The Province of Ontario is investing $15 million over three years in its Racialized and Indigenous Supports for Entrepreneurs (RAISE) program.

The program expects to prepare more than 1,200 Indigenous, Black and other racialized entrepreneurs, including 450 entrepreneurs, in 2023–24.

“Small businesses are the backbone of Ontario. Indigenous, Black and other racialized entrepreneurs make important contributions to our economy; however, many continue to face systemic barriers in starting and growing their businesses,” said Michael Ford, minister of citizenship and multiculturalism. “As we continue to build a stronger, more inclusive Ontario, our investment in the RAISE program will ensure the next generation of diverse entrepreneurs has the tools, resources, and capital they need to transform their passions and innovative ideas into successful and competitive businesses.”

It could also offer a one-time grant of $10,000. Moreover, online training includes modules about business financials, cash flow management, business operations, marketing and public relations strategies, and digital transformation. In partnership with DMZ at Toronto Metropolitan University, the program also provides one-on-one and small-group business coaching and networking opportunities to assist entrepreneurs in developing and achieving their business action plans, building networks, connecting to market opportunities, and accessing information and services.

Initially launched as a pilot in 2022 with an investment of $5 million, the RAISE program supported more than 400 Indigenous, Black and other racialized entrepreneurs.

“This investment in the RAISE program will help more entrepreneurs launch and grow successful businesses that contribute to building a stronger economy. Racialized and Indigenous entrepreneurs, including women, face disproportionate barriers to starting a business due to systemic racism and gender bias,” MPP for Brampton Centre Charmaine Williams said in a statement. “Our government is breaking down barriers, helping entrepreneurs grow their businesses, and building Ontario as the best province to do business in, and racialized and Indigenous people are an integral part of that.”