Province Renews Partnership with Black Business Initiative

ECONOMIC DEVELOPMENT--Province Renews Partnership with Black Business Initiative

The provincial government is investing half-a-million dollars in the African-Nova Scotian community.

Economic Development Minister Ernest Fage announced the ongoing operational support for the Black Business Initiative (BBI) today, June 23, as the fourth annual Black Business Summit gets underway in Halifax.

"Business is growing in the African-Nova Scotian community, adding to the rising number of businesses and jobs in every part of the province," said Mr. Fage. "As part of our economic growth strategy, the province will continue to help the BBI achieve its goal of building a dynamic presence within the Nova Scotia business community."

"Our priority for the coming year and beyond will be business retention and growth through partnerships, because they are the key to sustainable economic development," said Rustum Southwell, executive director of the BBI. "The agreements we've signed with other business organizations and the work we've done with the province to create new pools of capital for black-owned businesses are excellent examples of how partnerships will ensure our success."

In addition to forming partnerships, the BBI's staff of 10 develops initiatives and supports clients through a variety of direct services. These include training, community-development projects, and events and publications promoting awareness of African-Nova Scotian entrepreneurial activity and success. Loan funds are also offered, including the BBI's overwhelmingly successful Community Economic Development Investment Fund, which recently raised $130 thousand for investment in black-owned businesses throughout the province.