Black Entrepreneurs Journal

being

Black

in business Value in

Workplace

Black

Investing

Inequity

Wall Street

pg 6

pg 10

pg 35

VOL.1 . 1

AFRICA CENTRE A strong, relevant and engaged African descent community in Alberta.

2 www.africacentre.ca . VOL.1

| 780.455.5423 | Suite 106, 6770-129 Avenue, Edmonton, AB T5C 1V7

Africa Centre

@africacentreyeg

@africacentreyeg

Contents Editor’s Welcome A word from our Editor as well as an account of the publishing team and contributor’s

Value in Investing The long-term benefits of investing, as told by the Calgary Chamber of Commerce.

Workplace Inequity Combating inequality at work as well as resources you can count on in times of need.

ECF: Community Building in Action Learn how the Edmonton Community Fund supports the charities and distributes grants and see if you qualify to receive these support systems.

Black-Owned Business Sharif Haji touches on the needs of Black Businesses and how the Africa Centre hopes to be of help.

Investing in Real Estate Top real estate agent Errol Scott answers questions on how to invest in real estate.

Being Black in Business Deanne Gage speaks to a number of Black business owners about their experiences; they offer advice for burgeoning entrepreneurs.

Financial Corner Allan McGregor Reid addresses common pitfalls of the young business owner and how avoid them.

Spotlight: Nilo & Morenike Two empowering women in business - learn about their passions and community impact.

Black Wall Street: Beyond the Fire What the events of the early 1900s teach us about creating an economic system for the Black Community.

Resource Guide A comprehensive list of organisations that contributed to this journal’s establishment.

VOL.1 . 3

PRESENTED BY

AFRICA CENTRE

BOM YEG OUTDOOR MARKET SAT. JULY 24TH 10210 108 AVE NW | 11AM - 5PM

4 . VOL.1

RSVP AT SWIY.IO/BOMAT1

publishing team Greg Davis Publisher

Taneya Rogers Editor

Joanne Pierce

Sharif Haji

Artistic Director

Director, Africa Centre

Tinuoluwa Olabimtan Designer

Editor’s Welcome

Cover photo by

Thandiwe Konguavi

by Taneya Rogers

The ability to build enterprise within systems that have historically denied access and ownership is a testament to the innovation, ingenuity, and tenacity of Black entrepreneurs. This journal creates a platform to amplify the contributions of Black businesses in this province, invigorates a sense of pride within the Black community, and establishes a common ground for networking.

The Council for Advancement of the African Canadians in Alberta, known as “Africa Centre”, is the backbone of this initiative. Sarif Haji, director of Africa Center notes ,“Black communities are a key part of Alberta’s financial future however this economy is not sufficiently researched, and the significance of our contributions to the province are not duly recognized.”

Join us as we explore investing, the experiences of Black entrepreneurs, and the world of real estate.

Meet some of the local Black talent contributing to the development of Alberta’s Black enterprise.

Taneya Rogers

contributors Alan Reid Deanne Gage Calgary Chamber of Commerce Margaret Adekunle Outsiders Edge Media P.O Box 542 Stn Main Edmonton T5J 2K8 info@outsidersedge.ca

This issue was made with the support of

The Black Entrepreneur’s Journal is an Africa Centre publication under the Black Canadian Business Empowerment Program.

VOL.1 . 5

Value In Investing Submitted by Calgary Chamber of Commerce

the stock market provides you the opportunity to put your capital to use by generating a passive return. You don’t need to market, sell or help (i.e. work for) the companies you own shares of. While many entrepreneurs might believe they can deploy their capital better than others, diversified income streams now and in retirement play a large role in one’s overall financial success. Let’s discuss why saving and investing your capital helps you realize actual wealth.

investing in

Human Capital As an entrepreneur, you are constantly working overtime, building your business. You might be reinvesting your earnings into the business to help it grow. These activities turn your Human Capital, which is your education, your experience, and your drive, into financial capital. Human Capital, unfortunately, is not an infinitely renewable resource. Eventually, you tire of turning profits from human capital and want to realize the value of your work. All the cash you saved however cannot cover your 6 . VOL.1

financial needs in retirement if you maintained the same lifestyle; you’d be eroding your savings no matter how successful you were. This is where stock and debt ownership come in.

