DEI at the senior leadership level? In a climate where companies are quietly backing away from diversity efforts, that means something. 

When the opportunity to lead BESP came, I took another leap. And it changed everything. 

A program that’s reshaping the economic landscape 

Let’s be real, Black entrepreneurs face systemic barriers that make success harder. Limited access to capital, a lack of mentorship, and fewer industry connections make it tougher to scale a business. According to BDC, 84% of Black entrepreneurs are the first in their immediate or extended family to own a business, a rate higher than their non-Black peers.¹ Despite these challenges, community support is strong, with 95% of Black business owners having previously supported another Black-owned business.  

That’s why BESP isn’t just about financing; it’s about shifting the landscape entirely. 

We’re not just investing in Black businesses. We’re investing in Black entrepreneurs—their ideas, their resilience, their ability to innovate and lead. 

Take David Owasi, for example. He built Outreach Genius, an AI-driven marketing company in Winnipeg. In just 18 months, his team expanded tenfold, proving that Black tech founders are leading innovation in unexpected places. 

Or Jayrell Diggs, who turned his frustration with juggling laundry and school into SudDrop, a Halifax-based fast-growing laundry service that’s now expanding beyond Nova Scotia. After winning a $10,000 Rock My Business Start-Up Award prize, he’s using his prize money to scale even further. 

Beyond loans: The power of mentorship & community 

Money is one thing. But access to mentorship, resources and networks? That’s where the real magic happens. 

One of the most powerful aspects of BESP is that we’re not just handing out loans; we’re creating real connections. Having a mentor who understands your reality, who’s navigated the same barriers, changes everything. Because when you see someone who looks like you win, you realize you can win too. 

Through financial literacy workshops, business planning support, and peer-to-peer connections, we’re making sure Black entrepreneurs don’t just launch their businesses; they successfully sustain and scale them. 

Looking ahead: Expanding our reach 

None of this would be possible without RBC. As BESP’s founding partner and biggest champion, RBC has been instrumental in turning a vision into reality. Their commitment to Black entrepreneurship isn’t just a pledge; it’s a game-changer. Thanks to their support, and additional loan financing from BDC, we’re reaching more Black entrepreneurs and helping them turn bold ideas into thriving businesses. 

That means: 

• Expanding beyond major urban centers: because Black entrepreneurs exist everywhere, not just in big cities; 

• Strengthening post-disbursement support: with more marketing and financial workshops so that businesses can thrive after accessing their loans; and 

• Building more networking opportunities: because sometimes, the best business advice comes from another entrepreneur who’s been in your shoes. 

The work doesn’t stop here. We’re just getting started. 

This is just the beginning. 

We’ve seen what happens when Black entrepreneurs get the right support: businesses grow, industries shift, new opportunities open up and economies flourish. 

BESP is here to make sure that continues. Through mentorship, community, and the right resources, we’re backing Black entrepreneurs who are ready to build. 

If you’re serious about taking your business to the next level, we’re here. Pull up. Let’s make it happen. 

Startup your future, today! Learn more about Futurpreneur’s Black Entrepreneur Startup Program, click here.   

Tamara Chanoine is Futurpreneur’s Director, Black Entrepreneur Startup Program. She is a bilingual marketing professional with a dynamic background of more than 15 years of experience, working with national and global brands across a mix of exciting fields like automotive, retail, government, non-profit organizations and creative agencies. 

This path led her to Futurpreneur’s Black Entrepreneur Startup Program (BESP), leading a team of dedicated individuals who are committed to offering continuous support to Black entrepreneurs, helping them start up and expand their businesses.