NDP commits to recovery that empowers Black-owned small businesses and local economies

TORONTO – The NDP will launch a $20 million Black Business Recovery Fund and other supports for Black entrepreneurs if elected, said NDP Leader Andrea Horwath.

Horwath released details of the plan in advance of the Operation Black Vote debate, where some of the discussion will focus on prosperity for Black Ontarians. Horwath noted that Black-owned businesses were already facing systemic barriers to capital when they were hit especially hard by the pandemic, and a disastrous lack of support from the Doug Ford government.

“Small businesses are the backbone of Black communities across Ontario and are critical to the economic and cultural health of our province,” said Horwath. “But Black-owned businesses that were already struggling to access capital were hit even harder by the pandemic. Instead of helping, Doug Ford let his buddies at the big box stores stay open and rake in record profits.”

Dr. Jill Andrew, NDP MPP for Toronto-St. Paul’s said that Toronto’s Little Jamaica needs support now.

“The business community in Midtown and Little Jamaica has been hit doubly hard by construction delays from the Eglinton Crosstown LRT and COVID," said Andrew. "Lack of affordable housing has also worked to push individuals and families out of our neighbourhoods. Communities need concrete, direct support that small businesses, workers, and families can depend on to keep this vital piece of Toronto’s culture, heritage and economy alive.”

Horwath said an Ontario NDP government will help Black small businesses get back on solid ground, grow and thrive, and create more good jobs with the following commitments:

• Launch a Business Recovery Fund for Black-owned small businesses and entrepreneurs, along with others who have faced systemic barriers to accessing capital. The NDP will simplify access to support programs, providing reliable help so all entrepreneurs and businesses can access the resources they need to succeed.
• Launch a Buy Ontario government procurement plan to engage in strategic government procurement from small and medium-sized businesses and non-profits. The NDP will ensure that small businesses can compete with big industry and use public funds to invest in good jobs right here in Ontario. The NDP’s Buy Ontario program will include a social procurement policy to support vendors who haven't always had a seat at the table, including Black, racialized, new immigrant, and other business owners.
• Implement a Community Benefits plan to ensure local communities benefit from infrastructure projects. The NDP will require future contracts for major infrastructure projects to contain provisions that mitigate the impact of construction on small businesses, and also create good-paying local jobs and apprenticeship opportunities.

“An NDP government can create an equitable playing field and support Black entrepreneurship by hiring and buying local,” said Horwath. “Our Buy Ontario and community benefits plans will ensure the Ontario government buys locally made products from local businesses and hires locally for any provincially funded infrastructure projects through the community,” said Horwath.

“If we’re serious about supporting Black communities, businesses, and families, we cannot afford four more years of Doug Ford making it harder to succeed. Ford even scrapped diversity hiring targets for provincial transit projects like the Eglinton Crosstown LRT,” said Horwath. “And Steven Del Duca’s Liberals aren’t the answer. They had 15 years, and they didn’t take concrete action to help Black entrepreneurs access capital or grow their companies. They didn’t even compensate the Little Jamaica businesses devastated by LRT construction. But we can start to fix the damage. We’re committed to investing in Black-owned businesses, entrepreneurs and working folks.”

Quotes:

Andria Barrett (NDP candidate for Brampton South)
“I know firsthand the struggles and systemic barriers Black small businesses faced before the pandemic and continue to face. We can help people over the biggest hurdle by opening up access to capital for entrepreneurs who’ve been left behind.”

Faisal Hassan (NDP MPP for York South—Weston)
“Small businesses are the backbone of communities like York South-Weston. Far too many doors have had to close permanently. We need real investment to help entrepreneurs in our community, who are struggling to recover and rebuild.”

Felicia Samuel (NDP candidate for Scarborough—Rouge Park)
“Doug Ford’s decision to remove equity hiring targets stripped away the hard-fought progress made to help our communities navigate the disruption of transit construction, and stole job and business opportunities from folks in Black communities. An Ontario NDP government will ensure every community sees real, tangible benefits from infrastructure projects in their neighbourhood.”