Long term returns Some people save their financial capital in GICs, Guaranteed Investment Certificates. GICs are a safe way to save money with guaranteed returns.

Decades earlier GICs saw returns of 4% whereas now, returns are merely 1-2%. Is that prudent when inflation is higher than 2%? If you have any intention of keeping your money working after you earn it, you need to invest in the market. Stocks1 and Bonds2 are saving strategies to stay ahead of inflation. There are also other more speculative investment vehicles including Hedge Funds, Digital Currencies, Real Estate and Private Equity. Either way, investing is necessary to retain the value of your hard-earned financial capital over time.

VOL.1 . 7

“All the cash you saved however cannot cover your financial needs in retirement if you maintained the same lifestyle...”

Retirement Retirement is generally the reason why people invest. A 5% return on $10,000 saved annually over 20 years, would generate over $330,000 at retirement. This is the power of compound interest combined with savings. Still, people find a variety of excuses not to invest, robbing themselves of opportunities. Many larger companies are professionally managed and succeed in producing profits, returned to share owners as dividends. Selling when stock prices go up generates capital gain. Bonds/Debt also known as Fixed Income, can see their prices vary as well as pay interest.The combined capital gains, dividends, and interest gives you the return from investing, paving the path to your retirement.

Please feel free to reach out with any questions and more information at calgarychamber.com

8 . VOL.1

AFRICA CENTRE

BECOME A MENTOR WITH AFRICA CENTRE! Make an impact in the lives of African-descent youth in our community.

Find out more at: www.africacentre.ca VOL.1 . 9

Workplace Inequity Margaret Adekunle the workplace continues to be a concern even though the “Human Right Act” exists to protect under-represented groups. Discrimination is a traumatizing experience for many minority peoples, especially Black Canadians. I get regular calls from minorities facing discrimination at work and the question is the same,“What can I do when faced with inequality or discrimination at work?”

Here are some strategic steps: • Make sure that you document all your conversations with your leader(s). inequality in

10 . VOL.1

• Send an email recap of all meetings to ensure clarity and understanding. Forward a copy of each email to your personal email if possible. If forwarding to your personal email is against your organization’s code of conduct, consider printing emails or documents that show proof of inequality. These might come in handy if you’re terminated without cause.

• Ensure you read your organization’s code of conduct and polices on Workplace Harassment,

Corporate Canada is a tough place for a woman, much less a Black woman...

Bullying and Discrimination. This will help you understand your organization’s stance.

• Speak to legal counsel to understand your options. There are lots of lawyers who are willing to make payments arrangements for consultations and may consider pro bono cases.

• Be cautious about the leaders that you trust within your organization when it comes to conversations about inequality. There are leaders who will protect the organization first, regardless of your situation.

• Connect with your Human Resources department if you feel comfortable. Unfortunately, I have spoken to a lot VOL.1 . 11

Employee resource groups creates a safe environment to share...experiences...

of minorities who feels that HR makes them a target by telling their leaders what was discussed. The reality is that HR’s first commitment is to protect the organization.

• Join an employee resource group. Either a race-based group or a group whose members share your values.

Employee resource groups creates a safe environment to share lived or common experiences within the workplace.

I have felt the ugly hands of workplace inequality and what it can do to one’s mental health. I strongly encourage that you pair these strategies with some mental health supports. It may even be necessary to take time off work to re-evaluate the situation, process, and decide if your values align with that of the organization.

