Last year, in this same column, my message to Black entrepreneurs was to DARE:
- DARE to ask questions and ask for help;
- DARE to apply for loans, grants and to dive into your numbers to come up with a clear coherent ask;
- DARE to dream about “impossible” goals for your business.
This year, I want us to keep that same daring energy going, with a focus on that last point; dreaming about “impossible” goals for your business and aiming for growth!
Black businesses currently make up about 2.1% of Canadian businesses and even if I trust that that percentage will steadily increase in the coming years, I am afraid micro-entrepreneurship will continue to be prevalent. There’s nothing wrong with owning and operating a small business, don’t get me wrong, but there needs to be a certain level of scalability.
Is your great idea still answering the need you initially identified? How can you get to that next level? In what horizon of time do you see yourself being able to generate enough to pay yourself properly and eventually hire? It might not be sustainable to operate solo in the long term! You have to be willing to face the facts, make the proper adjustments and keep going! That is how you achieve continued success.
Three years ago, clear data was compiled highlighting the barriers faced by Black entrepreneurs in Canada. In response to that, many organizations made it their mission to tackle these issues and change the Canadian entrepreneurial landscape. While nothing is perfect, we are in a much better place today, with different sources of financing targeted specifically to Black entrepreneurs, mentorship programs, networking events etc. It’s time for us to build strong businesses that will last!
Dream big, take the proper steps, use the resources and make it happen!!
We’ve come a long way already. Let’s continue to change the narrative around entrepreneurship in our communities so that future generations can thrive!
Mona-Lisa Prosper
Director, Black Entrepreneurs, Futurpreneur
Mona-Lisa is the Director of Futurpreneur’s Black Entrepreneur Startup Program. A lawyer by trade, she also holds an MBA degree and has gained experience in entrepreneurship, human resources as well as economic development. Very involved in her community, she sits on the investment committee of Boann Social Impact, was the president of the Jeune Chambre de Commerce des Femmes du Québec from 2020 to 2022 and continues to sit on multiple other boards. A proud ambassador of the importance of inclusive governance, she is also involved with different organizations promoting DE&I. With a strong penchant for media and communications, she is a collaborator on the show “Zone Économie” on RDI, hosted Futurpreneur’s very first podcast, Startup + Prosper, and was a guest blogger for the Journal Les Affaires where she highlighted BIPOC entrepreneurs in her French blog called “Diversité Prospère”.
