Fostering A More Inclusive Economy - $25 Million Allocated By The Federal Government For A New 2SLGBTQI+ Entrepreneurship Program

The Federal Government has announced a $25-million investment into an 2SLGBTQI+ Entrepreneurship Program¹ ("the Program") to increase opportunities in procurement, financing and mentorship for businesses owned by those with diverse sexualities and gender identities. The Program augments the Federal 2SLGBTQI+ Action Plan, that targets improvement of 2SLGBTQI+ rights and equality in Canada.

The Program will be funded by Global Affairs Canada through the Ministry of Small Business, Export Promotion and International Trade, and run by the Canadian Gay & Lesbian Chamber of Commerce (CGLCC), a coalition that advocates for and highlights resources for 2SLGBTQI+ entrepreneurs².

Note that there is an upcoming free and in-person event in Ottawa on August 22, 2023 (Info Café) for 2SLGBTQI+ entrepreneurs to meet with specialists from Procurement Assistance Canada.

Key Features

• The Program seeks to foster a more inclusive economy, by delivering resources, tools, and data to address systematic barriers faced by the 2SLGBTQI+ community in business ownership and development.

• The Program will have three main components:

• The Knowledge Hub: To study the experiences of 2SLGBTQI+ entrepreneurs and identifying barriers to their success;

• The Ecosystem Fund: To support organizations that provide services to 2SLGBTQI+ businesses; and

• The Business Scale-Up Program: To build capacity and programming at CGLCC, including:

• Develop a national mentorship program;

• Enhance access to corporate procurement opportunities;

• Provide support for business to export goods and services; and

• Develop a loan system for 2SLGBTQI+ entrepreneurs.

Resources for 2SLGBTQI+ Entrepreneurs

• Regional offices of The Trade Commissioners Services can assist with introductions and identifying market opportunities to relevant partners, organizations, and business associations to promote business delegations and conferences with an inclusive trade group focus or component. Supplier diversity initiatives include: business delegations abroad with in-person and virtual events like trade missions, networking and business to business meetings.

• CRA Liaison Officer Services : support for small businesses and their tax related questions.

• Evol: Supporting the development of diverse and inclusive entrepreneurship in Quebec by providing help with financing for businesses and a personalized guidance program.

• Futurpreneur: Non-profit organization that helps Canadians become business owners by providing support for loan-financing, mentorship, and business resources to diverse young entrepreneurs.

• Queertech: Not-for-profit advocacy group for gender, sex, and sexual minority professionals in the technology sector that strives to break down barriers and connect communities in the empowerment of 2SLGBTQI+ people.

• The Public Services and Procurement Canada procurement assistance coaching service (as part of its Supplier Diversity Action Plan): The service seeks to increase supplier diversity in federal procurement for diversely owned businesses. Learn more in our bulletin: "Developing Diversity in Federal Contracting - PSPC Launches Coaching Service for Bidders from Diverse Groups".

Footnotes

1. Two-spirit, lesbian, gay, bisexual, transgender, queer, intersex, and additional sexual orientations and gender identities

2. CGLCC certifies businesses as being majority owned and operated by 2SLGBTQI+ entrepreneurs and helps connect them with corporations and government bodies looking to increase the diversity of their suppliers

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.