In Budget 2021, the Government of Canada announced the Canada Digital Adoption Program (CDAP) to support Canadian small and medium-sized enterprises. CDAP will help SMEs boost their e-commerce presence and digitize how they run their businesses behind the scenes. The program provides funding and expertise to businesses, as well as training and work opportunities for young Canadians. The CDAP is an investment of $4 billion over four years, comprising two streams aimed at helping small and medium-sized enterprises transform digitally. It will include providing $2.6 billion in zero-interest loans to help Canadian businesses adopt new technologies.

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The Government of Canada announced the launch of the Black Entrepreneurship Program, a new three-part initiative meant to support Black Canadian entrepreneurs amid COVID-19 and beyond. Up to $221 million is being committed to the program, which the federal government touted as the first of its kind in Canada. Most of the funding ($128 million) is from seven Canadian financial institutions, with $93 million being invested directly from the federal government over a four-year period. The Black Entrepreneurship Program will focus on providing funding and resources to Black entrepreneurs and small and medium-sized business owners. The initiative includes three programs:

（1）     National Ecosystem Fund, which will be created to help Black business owners and entrepreneurs access funding, mentorship, financial planning services, and business training.

（2）     Black Entrepreneurship Loan Fund, includes the partnership of financial institutions, including Canada’s Big Five banks as well as Vancity and Alterna Savings, will provide loans between $25,000 and $250,000.

（3）     and Black Entrepreneurship Knowledge Hub, which will collect data on the state of Black entrepreneurship in Canada and help identify barriers to success as well as opportunities for growth. Up to $1.5 million is being set aside for the Hub’s operation costs.