Okwera Academy’s Post

Are you passionate about fostering diversity, empowering communities, and driving economic growth? If so, we have an exciting initiative to share with you! Here's why we believe that a chapter of the African American Entrepreneurs Association (AAEA) is essential for your city: ✨ Empowerment: By providing a platform for African American entrepreneurs, we empower individuals to thrive in the business world, regardless of their barriers. ✨ Representation: Representation matters! Our organization ensures that the voices and experiences of African American entrepreneurs are heard and valued in our local business landscape. ✨ Networking and Support: Building a successful business can be challenging, but with our network of like-minded individuals, members can access valuable support, mentorship, and collaboration opportunities. ✨ Economic Growth: Supporting African American businesses isn't just about diversity; it's also about driving economic growth. By fostering the success of these entrepreneurs, we contribute to the overall prosperity of our city. ✨ Community Impact: We believe in giving back! Through initiatives such as community outreach programs, educational workshops, and partnerships with local organizations and resource partners, we aim to make a positive impact beyond the business realm. Join us in championing diversity, fostering entrepreneurship, and creating a vibrant, inclusive business community! Together, we can achieve greatness. 💼✨ www.aaeassociation.org #AAEA #DiversityInBusiness #Empowerment #CommunityImpact #YourCity #Entrepreneurship

Is It Really Ambition, or Is It Canada’s Business Ecosystem That Holds Entrepreneurs Back? I recently came across an article on BetaKit written by Douglas Soltys where Harley Finkelstein and Shopify CEO Tobias Lütke discussed the need for more ambition in Canada's entrepreneurial scene. Tobias Lütke specifically called out Canada’s “go-for-bronze” culture, claiming that ambition is a core problem. (https://lnkd.in/ecjd-jeZ) But let’s be honest—ambition alone won’t fix a broken system. The real issue isn’t just a lack of drive (we actually want to get gold!). It’s the structural barriers baked into Canada’s business ecosystem that hold back so many entrepreneurs, especially Black entrepreneurs. At The Inclusivity Institute for Better Data (IIBD), we’ve seen firsthand how #algorithmic biases and #proxy variables—like #geographic location and #credit scores—unfairly penalize Black entrepreneurs when they seek funding. It’s not about ambition. These entrepreneurs have plenty of that. It’s about #access—and right now, the system is designed to keep them out. One point I did agree with 'we’re also dealing with the worst year for VC fundraising in a decade, combined with tax changes that are killing investment opportunities for startups'. As such combined with structurally racism even the most ambitious entrepreneurs can’t succeed in an ecosystem where the odds are stacked against them. Check out our petition: Call to Action: Legislation to Eradicate Anti-Black Racism in Banking Practices 👉🏾 Sign the petition here: Change.org: https://lnkd.in/eq9BmAiy NewMode: https://lnkd.in/ePaB6-iv 👉🏾 Support our efforts by contributing here: Fund This Cause: https://lnkd.in/d6cGVcEt 👉🏾 To learn more, share your experience, and become more involved, contact us at: external.relations@inclusivityinstitute.ca Thank you for standing with us in this crucial cause! Join the conversation: #BlackEntrepreneurs #Advocacy #SupportBlackBusinesses #ItIsNotOK #Entrepreneurship #RacialEquity #FundTheCause

We believe in the power of every entrepreneur to dream big and create meaningful change.  We can’t afford to let any untapped potential go to waste, especially when more productive businesses are key to addressing Canada’s economic challenges. That’s why we’re introducing our Community Banking initiative! 🎉 By working together with up to 80 community organizations, we aim to help launch 100,000 new small business success stories over the next decade. Together, we’re striving to boost the number of small businesses in Canada by 10%, making a significant impact on our economy. By combining our expertise with local insights, we can accelerate the pace in getting more entrepreneurs financed to grow. Canada’s economy needs this now more than ever, and we’re ready to make it happen. Let’s empower the next generation of small business trailblazers and strengthen support for entrepreneurs nationwide! To learn more : https://ow.ly/RHke50UbMWI

Getting credit into the hands of small businesses that may traditionally get declined while starting and scaling is critical and this program will help do that! Credit Unions are great organizations to partner with to get this into communities across Canada, so looking forward to seeing the partnerships BDC creates with them as they launch this program! #creditunions #smallbusiness

BDC has launched Community Banking so we can ensure that no entrepreneur is left behind! By working with up to 80 partners we aim to impact 100,000 new small businesss over the next decade. Why is this so important? OECD research shows commercial financing to Canadian companies grew by 165% since 2011, but the percentage of these new loans going to Small and medium sized businesses decreased from 16% to 8.6%. This is especially true for small businesses with unconventional business models, those in rural/remote areas, little credit history, from younger age groups, or from underserved or underrepresented groups. I am excited to see the impact Community Banking will have on Canadian businesses! To learn more see the post below!

