In an exclusive interview with CanadianSME Small Business Magazine, Ali Soumah, a distinguished African-Canadian entrepreneur, shares his journey of breaking barriers and fostering economic growth across Canada and Africa. With over 15 years of expertise in entrepreneurship, accounting, and taxation, Ali has dedicated his career to mentoring and empowering Black entrepreneurs. As the founder and CEO of A.S Business Center Inc., he has created an ecosystem that connects start-ups, business owners, and investors, ensuring that businesses not only survive but thrive.
During Black History Month and beyond, Ali remains committed to providing Black entrepreneurs with the tools, funding, and mentorship needed to succeed. From addressing systemic challenges in Canada to bridging investment opportunities between Africa and North America, his impact is reshaping the entrepreneurial landscape. In this insightful conversation, he discusses the unique challenges Black business owners face, the importance of representation, and his vision for a more inclusive and prosperous future.
Meet Ali Soumah, an African-Canadian entrepreneur, whose mission is to contribute to the economic development of both parts. With 15 years of experience and expertise in entrepreneurship, accounting and taxation (including SR&ED), he became a coach and a mentor in entrepreneurship and business innovation. He has inspired many people to become entrepreneur sawy by encouraging their entrepreneur mindsets, implement their business ideas, and giving them the courage to take their destiny in their own hands and become successful entrepreneurs.
He is the founder and CEO of Ali Soumah Business Center Inc. called A.S Business Center, a consulting firm that helps start-ups and existing businesses turn their business ideas into reality.
– IN CANADA: His focus is to help start-ups and existing businesses to scale up through strategy development, financing solutions and coaching. He also supports the development of rural areas working closely with mayors and economic development officers. Also, he connects entrepreneurs with business owners who wish to sell their company. The success of his companies’ programs has allowed him to create an amazing ecosystem of thousands of entrepreneurs in different sectors (cleantech, fintech, manufacturing, IT, agriculture, agribusiness, energy, infrastructure, housing…).
– IN AFRICA: He and his team bridge the gap between investors (including Private Equity) and high impact projects (PPP and Private Projects).
His background in accounting and taxation (including SR&ED) has allowed him to have a complete view of helping businesses to be more profitable, successful and sustainable.
As a successful African-Canadian entrepreneur, how do you see your role in inspiring the next generation of Black business leaders during Black History Month and beyond?
Reflecting to Black History Month, it is a time to celebrate the resilience and achievements of Black entrepreneurs who have overcome barriers and created pathways for others. Their stories remind us that success is possible despite challenges, and that representation plays a crucial role in shaping opportunities for future generations.
As an African Canadian entrepreneur, I see it as my responsibility to inspire and uplift the next generation of Black business leaders because it’s important for young Black entrepreneurs to see successful leaders who share their background, especially in industries where they haven’t always been represented. By sharing my experiences such as the wins, the struggles, the lessons learned, etc., I hope to show that entrepreneurship isn’t just a possibility, but a powerful way to create change in our communities.
But my goal is not just to inspire but to provide real support that helps Black-owned businesses grow and make an impact for years to come. That is the reason why my business always places a high importance on strategic initiatives to support minority and, especially Black entrepreneurs, by helping them access funding, mentorship, and strategic guidance. Only when the systemic barriers are broken down and fair opportunities are available, we can think about big visions and long-term success. More than anything, I want to encourage young Black leaders to dream big, trust their unique perspectives, and recognize the value they bring. By fostering diversity and inclusion, we can create a future where Black entrepreneurs aren’t just participants in the business world but leaders who shape its direction.
Can you share some of the unique challenges Black entrepreneurs face in Canada, and how does your organization, A.S Business Center, address these issues?
