Hon. Amina Gerba: My question is for the Government Representative.

Senator Gold, a recent survey by the Business Development Bank of Canada shows that the mental health of our entrepreneurs is a concern. Most of the groups in question are newcomers, young business owners or women. This reality coincides with an alarming 100,000 drop in the number of entrepreneurs in Canada over the past 20 years. Senator Gold, what is the government doing about the recurring mental health issues faced by our entrepreneurs in terms of supporting them, and stemming the decline of entrepreneurship in Canada?

Hon. Marc Gold (Government Representative in the Senate): Thank you for your question. The Government of Canada has taken a number of steps in Budget 2024 to support our young entrepreneurs. These steps include $50 million over five years, starting in 2024-25, to create new mental health funding for youth that allows them easier access to the mental health care they need. This amount comes on top of the $60 million allocated over five years to Futurpreneur, which opens access by young entrepreneurs to financing, mentorship and other forms of support to help them start and grow their businesses.

Senator Gerba: Senator Gold, Black women and women from Indigenous communities face a number of challenges, ranging from problems securing financing for their businesses to systemic racism. What specific tools or resources has the government put in place to help them face these challenges?

Senator Gold: Thank you for the question. The Black Entrepreneurship Program is a partnership between the Government of Canada, Black-led business organizations, and financial institutions. With an investment of up to $265 million over four years, this program will help Black business owners and entrepreneurs grow their businesses and succeed, now and into the future.