Imagine moving to a foreign country with dreams of starting your own business, only to find out that you cannot access a loan without collateral.
This is exactly what happened to Jackee Kasandy, an immigrant entrepreneur from Kenya who aspired to place kiondo bags and scarves on the global map.
Kasandy faced numerous roadblocks from Canadian lending institutions in her bid to get funding, and without owning any property, it proved to be difficult to access any type of funding.
She was forced to use up all her savings, her credit card, and even her Registered Retirement Savings Plan (RRSP) to launch her business.
Years later, Kasandy launched the Black Entrepreneurs and Businesses of Canada (BEBC) and a contest that offers a $30,000 prize for Black entrepreneurs with big ideas and small bank balances. The Black Pitch Contest, as it is called, has attracted nearly 150 entries from across the world with entrepreneurs submitting short videos outlining their ideas. The competition provides a platform for Black entrepreneurs, who are often overlooked, to access funding that they might not otherwise have had access to.
The inspiration for the competition was driven by Kasandy’s past, where she struggled to get funding. The Black Pitch Contest provides a way for entrepreneurs to access funding without needing collateral, and without requiring entrants to have full business plans with their pitches.
With this competition, Kasandy is making a significant impact on the Black entrepreneurial community in Canada.
Her dedication and hard work in creating opportunities for Black entrepreneurs has undoubtedly helped countless people realize their dreams and aspirations.
In addition, through her shops, clients get to buy kiondos at a maximum price of Ksh18,330 ($150). Kasandy’s business, as well as the Black Pitch Contest, is an example of the kind of forward-thinking and innovative ideas that are making Canada an increasingly popular destination for entrepreneurs from all over the world.