Black entrepreneurs in Canada face a unique set of challenges that are a common theme amongst the minority population. Many Black-owned businesses struggle to secure loans or investment capital due to limited access to financial networks or resources or even a lack of generational wealth, which can hinder their ability to scale and compete in the market. On the other hand, there are not many Black leaders out there who share their background, making it more challenging to find relatable role models or mentors who understand their lived experiences. I also observed that many have a mindset of setting up the business keeping the same steady pace forever, without a further bigger picture like scaling, expansion or adapting to trend, industry shifts. Once you set a limit, you cannot reach far and the sky is the limit even though it’s not and you could totally go beyond that. This is also why Black incubators often overlook high-growth industries like fintech and cleantech, where opportunities for innovation and success are enormous. Expanding their vision and targeting in-demand sectors can unlock greater impact and long-term sustainability.
By addressing these challenges head-on, A.S Business Center is dedicated to creating a more equitable and inclusive business environment. Our goal is to empower Black entrepreneurs not just to survive but to thrive, making a lasting impact in their communities and beyond. Our organization takes a multi-faceted approach:
- Facilitating Access to Funding and Financial Solutions: We work closely with entrepreneurs to identify funding opportunities, secure loans, grants and attract investors. By demystifying the funding process and advocating for our clients, we help break down financial barriers that often hinder Black-owned businesses. We also provide personalized consulting services to ensure businesses are well-prepared to meet lender or investor requirements.
- Providing Mentorship and Strategic Guidance: We recognize the importance of mentorship in helping entrepreneurs navigate challenges and seize opportunities. Through one-on-one coaching and tailored business strategies, we empower entrepreneurs to build confidence, refine their business models, and unlock their full potential. By acting as both advisors and allies, we ensure our clients feel supported every step of the way.
- Creating a Platform for Representation and Visibility: A.S Business Center serves as a platform to elevate entrepreneurs by showcasing their businesses, connecting them with influential networks, and fostering collaborations. We believe in building strong ecosystems that amplify their voices and celebrate their contributions to Canada’s economy.
- Breaking Down Systemic Barriers: Beyond individual support, we advocate for systemic change by working with partners to address inequities in the business landscape. This includes promoting diversity and inclusion within industries and ensuring that minority entrepreneurs have equal access to the tools they need to succeed.
How has your African heritage influenced your approach to business and your mission to bridge opportunities between Canada and Africa?
Growing up immersed in African culture, I witnessed firsthand the incredible potential, innovation, and resilience of the people in the region. At the same time, I became deeply aware of the challenges, such as limited access to resources, infrastructure gaps, and systemic inequities that often hinder economic growth. These experiences instilled in me a deep sense of responsibility and a desire to create opportunities where they are most needed. It is the reason why Canada, despite its own challenges, was seen as such a great land of opportunities for me to make it and prove myself. However, my African heritage remains at the core of who I am and has significantly shaped my approach to business and my vision for A.S Business Center.
This heritage has profoundly influenced my belief in collaboration and community-driven solutions. In African cultures, there’s such a strong emphasis on collective progress and community. This mindset has been embedded as a guiding principle of my company’s philosophy, we work in collaboration and good harmony, and we always think about bringing synergies between regions and foster partnerships that benefit both Canada and Africa. By enabling businesses to collaborate across borders, we can unlock economic opportunities, share knowledge, and drive sustainable development.
My African roots have also infused me with a sense of adaptability and resilience. In many African markets, entrepreneurs must navigate complex and unpredictable environments, often relying on creative solutions to succeed. This adaptability has helped me embrace innovation and approach challenges with a problem-solving mindset, which I believe is essential for achieving great success in business.
It only took a long time settling in Canada to realize that my connection to Africa fuels my mission to change perceptions about the continent and highlight its potential as a global economic powerhouse. Africa is brimming with entrepreneurial talent, natural resources, and untapped markets, yet it is often overlooked or misunderstood. That’s one of my pivotal moments to scale the business to connect businesses between Canada and Africa. By fostering trade, investment, and collaboration between 2 countries, I hope to challenge these misconceptions and showcase Africa as a hub of opportunity.
