Hon. Amina Gerba: Honourable senators, when we celebrate Small Business Week, we celebrate the people who are building our country’s economy every day.

Today, I want to draw attention to the announcement by Minister Rechie Valdez on October 20, 2025, confirming a renewed investment of $189 million over five years in the Black Entrepreneurship Program.

This renewed investment reflects Canada’s commitment to inclusive and sustainable growth. Since 2021, the Black Entrepreneurship Program has provided concrete tools such as funding, mentorship and business networks to help Black entrepreneurs overcome systemic barriers.

Of this new funding, $67 million will go to the Black Entrepreneurship Loan Fund, administered by the Federation of African Canadian Economics, or FACE, providing capital that enables Black-owned businesses to innovate, grow and build generational wealth.

As a past entrepreneur myself and after working with many other entrepreneurs, I realized that systemic barriers are not a thing of the past: Even with comparable diplomas and solid business plans, Black entrepreneurs still struggle to earn the trust of financial institutions. For them, success demands additional effort and exceptional resilience.

That is why the Black Entrepreneurship Program is essential. It must be maintained, expanded and made permanent to ensure equitable access to capital, mentorship and networks so that these entrepreneurs can fully contribute to Canada’s economy.

Honourable senators, as we celebrate Small Business Week, let’s renew our commitment to fostering an environment where every Canadian gets the chance to succeed. Let’s celebrate the resilience, creativity and determination of Black entrepreneurs and all small business owners whose contributions enrich and strengthen our country.

Thank you.