TORONTO – INDIGENOUS – Futurpreneur, Canada’s only national, non-profit organization providing financing, mentorship, and resources to young, aspiring entrepreneurs, today announced its partnership with the Canadian Aboriginal and Minority Supplier Council (CAMSC). CAMSC facilitates the growth of Aboriginal and minority-owned businesses by connecting them to procurement opportunities with companies and governments committed to a diverse and inclusive supply chain.
The partnership, which connects diverse businesses within the Futurpreneur ecosystem with certification and networking opportunities amongst CAMSC’s members, is focused on balancing the diversity equation for small businesses through inclusive supply chain and mentorship opportunities. In tandem, the relationship creates the potential to develop a growing base of diverse volunteer mentors who provide business advice, as well as support and encouragement, to help young entrepreneurs remain focused on what is important for the success of their business.
Mentoring is a key component of business success and Futurpreneur’s volunteer mentors have the ability to share valuable knowledge and experiences that can support the next generation of diverse entrepreneurs. By forming a diverse mentor pool, Futurpreneur helps to facilitate a peer-to-peer support network that ensures economic growth within underrepresented communities across the nation.
“The pandemic’s disproportionate effects on minority-owned small businesses are a reminder that we are not all on equal footing,” said Kevin Garcia, Head of Diversity & Inclusion, Futurpreneur. “Helping diverse businesses grow and succeed, especially through the effects of COVID-19, is not only a priority for both Futurpreneur and CAMSC, but also part of a commitment to enrich the communities they represent across Canada.”
Founded in 2004, CAMSC, is a not-for-profit organization that certifies and prepares Aboriginal and minority-owned businesses to commercially engage and respond to corporate and government organizations. CAMSC helps large organizations develop their own inclusive procurement processes and promotes contacts to certified Aboriginal and minority-owned suppliers in addition to connecting buyers and suppliers with improved mutual recognition. Organizations see advantages from the benefits of a more diverse and inclusive supply chain.
“The importance of educating and propagating supplier diversity and inclusion is important because by 2031, one in three Canadians will be Aboriginal or a visible minority,” said Cassandra Dorrington, President and CEO of CAMSC. “Sustained momentum for these populations now will be essential to the entire population.”
Impact studies have quantified related benefits that include innovative product design and sourcing solutions, cost savings, improved employee retention, local job creation, stronger brand loyalty and increased revenues. Since its inception, CAMSC has facilitated over $7 billion in spending. With over 100 corporations as members, 450 certified suppliers as partners, and another 100 new suppliers in the process of being certified, the CAMSC network directed over $1 billion in spending during 2020.
Interested in being a volunteer mentor?
Are you an experienced entrepreneur or intrapreneur looking for the opportunity to make a difference in helping young entrepreneurs build successful startup businesses? Mentoring with Futurpreneur could be the most rewarding decision you make, as it has immeasurable impact. Diverse communities across Canada including Black, Indigenous and People of Colour, can benefit substantially from a mentor with similar lived experiences. As a mentor from an underrepresented community, you can give back to the community by contributing to the economic development of your society, and reinforcing the strength that businesses owned by people in communities have within a community and economy. Whether you have benefited from a mentor yourself, or are looking to strengthen the community, mentorship is a powerful way to support the next generation of underrepresented entrepreneurs. If you are interested in registering to be part of a network of over 2,400 volunteer mentors, and aiding local business growth, visit our mentorship page to register.
CAMSC is a non-profit organization established in 2004 to advance the economic strength of Aboriginal and visible minority communities through business development and employment. CAMSC’s mission is to facilitate business relationships with Canadian corporations and supplier organizations owned by Aboriginals and minorities. Since its inception, corporate members have spent more than $7 billion with CAMSC certified Aboriginal and minority-owned businesses and the network continues to grow.