12 . VOL.1

Community Building in Action

W

ith an increase in grassroot

Edmontonians. Through the skillful

social justice movements,

management of endowment funds,

many business owners are aligning

ECF provides sustainable support to

their businesses with causes or

the city’s charitable sector.

initiatives that fit their values, and

Businesses (large and small),

create positive social change. Philan-

families, groups of friends, and

thropic endeavors are not restricted

others who are simply invested in

to large corporations. With the right

making Edmonton a better place,

tools, charitable giving can be struc-

are the backbone of ECF. ECF con-

tured in a sustainable manner for a

nects donors to charities and causes

lasting impact.

that are important to them. Gifts

Edmonton Community Foun-

are invested to create endowment

dation (ECF) is committed to the

funds. With a permanent endow-

wholistic enhancement of the qual-

ment fund, donors build a lasting

ity of life in Edmonton. ECF keeps

legacy of support for organizations.

a thumb on the pulse of our city,

Around 4% of the funds are granted

monitoring its needs and building

to charities annually. This means the

relationships with charities and

funds continue to grow, and char-

community leaders who are work-

ities continue to benefit now and

ing to improve the experience of all

forever.

VOL.1 . 13

Here’s What You Need to Know...

Do I need a lot of money to start

Who decides which charity or

an endowment fund?

cause receives a grant?

No. An endowment fund can begin

You will define the intention of your

granting once it reaches $10,000

fund in a written agreement. ECF’s

and donors can take up to 10 years

team will review applications from

reach that threshold.

various charities and community

Are there specific rules around fundraising?

Outside of making donations from business earnings, companies can

leaders and match your funding with the charity or cause that most closely aligns with your goal.

Will managing the fund take a lot of my time?

be creative with fundraising. Consider team building exercises that

ECF is equipped to fully manage

include fundraising, working togeth-

all aspects of this process from

er with other groups or businesses,

investing your donation, to vetting

or even fun sporting events with a

potential recipients, to granting to

team buy-in. There are no limits on

the selected charity. In your written

fundraising strategies.

agreement, you can decide how involved you would like to be in the process.

“The support from ECF, ...keeps me focused on growth and sustainability” Darren Jordan, 5A1L Founder

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Darren Jordan With a uniquely Edmontionan history that spans 15 years, 5 Artists, 1Love (5A1L) has built its brand around showcasing the creativity of the local Black community. A legacy such as this isn’t established without both community and financial support. “The support from ECF is different”, shares 5A1L founder, Darren Jordan, “Their stipulation is one that keeps me focused on growth and sustainability”.

For the year ended December 31, 2020:

Total Value of Funds

$640 million Received in Contributions

$30.6 million New Funds Created in 2020

129 Total Number of Funds

1,356 Total Distributions to Charitable Causes

$35.7 million VOL.1 . 15

Black-Owned Business

with Sharif Haji

by Taneya Rogers

black- owned businesses

make significant, underreported contributions to the economy in the Prairies, specifically, Alberta. Conversations around keeping dollars cycled within the Black community have identified the need to build a more robust Black business ecosystem. Sharif Haji , the Executive Director at The Council for Advancement of the African Canadians in Alberta, known as “Africa Centre”, stands on the frontlines of several initiatives that advance inclusivity in the arena of social, economic and civic participation among Black communities in Alberta.

Mr. Haji shares, “When we speak of the Black business landscape, we need to consider the unique challenges that Black entrepreneurs navigate; from business inception to expansion, and consider how race may impact these businesses at each stage of development.”

Canada has shied away from collecting race-based data to accurately measure how stifling systems impact the growth of Black enterprise. It is undeniable that Black businesses and Alberta’s growing Black communities are critical to the

16 . VOL.1

business landscape, we need to consider the unique challenges that Black entrepreneurs navigate...

continued development and diversification of Alberta’s economy. Captured in the 3-Cs, Mr. Haji addresses some of the needs of the Black business community: • Capacity support – mechanisms, tools, and policies to support growth • Capital – access to funding without the fear of facing discriminatory financial institutions.

