Canada to invest $25 million in LGBTQ+ entrepreneurship program

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Canada to invest $25 million in LGBTQ+ entrepreneurship program

The federal government is investing 25-million to create a LGBTQ+ entrepreneurship program that aims to expand the buying, funding and mentorship opportunities available to businesses with owners who have diverse sexualities and gender identity. The CGLCC, a non-profit that was established in 2003 as the Canadian Gay and Lesbian Chamber of Commerce, will run the program. It was announced by Small Business Minister Mary Ng, who said it was the world's first program of its kind. It is followed by similar initiatives, such as the Black Entrepreneurship Program and the Women Entrepreneurship Strategy. The new program will encompass three streams: one to create a knowledge hub to examine the experiences of LGBTQ+ entrepreneurs and identify barriers to their success, one to support organizations that provide services to LGBTQ+ businesses, and a third to build capacity at CGLCC. The CGLCC's chief executive, Darrell Schuurman, said one of his objectives is to increase the amount of corporate and government procurement opportunities offered to LGBTQ+ businesses, as they are underrepresented in many supply chains. By helping marginalized community groups access procurement opportunities, the state could really help them economically empower themselves, he said. The organization will also develop a loan program and work to increase export opportunities for LGBTQ+ businesses, for example by leading trade missions. CGLCC certifications businesses as majority-owned and operated by LGBTQ+ entrepreneurs and helps them connect with corporations and government bodies looking to increase the diversity of their suppliers. One of the challenges with certification is that many businesses are reluctant to self-identify because of discrimination, Mr. Schuurman said. The fear of LGBTQ+ rights has grown worse as a surge in attacks against gays and lesbians. If they're not comfortable in being who they are, if they're focused and putting energy to hide parts of their identity, it means they're not being able to contribute and put as much energy as they can into growing their own business, he said. More than 100,000 businesses in the country are owned and operated by LGBTQ+ entrepreneurs and their workforce employs more than 435,000 Canadians, said Canada's Innovation, Science and Economic Development Canada.