‘A lot of catching up to do.’ Black entrepreneurs embrace financial literacy in bid to create generational wealth

The initiative has drawn dozens of youth entrepreneurs from various locations in the GTA, and this summer YBB will host its third event that will include classes on financial literacy, a fashion event and a pitch contest. According to a report from Statistics Canada, Black businesses led by men doubled from 1.8 per cent in 2005 to 3.5 per cent in 2018. And financial institutions are stepping in, working with organizations like The Black Opportunity Fund to boost Black entrepreneurship to create access to capital and financial education. We have some great, high-profile Black businesses in our community, but we need more,” Biyapo said. “We must continue to do this type of work, to educate the community, inspire them, and make them see the importance of financial literacy,” Biyapo said.