Black Business and Professional Association launches Financial Literacy Program for Black youth and young adults

BY PAUL JUNOR

It is hard to believe that it has been thirty-eight years now since the Black Business and Professional Association (BBPA) has been making a difference in the African-Canadian Community. Since its inception in 1983, this non-profit, charitable organization has been at the forefront of providing programs that “Offer business classes, financial literacy, business readiness and marketing” (www.bbpa.org).

The organization is known for its signature event, the Harry Jerome Awards (HJA)  which honours outstanding Blacks who have excelled and contributed in twelve fields: athletics, leadership, business professional excellence, community service, life achievement, RBC young entrepreneur, media, technology, decade leader and president’s award.

In addition, it offers  BBPA National Scholarships and hosts the National Black Business Convention (NBBC). Although its office is closed because of COVID-19, it still offers a wide range of programs such as the thirteen-week series master class in Finance and Funding for Black-led Business. This is meant to ‘‘Successfully navigate the minefields of funding as a Black business owner. From gaining access to funding, managing debt, navigating tax season, preparing a solid business case for loan applications, and walking away a winner when seeking to acquire capital funding,” (www.bbpa.org/financial-literacy-level-up), Anyone interested can register at http://bit.ly/BBPALevelUp.  These will be held every Tuesday from May 11^th, 2021 to August 3^rd,2021.

The Community  Financial Literacy Space is intended to “Develop your financial literacy  by helping you understand financial concepts, financial statements, and financial management.” This online financial literacy/personal development program has the following objectives:

• To provide the tools for Black youth to be better prepared socioeconomically (the application of social skills and integration of financial literacy)
• To ensure that Black youth have a better sense of how to sustain a regimen that will allow them to build wealth while also maintaining a health trajectory of personal development
• To increase understanding between the affiliation of how life skills can increase the probability of financial well-being
• Character development and leadership skills in all aspects of learning, personal and professional development
• Engaging participants in interactive learning and capacity building through appealing content nestled in the appeal of pop culture
• Leaving participants with practical transferable life and professional skills set that will render them competitive on the open marketplace and in a number of industries and interests

Virtual sessions were held on May 15^th and June 5^th in which Irene Henriques (Professor of Sustainability and Economics and Area Coordinator of Economics of  Schulich School of Business), discussed the power of markets, incentives, and government.

Dr. Marcia Annisette (Associate Dean, Accounting Professor in Accounting of Schulich School of Business), discussed accounting by focusing on the importance of wealth, income and cash. There were additional sessions on July 10^th and July 17^th.