Celebrating Small Businesses during #GlobalEntrepreneurshipWeek! Over 70% of our members are small businesses with 15 or fewer employees, making a big impact on our local economy. In honor of Global Entrepreneurship Week, the Honourable Rechie Valdez, Minister of Small Business, shared a statement highlighting the vital role small businesses play in Canada. They represent 98% of all businesses, creating millions of good jobs and contributing significantly to our economy. The government is committed to fostering an inclusive economy by supporting entrepreneurs from under-represented groups, such as women, Black, Indigenous, and 2SLGBTQI+ communities. Through investments like the $60 million in Futurpreneur Canada, the government is helping expand loan eligibility for young entrepreneurs, with loans up to $75,000. These efforts aim to strengthen small businesses and help them succeed both locally and globally. Let’s continue to support our small business community—they are truly shaping a brighter future for all. View full statement here - https://lnkd.in/gJ_exWUc

From £25B to £100B 💰 We recently collaborated with NatWest and Aston University's Centre for Research in Ethnic Minority Entrepreneurship (CREME) as part of their initiative to help advance the growth potential of the UK’s ethnic minority-led businesses (EMBs) through their Time to Change Report. 🌟 The report reveals that by addressing the barriers faced by these businesses, we could potentially increase the annual GVA contribution from £25 billion to an impressive £100 billion! 📈💼 This highlights the immense untapped potential of these underserved businesses in driving the UK economy forward. A huge thank you to all the Mentors who participated in our recent workshop - your dedication is invaluable! These Mentors have matched with early-stage businesses across the UK as part of our Strive UK Mentoring programme with Mastercard Strive. 🙏 Key highlights from the report: 📊 10 evidence-based recommendations to promote greater success and inclusion of ethnic minority-led businesses 💰 Focus on improving access to finance, markets, and quality business support 🙌 Call for a UK-wide support system to boost success for ethnic-led businesses 🌱 Emphasis on integrating these businesses into broader policy agendas of inclusive growth, productivity, and innovation Check out more information and the full report so far here: https://bit.ly/4d5Pj8r

November is National Native American Heritage Month and the SBA is thrilled to announce that the upward trend for Native American/Alaska Native-owned small businesses continues: o The SBA has nearly doubled (92%) its lending dollar amount to Native entrepreneurs from FY20 to FY24, reaching $267 million in FY24 for both 7(a) and 504 lending. o Native American Contracting, including Alaska Native Corporations (ANCs), Native Hawaiian Organizations (NHOs), have experienced unprecedented growth, with a remarkable 49% increase from FY20 to FY23. o The SBA is working to invest in the next generation of Native entrepreneurs with a new Tribal College Small Business Achievement (TCSBA) program. This pilot funds four Tribal Colleges to provide free training and technical assistance to entrepreneurs. o The SBA is also prioritizing exports and has just launched the new Native American Trade Expansion Program (NATEP), where in a partnership with the National Center for American Indian Enterprise Development (NCAIED), the SBA and NCAIED will support grant funding for Indigenous exporters. o There are now 13 Native banks, or Community Development Financial Institutions (CDFIs), that lend with SBA programs, representing a 30% increase since January 2021.

Get to know Shannin Metatawabin ICD.D, CEO of NACCA, in this video interview by The Globe and Mail for Indigenous Enterprises proudly presented by Mastercard — where he discusses the unique challenges and opportunities for Indigenous entrepreneurs and the vital role of community support and mentorship. Read more about the Indigenous entrepreneurs and innovators driving the new Indigenous economy: https://lnkd.in/eEsWfa6q #IndigenousEnterprises

Black-owned businesses are a vital part of Canada's economic fabric, contributing innovation, diversity, and resilience. In 2020, approximately 144,980 Black-owned businesses were active across the country, representing 2.4% of all businesses in Canada. This #BlackBusinessMonth, CRIEC will shine a spotlight on the achievements of Black entrepreneurs and commit to supporting their growth. #BlackBusinessMonth #CRIEC #ImmigrantBusiness #BlackOwnedBusiness