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Black entrepreneurs say access to capital among challenges to success, survey finds

OTTAWA A new survey of Black entrepreneurs in Canada says widespread barriers stand in the way of Black Canadians who are looking to start and grow businesses. The survey of 342 Black entrepreneurs found three-quarters say their race makes it harder to succeed in business, with systemic racism, access to capital and the lack […]

Black entrepreneurs face broad barriers: survey

Access to capital, low trust in banks cited as barriers to Black entrepreneurs

IE staff, with files from Canadian Press A new survey of Black entrepreneurs in Canada says widespread barriers stand in the way of Black Canadians who are looking to start and grow businesses, including a lack of access to capital and low trust in banks. The survey of 342 Black entrepreneurs found that three-quarters said their race makes it harder to succeed in business, with systemic racism and the lack of a business network cited as barriers to growth. It found the top challenges are access to funding and financing, and only 19% of those surveyed said they trust banks to do what is right for them and their community. Three-quarters of respondents said it would be difficult to find $10,000 if they needed it to support their businesses.

Access to capital, low trust in banks cited as barriers to Black entrepreneurs

Access to capital, low trust in banks cited as barriers to Black entrepreneurs
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