• Coaching – the transferring of information, particularly for Black immigrant entrepreneurs who must navigate new cultural norms.

To address these challenges, in September 2020, Prime Minister Trudeau announced the creation of the Black Entrepreneurship Program (BEP), an investment of nearly $221 million, to support Black businesses throughout

“

“

When we speak of the Black

Canada. Learn more about the threetiered program at: www.ic.gc.ca/eic/ site//150.nsf/eng/home.

“The Africa Centre is one of the co-founders of the Federation of the African Canadian Economics (FACE), the national entity to administer the Black Entrepreneurship Loan Fund and is also building capacity support within the Black business ecosystem” said Mr. Haji.

The Africa Centre is playing its part by enhancing the economic diversification and economic inclusivity for Western Canada; we are each encouraged to find avenues to do the same.

VOL.1 . 17

with Errol Scott

by Greg Davis

Errol Scott’s dedication to his clients, work ethic and passion for real estate has earned him a position in the Remax Platinum Club for four consecutive years. Errol also claims a spot amongst the elite top 5% of all sales in Edmonton and Surrounding Areas with his agency.

Why should real estate be a part of an investment strategy?

properties, fix and flip projects which generate capital or the BRRR method of Buy, Rehabilitate, Rent, Refinance, Repeat are a few strategies, each presenting unique benefits.

Is it better to invest in commercial properties or residential properties?

Investing in real estate provides multiple I wouldn’t say that one is better than paths to creating income streams and if managed well, can produce great returns the other, it’s a question of what your on investment. Cashflow through rental investing plan is and what you hope to achieve. Commercial investment can

18 . VOL.1

include multi-family units, commercial retail space or even mixed-use properties. The entry cost is the most significant difference between the two with commercial typically being higher.

What are some factors that are having a profound impact on the current real estate investment market?

Covid has created uncertainty for many but has also created opportunities for those who have planned and are prepared to make a move.

The economic outlook and job market are measures that an investor should also pay close attention to.

What are some precautions or guidelines an investor can implement to protect themselves?

Always start with a plan. It is crucial that you track your numbers – every receipt and expenditure. Ensure that you have an exit strategy: do you have a target return on investment before exiting? Are you holding for a set number of years? Finally, carefully vet any investment partners.

Nothing is guaranteed in the world of real estate investments, but you can set your cards so that the odds are in your favor.

VOL.1 . 19

Being Black in Business

By Deanne Gage

Black-owned businesses in Canada is unknown, but according to a recent study by Abacus Data, 76% of Black Canadian entrepreneurs surveyed believe their race makes it harder to succeed. Black Business Journal asked three Black entrepreneurs what helped them overcome barriers and be successful in business. the number of

Have a simple idea.

“All great businesses start with a small idea that fits a need”, says Nevell Provo, 20 . VOL.1

founder and CEO of Smooth Meal Prep in Halifax. Provo’s brainchild began when he was a national-level university athlete. Pressed for time, he needed convenient healthy foods to eat on the go. Turns out, many other people have a similar need or abhor cooking themselves.

For nearly two decades, Calgary entrepreneur Brian Lanier worked in executive positions for several major corporations. Faced with corporate drudgery and subtle microaggressions in

...As Lanier put it, “money talks.”

the workplace, Lanier chose to venture out on his own. Lanier built his consulting firm, The Leaders Circle, on what he already knew — leadership development training for executives.

Seeing the footage of the killing of George Floyd in May 2020 however, deeply affected Lanier. “I realized I had the capacity to make a difference in how businesses operate going forward,” he said. Within a week, he pivoted his firm to focus on diversity, equity, and inclusion. “It’s about helping to create

business cultures where everyone has the experience of feeling like they belong”.

After years of working as a stylist in Toronto, Chantal Carter noticed melanin models rarely owned undergarments that matched their skin tone – a requirement in the fashion industry.

