180, ELM STREET, TORONTO / AGILITYPR.NEWS / December 01, 2020 /  

FOR IMMEDIATE RELEASE

HSBC AND THE BBPA SUPPORT BLACK BUSINESSES WITH MENTORSHIP AND NEW BUSINESS ADVISORY IMPLEMENTATION AND DEVELOPMENT SERVICES (BAIDS)

Program provides resources and solutions needed in tackling Black business challenges to achieve success in the post-covid recovery stage

TORONTO, ONTARIO, December 1, 2020 – The Black Business and Professional Association is set to launch its Business Advisory Implementation and Development Service (BAIDS), a mentorship initiative and consultancy program for Black Businesses across Canada. Programming will focus on supporting Black businesses with resources and solutions needed to tackle the challenges in a post-Covid 19 recovery stage. Solutions include consulting with businesses to have better access to financing from Canada’s mainstream banking sector. 

The BBPA has recognized that many Black businesses have difficulty securing funding from financial institutions to scale up their businesses.

“This essential hands on service provides avenues to a better future for Black entrepreneurs,” Spencer said. “After COVID-19, the Black community, which has been adversely impacted, will need a great deal of assistance in sustainable economic recovery. BAIDS is exactly designed to meet that objective and we look forward to supporting Black businesses across Canada with this integral initiative. Black business success is our goal and BAIDS will accomplish that.”

The Business Advisory Implementation and Development Services (BAIDS)program will partner with black businesses pairing them with a mentor/consultant and review their businesses end to end, providing them with the services they will need to propel their businesses forward. Technical support experts in the field of marketing, operations, technology, supply chain, human resources, finance and other expertise required to set them up for success.

“Black business owners can face significant challenges in accessing the support and capital they need to sustainably grow their business. Our support of the BBPA aims to address that as part of our wider commitments to diversity and inclusion, and specifically to Black communities,” says Stacey Oree, Chair of HSBC’s Caribbean and African Network for Diversity and Inclusion and Head of Financial Crime and Fraud Risk for HSBC Bank Canada. “I’m so proud of this partnership because we aren’t just investing financial support. We will get our colleagues involved as mentors and speakers and directly engage with business owners on some of the challenges – and opportunities – they face.” 

HSBC’s contribution will additionally support the BBPA’s Mentorship Program where youth aged 14 to 29 will receive various aspects of mentorship in the areas of entrepreneurship, employability skills and technology. The program is delivered through workshops, coaching and attendance to events.

The programs start December 10th, 2020 and will run through 2021. For more information visit www.bbpa.org

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About the Black Business and Professional Association (BBPA)

Founded in 1983, the BBPA is a charitable organization aimed at advancing Canada's Black community by facilitating the delivery of programs supporting business and professional excellence, higher education, and economic development. The BBPA represents the interests of Black businesses and professionals throughout the greater Toronto area, and is involved in advocacy, training, communications, and leadership development. Along with workshops and programs at its Centre of Excellence, the BBPA presents the annual Harry Jerome Awards, the BBPA National Scholarships, and the National Black Business Convention (NBBPC). For more information, please visit the BBPA at www.bbpa.org.

About HSBC

HSBC Bank Canada, a subsidiary of HSBC Holdings plc, is the leading international bank in the country. We help companies and individuals across Canada to do business and manage their finances internationally through three global business lines: Commercial Banking, Global Banking and Markets, and Wealth and Personal Banking. HSBC Holdings plc, the parent company of the HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 64 countries and territories in Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of US$2,956bn at 30 September 2020, HSBC is one of the world’s largest banking and financial services organizations. In 2019, HSBC donated more than $4 million to registered Canadian charities as part of HSBC’s global, comprehensive commitment to sustainability. Read HSBC Bank Canada’s Public Accountability Statement [SW1] to learn more.

Ross Cadastre, Communications Director                              Sharon Wilks, Head of Media Relations

Black Business & Professional Association (BBPA)              HSBC Bank Canada

e. communications@bbpa.org p. 416 504 4097                 e. sharon_wilks@hsbc.ca, p. 416 868 3878