Introducing the Canadian Black Chamber of Commerce

BY SIMONE J. SMITH

“Mission; to be the hub of the Canadian Black Business Ecosystem.”

Canadian Black Chamber of Commerce

Thursday, April 25^th, 2019, marked the launch of the Canadian Black Chamber of Commerce. This event was attended by many of the new, medium, and large black business owners in Toronto, and for good reason; what is about to be launched will help to foster trade and industry, stimulate civic development, and promote the welfare of the black community. What the founding members of the board have realized is that black business owners in our Canadian cities, towns and villages are in need of a united effort, if they are going to face the many difficulties that have arisen in the community.

There are many challenges black Canadian face when starting a business; the average annual revenue of a black business has been totalled at $54,860, and this is before the taxes are taken out. Business owners also have limited access to resources; they will apply for loans, be refused and they will never have a chance to speak to a bank manager. Another aspect that has to be considered when speaking of commerce is the spending power of black Canadians; the Asian community is said to keep a dollar in their community 120 times longer than the African community. Then there is the idea of “White folks ice is colder than ours,” meaning that if a black man and a white man are selling ice, black people would buy the white man’s ice; all of this remains part of the distorted and replicated narrative that exists in the community. When did this all start? History shows that it was not always like this.

‘When Egypt Ruled the East,’ a book written by George Steindorff and Keith C. Seele, speaks of a time when African commerce was at its height. An important event of the 18^th Dynasty was the resumption of commercial intercourse between the people of Egypt, and the people of Punt, just off the Somali coast. Queen Hatshepsut was in her ninth year when she proposed and implemented an expedition involving five great sailing vessels loaded with: weapons, strings of beads, rings and other wonderful jewellery. When the ships arrived at Punt, they traded their goods for the offering of the Puntites which included: myrrh trees, ebony, genuine ivory, gold, costly woods, incense, eye cosmetics, apes, monkeys, and other exotic animals. Not only did they trade with each other, but Queen Hatshepsut also issued her ambassador to entertain the chief of Punt with a banquet that served the finest: bread, beer, wine, meat, and fruit. When the ships returned home, the capital rejoiced at the array of rare treasures that had returned, and from that point on, intercourse with Punt was permanently maintained. What is important to note is that it was done with trading rather than military expeditions.

In Canada, the terms “board of trade” and “chamber of commerce” are interchangeable and synonymous and must be regarded as one and the same. It is the idea of trade that makes the Canadian Black Chamber of Commerce such a lucrative development. It is no wonder that Founder, Michael Forrest (experienced leader in Business Development for over 20 years), along with a group of chamber members and sponsors have devised a way to draw on all human resources available and put them to work for the general good of the community. Strong communities make a strong chamber, and CBCC will provide a training ground, producing business owners who are prepared to provide leadership in the community.

The night began with cocktails and networking, followed by the singing of the Black National Anthem. Michael Forrest then addressed the crowd and clearly defined the focus of the evenings discussion which would consist of: The four C’s: Community, Culture, Centres, Commerce; the importance of investing in black-owned business, breaking down the barriers of growth that exist in the community, the support that is need for black entrepreneurship, and providing access to capital and funds. That was followed up with a panel discussion that granted the guest speakers: MP Celina Ceasar-Chavannes, Consulate General of Canada in Atlanta, Nadia Theadore, and the representative of the US Black Chambers of Commerce Inc., Ron Bursby, the ability to share their wisdom on the opportunities that the CBCC provided. Nadia Theadore and Ron Buxby spoke extensively about black Canadian businesses expanding to the United States and forging a way to move the collective interests forward. It was interesting to learn about what makes Atlanta such an attractive city to develop relationships with; Nadia Theadore mentioned that Atlanta was welcoming diversity into the city, and there was an increased advancement in manufacturing

A definite take away of the event was when the panel highlighted the ability for CBCC to act as incubators and accelerators for the community. Incubators are designed to accelerate the growth and success of entrepreneurial companies through an array of business support, resources and services. They also provide numerous benefits to owners of a start-up business. A business accelerator is a program that gives developing companies access to mentorship, investors and other support that help them become stable, self- sufficient businesses; these programs can last anywhere from two–six months. The goal of CBCC is to help create and grow young businesses, and for these business owners to emerge ready to run on their own, with strong positioning to claim a share of their target markets.

For more information on membership, email info@blackchamber.ca, and visit their website at www.blackchamber.ca. You can also visit The Boards of Trade Act, which is available online at http://laws-lois.justice.gc.ca/eng/acts/B-6/index.html.