She believed she could fill that void by designing her own undergarments thus setting the foundation for Love and Nudes, a line of intimate clothing for women of colour.

VOL.1 . 21

Don’t give up. Keep going.

Carter first pitched her idea to a white investor, but he rejected it, asserting that four different skin tones was too many for a product line. “Never mind that bra stores offer every colour including red and purple,” she noted. “Why can’t there be a range of brown bras?” The investor’s feedback didn’t deter Carter; she explored other funding opportunities. Some loans required immediate repayments — not appealing to a burgeoning business. She was eventually approved for a line of credit big enough to grow Love & Nudes. She’s still seeking additional financing options for future business expansion.

Lanier applied for an increase to his line of credit, but his bank informed him that he “didn’t have a track record.” But when significant revenue from a top client started flowing through his account with each passing year, the bank finally 22 . VOL.1

extended his line of credit. As Lanier put it, “money talks.”

Join networking groups.

Lanier is the vice-chair of advocacy for the newly founded Calgary Black Chambers, a non-profit group of local Black professionals and entrepreneurs committed to ending systemic racism.

He also recommends networking on LinkedIn, reading posts and articles that resonate with you, or joining like-minded Facebook groups.

“People naturally want to help people,” he says. “Start by reaching out to people who look like you. If you happen to encounter somebody who isn’t helpful, it doesn’t mean there aren’t others who will help. As a testament to our ancestors, we must resist the temptation to go it alone and we must persevere in transforming the system.”

...If you happen to encounter somebody who isn’t helpful, it doesn’t mean there aren’t others who will help...

VOL.1 . 23

...He’s not black but he’s someone who definitely supported and mentored me through the growth of my business...

24 . VOL.1

Find a mentor.

Provo spent considerable time at Halifax’s Saint Mary’s University Entrepreneurship Centre and met a veteran CEO of a food company. “He’s not Black but he’s someone who definitely supported and mentored me through the growth of my business,” he says.

Carter suggests that your mentor be someone who you admire and who understands business — not your friend or

Photos Previous page, right: Brian Lanier Left: Chantal Carter

family member who has no experience in your industry, and not someone who doesn’t understand the intricacies of an entrepreneurial lifestyle. Carter’s mentor isn’t actually one person but an entire advisory board. She meets monthly with several businesswomen from varying backgrounds for advice. Carter shares, “A lot of business owners like to work on their own but sometimes, you really have to get out of your own head and bounce ideas off someone else”.

Resources for Black Entrepreneurs • Black Chamber of Commerce www.blackchamber.ca • Black Entrepreneurship Program https://www.ic.gc.ca/eic/site/150.nsf/eng/home • Black Business and Professional Association https://bbpa.org/ VOL.1 . 25

SCFA Community Blood Donation Challenges • • • • •

You jump to a challenge You are 17 – 35 years old You say “Black Lives Matter” You are an influencer You know Sickle Cell Anemia patients need blood

• We have a challenge for you!

• Get your friends together, name your team then visit our site where you will be learn more about blood donation and what you need do. You can now challenge other groups to step up to help save lives.

• The monthly challenge winner will be listed on our site, will earn bragging rights and be eligible for prizes for your team.

Schedule June/ 2021 9ers Blood Donors Challenge July/2021 Sickle Cell Warrior family & Friends Challenge Aug. /2021 Community Cultural Groups Challenge Sept. /2021 Post Secondary Challenge Oct. /2021 Sport Teams Challenge Nov. /2021 Corporate Business Challenge

Hey, I learnt today that Charles Drew improved blood transfusion medicine and this technology saved many lives during WWII. He studied at McGill University and he is Black.

Oh really, I did not know that. My brother is ill and he needs to get blood every 4 weeks.

That really helps him not get sick.

I also learnt that because he was Black, he could not even donate blood in those days.

Funny because today we know that the closer one is genetically, the less reaction the recipient has.

I thought that was dealt with the four blood groups..