Ultimately, my African heritage is not just a source of pride. It’s a motivation to build a legacy that bridges cultures, empowers entrepreneurs, and creates a better future for both regions. At A.S Business Center, we are committed to turning this vision into reality by facilitating meaningful connections and driving economic progress on a global scale.
In light of Black History Month, could you highlight a success story of a Black-owned business you’ve mentored that exemplifies the potential of African-Canadian entrepreneurship?
One success story I’m very proud to share is Old Nassau Toronto, a Black-owned restaurant that has become a cultural and culinary landmark in the city. Founded by an entrepreneur with Bahamian roots, Old Nassau was built with a mission to celebrate Caribbean culture through food, community, and hospitality.
When the founder first approached A.S Business Center, they had a strong vision but faced challenges in turning that vision into a fully operational business. From navigating permits and financial planning to developing a solid launch strategy and executing their concept effectively, getting started was a daunting process. Toronto’s competitive restaurant scene added another layer of difficulty, not even to mention such a niche market they have, making it crucial to have a clear brand identity and a plan for attracting customers. We worked together to refine their business strategy, connecting them to grants and funding while also focusing on execution and building a strong foundation for long-term success. Old Nassau gained widespread recognition led to a massive surge in customers and established the restaurant as a must-visit destination in Toronto.
The increased visibility not only strengthened the brand but also gave the owner, Kay, the momentum to scale the business. Now, with the growing demand, Old Nassau is preparing to expand with potential new locations to reach a broader audience and establish itself as a key player in Toronto’s diverse culinary scene. They are also working on establishing a ready-made meal manufacturing facility equipped with best-in-class technology to scale the business to new heights. This is an excellent example of how you got a big vision for your business and brought it to a new horizon as you go along with its growth and development.
What initiatives or programs have you implemented specifically to support Black entrepreneurs in accessing capital and resources, and how have these efforts made a difference?
Our Black Entrepreneurs program is dedicated to empowering Black entrepreneurs by providing crucial access to capital, resources, and mentorship. This initiative encompasses several key components that have made a significant difference in the success of Black-owned businesses.
One of the primary focuses of the program is access to capital. We connect Black entrepreneurs with various funding opportunities, including grants, loans, and access to venture capital networks. By prioritizing financial support specifically for Black-owned businesses, we help eliminate systemic barriers to funding. Over the years, many businesses have successfully launched and expanded, leading to job creation and economic growth. Entrepreneurs have utilized this capital to secure location, purchase equipment, and invest in their teams to launch and expand their businesses.
Mentorship and business development are a fundamental part of the program where entrepreneurs receive guidance from financial planning, marketing strategies, and operations, etc. Participants gain valuable insights and actionable strategies that enhance their business and industry knowledge. This couples up with networking and connecting with potential investors, partnerships, and customers within our ecosystems to elevate business opportunities.
As we celebrate Black excellence during Black History Month, what advice would you give to young Black Canadians who aspire to become entrepreneurs or business leaders?
I would encourage young Black Canadians to think big and dream boldly. Don’t limit yourself based on what you’ve seen others do or what society says is possible for you. Aim to create something impactful, whether it’s a business that addresses a pressing need, a product that innovates, or a leadership role that allows you to inspire others. Your potential is limitless, and your aspirations can have a ripple effect that extends far beyond your immediate community.
As Black entrepreneurs, we often face systemic barriers and challenges that can make success feel out of reach. However, it’s important to recognize the strength, resilience, and creativity that exists within you. Your unique perspective and experiences are not weaknesses but your greatest strengths. The entrepreneurial journey is full of highs and lows, and there will be moments of doubt or failure. Rather than letting those moments define you, use them as opportunities to learn and grow. Seek mentors who have walked the entrepreneurial path and can offer valuable insights, while building a strong support system of people who believe in you and your goals.
Black History Month is a celebration of the trailblazers who overcame immense barriers to create opportunities for all of us. My hope is that young Black Canadians continue to build on this legacy, breaking barriers and redefining what’s possible in business and beyond.
