B2B News for Friday, February 26, 2021: Shop Local, Grants for Women-Led Businesses, Loans for Black Entrepreneurs

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The shop local campaigns for small businesses are starting to see B2B services create new products, or refine products, to support them more easily.

That support is necessary, says the Canadian Federation of Independent Businesses (CFIB). According to a report issued this morning, seven in 10 small business owners are in debt due to COVID-19. With an average of almost $170,000 per business, small businesses in Canada now owe $135 billion.

“Over the last six months, the average debt taken on by small businesses to deal with COVID-19 has grown significantly,” said Laura Jones, Executive Vice-President at CFIB. “While many businesses had previously reopened and were attempting to regain lost sales, the second wave and the restrictions that came with it are putting a massive wrench in an already slow recovery for small businesses.”

Press release: https://www.newswire.ca/news-releases/canada-s-small-businesses-now-collectively-owe-over-135-billion-as-a-result-of-the-pandemic-828627146.html

If you followed our three-part series on how the COVID-19 pandemic has impacted women-led businesses and professionals, you’ll want to spread the word about Visa’s partnership with IFundWomen.

The partners invite woman founders of businesses owned and operated in Canada to apply for a $10,000 grant and one-year IFundWomen Coaching Membership! Applications are open until March 12, 2021.

Grant application: https://ifundwomen.com/grants/apply-for-grants

The grant follows the release of the Prosperity Project’s 2021 Annual Report Card on Gender Diversity and Leadership: The Zero Report. The report sought to determine whether or not women in leadership level are being disproportionately impacted by the pandemic.

The Federation of African-Canadian Economics (F.A.C.E.), a coalition of Canada’s Black business and community support organizations, has partnered with the Government of Canada to deliver and co-develop the federal Black Entrepreneurship Loan Fund. Black entrepreneurs have often been shut out of conventional commercial loan application processes.

Press release: https://www.newswire.ca/news-releases/federation-of-african-canadian-economics-f-a-c-e-to-deliver-government-of-canada-loan-fund-to-support-black-business-owners-and-entrepreneurs-829250007.html

Waze Ads Starter has updated its small business advertising campaign management solution with new features. Its updates include a streamlined campaign management dashboard so campaign performance can be monitored with quick glances. The feature was previously only available to larger brands.

More Info: https://www.waze.com/ads/waze-ads-starter/ad-manager

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Kate Baggott

Kate Baggott is a former Managing Editor of B2BNN. Her technology and business journalism has appeared in the Technology Review, the Globe and Mail, Canada Computes, the Vancouver Sun and the Bay Street Bull. She is the author of the short story collections Love from Planet Wine Cooler and Dry Stories. Find links to recent articles by following her on LinkedIn https://www.linkedin.com/in/kate-baggott-9a0306/