Yes, that is true, but when your DNA is a close match you get even less irritation. So we need every one’s blood!

Oh! Now that I know that; I should become a regular blood donor.

Yes, let’s sign up. That man, Charles Drew, will be proud of us, because we are now doing what he was not allowed to do.

Let’s see if we can get more friends to go with us.

Let’s do it.

Let’s donate our blood.

Corporate Sponsors

26 . VOL.1

Visit ourscfa.org for more info about how to donate.

Monthly seminars provide the who, where, why & when.

780-777-5626 ©2021 Sickle Cell Foundation of Alberta CR# 864039540 RR 0001

financial corner with Alan McGregor Reid Currently the Vice President of Sales CI Global Asset Management, Alan Reid has had a 14 year career in the finance industry with a focus on wealth management.

VOL.1 . 27

Common Pitfalls of the Young Business Owner with Alan McGregor Reid business owner, there is nothing quite as invigorating as applying strategy to your new idea and slowly converting what was previously a ‘thought’ into financial gain. There are, however, some common pitfalls that can quickly lead to ruin in this process.

A common misstep of inexperienced business owners is expanding or growing too fast. This depletes assets while simultaneously accumulating liabilities with little to no revenue to cover the growing debt. To prevent this pitfall, it is prudent that you define your growth objectives and develop a strategy and formulated business plan. Focusing on key objectives for the business allows for sustainable and healthy growth.

Business owners and entrepreneurs are a rare breed; strong-willed, driven, disciplined and ambitious. However, this mindset can equally lead to another pitfall: failing to find proper networks and appropriate resources as they attempt to do everything themselves.

It is imperative that new entrepreneurs and business owners understand their for the young

28 . VOL.1

strengths and weaknesses. Areas of lack can be delegated to a team of professionals and specialists. Networking is also instrumental to a successful business.

It presents an opportunity for the other professionals to hear your successes, evaluate and provide feedback; an exercise in gathering best practices while marketing yourself.

Finally, ‘keeping up with the Jones’ is a commonplace blunder of young entrepreneurs. Most have some form of social media and there is the temptation to create competition between these ‘images’ and one’s actual performance. This leads down the path of obtaining “wants” vs focusing on “needs” and into eventual financial hardship. To avoid this, be sure to set realistic and obtainable goals. These goals can be in the form of 1,3- and 5-year intervals and can be both personal and professional. This brings focus and discipline into your financial decisions and ensures your financial stability and sustainability.

ENTREPRENEURAL

SPOTLIGHT

By Taneya Rogers VOL.1 . 29

SPOTLIGHT ON

NILO–THAT GIRL YOU SHOULD KNOW Your Business and Community Development

Civil Rights Movement, though less spoken of, were small Black-owned businesses. Today, entrepreneurs like NiLo, are redefining business structures to empower their community to accelerate the work toward equity. She has dedicated the last eleven years of her life to community building with social accountability at the core of her business strategies. Acknowledging the complexity of her aspirations, she shares, “To be in business and to be anti-capitalist is almost like being white and being anti-racist – You literally have to be dismantling the structures every step of the way.” She actively works against the temptation to hoard assets, consistently seeking reinvestment avenues that foster enterprise within the Black community.

NiLo observed that more could be done to create a sense of community in Edmonton; spaces for Black people

critical to the

30 . VOL.1

to gather and openly discuss shared experiences in business, parenting and simply existing within white dominated structures.

With Afrodesiac Naturals as the foundation, her entrepreneurial tendrils have extended to projects like Melanistic Magazine, The Black Multiverse Podcast, BLISS Band, We Lit Book Fair and most recently Kiskadee Group.

Each venture has attracted and amplified the skills of a wide cross section of Black Albertans while responding to specific needs within the community.

For example, conversations around food insecurity coupled with a rise in grocery costs was the catalyst for the Kiskadee Community Garden. The garden is a place of fellowship, a place to heal epigenetic trauma and an opportunity to pass down the art of planting to another generation.

