Blueprint: Backing Businessestm from Amex Canada Returns to Fuel Growth for Underrepresented-Owned Small Businesses in Canada

Program will facilitate access to mentorship and provide business owners with $10,000 each to help take their business to the next level

TORONTO, Nov. 22, 2023 /CNW/ - American Express Canada is excited to announce the return of the Blueprint: Backing Businessestm mentorship and grant program, powered by DMZ, designed to support the advancement of business owners who identify as Black, Indigenous or People of Colour across Canada. Starting today, eligible business owners in Canada can apply to be selected to receive one of 50 grants of $10,000 each to help fuel their next stage of growth. Selected recipients will also be offered access to a mentorship, coaching and networking program made possible by a grant from the American Express Foundation. Interested entrepreneurs can review program eligibility and apply today at dmz.to/AmexBlueprint.

"After two successful program waves, we're thrilled to be welcoming a brand-new cohort of deserving small businesses across Canada to the program," said Brett Mooney, President and CEO of American Express Canada. "It's an honour to provide entrepreneurs with the backing, resources, and network they need to excel, and we look forward to seeing what we can do together next."

As part of the company's long-standing global 'Backing Small' initiatives, Blueprint: Backing Businesses was introduced with the goal of providing financial support and resources to underrepresented small business owners in Canada. A survey of 2022 program recipients revealed that the program had a positive impact on their businesses, with 93 per cent of companies reporting that the program was "significant or vital" to their business success. A further 85 per cent of companies indicated they were on track to meeting business milestones, with close to three-quarters (74%) reporting they introduced new products, services, and offerings over the course of the program.

This was the experience of Nevell Provo, 2022 recipient and founder of Smooth Meal Prep, a Halifax-based, nationwide food delivery and catering service. According to Provo, the program not only provided him with the funding needed to upgrade his company's website, working with a dedicated mentor helped him to identify cost-saving measures and adjust the business's pricing structure. "The program taught me the importance of financial discipline and effective budgeting," said Provo. "With my mentor's guidance, I learned how to allocate resources more efficiently and track financial metrics to make informed decisions."

Blueprint: Backing Businesses offers a wide range of programming options for participants, including group workshops, small group learning sessions and 1:1 sessions with mentors and seasoned entrepreneurs. Topics cover key areas such as leadership, strategic planning, and operations management, in addition to providing participants with tailored strategies for success in response to industry-specific challenges.

The program is powered by DMZ, a world-leading business and tech incubator, instrumental in delivering both infrastructure and programming support across all stages of the program.

"Together with Amex, we're thrilled to kick off another year of this program and support small business owners across Canada who are breaking new barriers in entrepreneurship," said Abdullah Snobar, Executive Director, DMZ. "With improved access to funding, mentorship, and resources to inspire growth, the program continues to play an integral role in helping underrepresented entrepreneurs build a strong foundation for long-term success."

Starting today, business owners can apply for Blueprint: Backing Businesses by visiting: dmz.to/AmexBlueprint. Applications close December 13, 2023 EDT.

American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success. American Express was established in Canada in 1853 and offers a variety of consumer and business products. Learn more?at?americanexpress.ca?and connect with us on?Facebook, X,?Instagram,?and?YouTube. 

DMZ is a world-leading startup incubator based at Toronto Metropolitan University that equips the next generation of tech entrepreneurs with the tools needed to build, launch, and scale highly impactful startups. By providing connections to customers, coaching, capital, and a community, DMZ's customized approach helps innovators reach the next milestone in their entrepreneurial journey ? whatever that might be. Through its award-winning programming, DMZ has helped more than 800 startups raise $2.5 billion in capital and create 5,000+ jobs. Headquartered in Toronto, Canada with globally-accessible programming, DMZ has a widely-recognized international presence with offices in Vietnam, India, and the U.S., and partnerships across North America, Latin America, Africa and Asia. Learn more at dmz.to

SOURCE American Express Canada