How Cobalt’s Historic Train Station is Transforming Local Events & Economy

Ontario's RAISE Program: Boosting Training for Racialized and Indigenous Entrepreneurs

Update New Opportunities for Racialized and Indigenous Entrepreneurs in Ontario The Ontario government is making a significant move to stimulate local economies by investing $5 million in free business development training, coaching, and support for racialized and Indigenous entrepreneurs through the RAISE (Racialized and Indigenous Supports for Entrepreneurs) program. This initiative aims to empower over 400 individuals, providing them with essential resources to turn innovative ideas into successful ventures, thus helping to create jobs and foster economic growth within their communities. The Essence of the RAISE Program Launched in 2022, the RAISE program features a comprehensive business development curriculum provided by the DMZ at Toronto Metropolitan University—one of Canada’s most reputable business incubators. The program not only offers training but also provides a grant of $10,000 upon the successful completion of the course, an attractive incentive for aspiring entrepreneurs who face unique challenges accessing traditional business resources. According to Graham McGregor, Minister of Citizenship and Multiculturalism, "At a time of economic uncertainty, our government is protecting the next generation of entrepreneurs," emphasizing the importance of supporting underrepresented groups in a competitive marketplace. This initiative reflects a broader commitment by Ontario to foster an inclusive environment that nurtures diverse business leadership. Supporting Local Economies The economic impact of such initiatives extends far beyond individual success stories. By empowering local entrepreneurs, the province can stimulate job creation and economic diversity. Entrepreneurs bring innovation, which can lead to the development of unique products and services that cater to both local and broader markets. This, in turn, enhances community resilience and economic stability. The RAISE program also aligns with other provincial efforts aimed at economic empowerment, such as the Black Youth Action Plan. Through these initiatives, Ontario ensures that the creative potential of its diverse population is harnessed effectively. The underlying goal is not only to create startups but to foster a thriving business ecosystem that benefits everyone. How to Get Involved Applications for the RAISE program are currently open and will remain available until October 1, 2025. Interested entrepreneurs can learn about the application process and eligibility at Ontario.ca/RAISE. To take advantage of this opportunity, businesses must be registered in Ontario and majority-owned by Indigenous, Black, or other racialized individuals. Additionally, the Cornwall SDG Business Enterprise Centre is available to provide support in the application and business development processes. Located at 100 Water Street East, the centre is committed to fostering entrepreneurship in the Cornwall region and surrounding areas. Looking Ahead: What This Means for the Future The implementation of the RAISE program signifies a progressive step towards equality in business. By directly addressing the barriers faced by racialized and Indigenous entrepreneurs, Ontario is paving the way for a more inclusive economy that not only values diversity but actively supports it. As more entrepreneurs gain access to training and funding, we can expect to see an influx of innovative businesses that reflect the rich cultural mosaic of Ontario. This not only enhances the economic landscape but also enriches the community’s cultural fabric. The ongoing commitment shown by the government is essential to ensuring that these businesses not only survive but thrive in a competitive landscape.