Asked to identify what she considers

Harriet’s Tremendous Hairday book is the second in NiLo’s Harriet series, which centres on a young girl going to school with a new hairstyle.

to be the top three needs of the Black community, NiLo notes: • Policy and accountability around anti-Blackness and racism.

• The freedom to fail – because entrepreneurs don’t fail; businesses fail. People of Color need the grace to extract lessons from a setback.

• Celebration- spaces free from white gaze to simply appreciate our progress outside of racial trauma.

Her business, projects and strategies are reflective of her tenacity and love for the Black community. “Start where you are, with what you have, and do what you can”, duals as NiLo’s personal motto and a word of encouragement to young Black entrepreneurs.

VOL.1 . 31

ENTRPRENEURAL

SPOTLIGHT 32 . VOL.1

By Taneya Rogers

SPOTLIGHT ON

MORÉNIKÉ OLÁÒSEBÌKAN – CHANGING THE FACE OF PHARMACEUTICAL MANUFACTURING A Merger of Business and Compassion in Ikeja, Lagos, Nigeria, where the divide between the poor and wealthy is obvious, Moréniké moved to study to become a Physician.

At 19, while being treated for tuberculosis at a facility that also treated people with HIV/tuberculosis co-infections, she witnessed the downstream effects of inequality and the unfair legacy of colonization first-hand. That experience coupled with stories of entire villages of parents being wiped out by HIV, and mothers passing the infection to their babies while consuming counterfeit drugs, intensified her awareness of discrimination and inequity, particularly in medicine.

born and raised

The need for access to safe and affordable medications was the impetus behind Kemet Advanced Manufacturing, which aims to solve these shortages using modular, prefabricated drug manufacturing facilities that can be easily transported to any part of the world.

Kemet’s drug manufacturing facilities will decrease reliance on global supply chains for raw ingredients by enabling pharmaceutical manufacturing to take place locally, in African contexts, thereby empowering local communities and supporting the development aspirations of African Nations.

“I have learned to apply curiosity.

That and maybe a little stoicism,” laughs VOL.1 . 33

Kemet aims to provide medicinal solutions for the world in a more accessible manner, as seen in their 6 key words listed above, on their website.

Moréniké. “It is amazing how much creativity comes out of barriers, once I have made peace with the worst possible thing that can happen and then proceed to approach hurdles with curiosity.” Eager to share her inquisitiveness, Moréniké remains passionate about supporting youth in STEM, particularly BIPOC who are underrepresented; she is also a volunteer educator, preceptor, and mentor to students at the UofA Faculty of Pharmacy and Pharmaceutical Sciences.

As her enterprise builds, she notes a shift in conversations, specifically the ability to speak more publicly about the many injustices that Black people

34 . VOL.1

have faced here in corporate Canada.

In her field, the disparity is glaring, unable to identify even one other Black Woman founder of a global medication manufacturing cooperation. The almost non-existence of capital investments has contributed to restricted access to Technology + Construction + Manufacturing fields for Black Women.

“I hope that by daring to live my truth that others would also dare to be who they were born to be. That would be a true honour.”

Black Wall Street Beyond the Fire greg davis

100 years ago, this May, one of the most horrific acts of ethnic cleansing took place on the streets of Tulsa, Oklahoma. Hundreds dead, hundreds more unaccounted for, millions of dollars in lost property. Renewed systemic policies touted ‘community betterment’ as their goal, but in truth were geared to shatter the long-term economic wellbeing and psyche of upcoming Black entrepreneurs. As tragic as the events of May 31, 1921, were, there is a lot we can still

learn from the marvel and splendor of what was Black Wall Street.

