Greetings. Hello everyone. From Ottawa, unceded Algonquin territory.
Thank you, Mary for all your outstanding work as Minister of Small Business, Export Promotion
and International Trade. It’s great to be joined today by members
of our own team, and leaders within banks and organizations from across the country.
I know you’re all committed to addressing structural barriers faced by Black entrepreneurs
and business owners, so thank you for being here this morning.
Before I get into why we’re here today, I want to talk about the heart-breaking news
that 215 children were found buried at the former Kamloops residential school.
215 children. Think of their loving families that they were
ripped away from. Think of the communities that never saw them
again. Think of their hopes, their dreams, their potential.
Of all they would have accomplished, all they
would have become. All of that was taken away.
These were children who deserved to be happy. Most of all, they deserved to be safe.
As a dad, I can’t imagine what it would feel like to have my kids taken away from
me. And as Prime Minister, I am appalled by the
shameful policy that stole Indigenous children from their communities.
Our thoughts are with Tk’emlúps te Secwépemc First Nation, and with all Indigenous communities
across Canada. Sadly, this is not an exception or an isolated
incident. We’re not going to hide from that.
We have to acknowledge the truth. Residential schools were a reality — a tragedy that
existed here, in our country, and we have to own up to it.
Kids were taken from their families, returned damaged or not returned at all with no explanations
until this week. People are hurting and we must be there for
the survivors. Later this afternoon, I will be talking directly
with Ministers Bennett, Miller, and Vandal, and with all Ministers, about the next and
further things we need to do to support survivors and the community.
We promised concrete action, and that’s how we’ll support survivors, families, and
Indigenous peoples. To honour the 215 children who lost their
lives at the former Kamloops residential school, as well as residential school survivors and
their families, the flags on federal buildings will fly at half-mast until further notice.
It is important to raise awareness and provide education on this dark chapter of our country’s
history. The tragic legacy of the residential schools
is still present today, and through concrete action, our government will continue to support
survivors, their families and their communities across the country.
And now, I want to talk about today’s announcement. Lately, we’ve been focusing a lot on “building
back better.” Today, we’re here to take yet another step
in making that stronger, more equal future, a reality for all Canadians.
Whether it’s the business organizations I met last year with Greg, or people like
Fahiye who I spoke with, with Marci, about his growing coffee business — I’ve seen
first-hand how hard you, as Black entrepreneurs work, and how much you do to create jobs and
lift communities up. I’ve also heard you when you talk about
the challenges you face, too. And this includes accessing loans and capital
from financial institutions. For far too long, Black Canadians have faced
systemic barriers when it comes to starting or growing a business.
That’s why the Black Entrepreneurship Loan Fund launches today.
This $291 million fund will allow Black entrepreneurs and business owners to access loans from $25,000
to $250,000. Today’s announcement builds on the work
we’ve already started through the first-ever Black Entrepreneurship Program we announced
last fall, a program that includes investments in everything from mentorship to financial
planning. To Black entrepreneurs and business owners
in Canada: our government has heard you, and we’re working with you.
Because we know that to rebuild an economy that works for everyone, we must break down
the barriers you face to create real economic inclusion.
We know that entrepreneurs from Black communities have the talent and ideas necessary to go
far. Today, with the Black Entrepreneurship Loan
Fund, we want to provide you with even more tools for success.
In order to build a country that works for everyone, we have to ensure that our economy
is inclusive. In this regard, I would like to thank the
Federation of African Canadian Economics and the financial institutions that work in partnership
with the federal government on this fund. With you, more people will be have an equal
opportunity to grow their business and make their dreams come true. Already, Black entrepreneurs
and business owners contribute so much to our community and our economy.
I think of the Black business owners I’ve met who talk not just about building their
own future, but about giving back to those around them.
With the right tools and support, these entrepreneurs will be able to create even more good jobs,
and even more opportunities for people across the country.
Supporting Black businesses with long-term solutions is an important step forward to
build the Canada we want, with a strong economy where everyone has a real and fair chance
at success. Today’s announcement is a step in the right
direction, but we know that there is still a lot of work to do.
We also know that the pandemic has had a disproportionate impact on the Black community.
While fighting systemic racism experienced by Black Canadians in the business world,
we must also keep on fighting to eliminate inequalities elsewhere, for instance in the
health care and justice systems. More than ever, while we rebuild our economy,
our government will continue to be there to ensure that everyone’s voice is heard.
Thank you.