Black Wall Street is best described as a Business Revitalization Zone (BRZ) or a Business Improvement Area (BIA). Started in 1906 by O.W. Gurley, a wealthy Black entrepreneur who purchased 40 acres of land, which he then sold and financed exclusively to the Black community. This gave rise to a thriving community of Black-owned business representing varying industries VOL.1 . 35

36 . VOL.1

... working to create an eco-system that allows for the Black dollar to stay within the community for more than 6 hours... including, hotel, trade, retail, dining, legal services and more. As a result, the average dollar circulated within the community for around 36 days, which made the area one of the most financially affluent Black communities in America.

What should we learn from the example of Black Wall Street? The answer lays in working to create an eco-system that allows for the Black dollar to stay within the community for more than 6 hours. This system is anchored in a diversity of enterprises each supporting the other.

Part of the sophistication of systemic racism is ensuring that Black businesses

are pigeonholed into groups throwing off the balance of supply and demand, while discouraging true innovation.

To see long term financial success, our community must recognize the value in diversifying the enterprise pool to include artisans, designers, trades men/ women and pairing this diversity with innovation.

Let us look beyond common media narrative around Tusla and focus instead on the true brilliance of Black Wall Street. In doing so, our community will find the path to long-term financial sustainability.

Images courtsey of Tulsa Historical Society and Museum.

VOL.1 . 37

Resource Guide Below are a list of the organisations who have contributed to the establishment of this business journal

Resource Centers Africa Center The largest Black-led non-profit organization in western Canada, serving as a community hub, providing programs and services from a place of cultural awareness and competency to the families in our diverse Black community. www.africacentre.ca info@africacentre.ca (780) 455 - 5423

Alberta Women Entrepreneurs (AWE) Since 1995, AWE has provided tools and resources to help women across the province succeed in starting or growing a business.

For more than twenty-five years they have connected women with capital, training and workshops, business advice, and mentorship opportunities www.awebusiness.com info@awebusiness.com 1-800-713-3558

Black Business and Professional Association (BBPA) A national non-profit organization that addresses issues of equity and opportunity for Black professionals and entrepreneurs. They provide a host of seminars on financial literacy and business empowerment; they also offer a youth development programs. www.bbpa.org info@bbpa.org (416) 504 - 4097

Business Link Since 1996 Business Link has been a hub for new business. They offer advice, resources, coaching, market data and other tools to point entrepreneurs in the right directions to convert those innovative ideas into a lucrative plan. www.businesslink.ca (780)422-7722 38 . VOL.1

Business Development Futurpreneur This national non-profit organization provides direction on financing and mentoring as well as support tools to up and coming business owners ages 18-39. Their internationally recognized mentoring program pairs young entrepreneurs with a business expert from a network of more than 3,000 volunteer mentors.They also offer access to a free online Business Plan Builder. www.futurpreneur.ca bngoran@futurpreneur.ca (416) 408-2923 ext. 4693

Buy & Sell – Government of Canada Tender The Government is a customer and often purchases a broad range of goods and services from local businesses, including furniture, food, painting services, catering, janitorial services, and business consulting services to name a few. Small businesses can bid on posted tenders, adding the Government of Canada to their client list. www.buyandsell.gc.ca

Funding, Grants & Loans FACE- The Federation of African Canadian Economics A national coalition of Black-led organizations responsible for the new the 350-million-dollar Federal Government loans for Black Businesses in Canada. Apply online to gain access to capital and connect with professional development services. www.facecoalition.com info@facecoalition.com 1 (855) 560-FACE (3223)

Government of Alberta The Government of Alberta provides a host of business grants in varying sectors. Visit their website to learn more about what current programs exist to access funding for your business. www.alberta.ca/small-business-resources.aspx

AFRICA CENTRE

Africa Centre’s Entrepreneurial Support initiatives aim at creating opportunity for building a larger business community in Alberta through leading a full-frontal assault on the systematic barriers that limit the prospects for aspiring Black entrepreneurs.

Find out more at www.africacentre.ca/ entrepreneurial-support VOL.1 . 39

Captivating guests, stories and 40 . VOL.1 interviews about building community.

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