b'BUSINESS FUNDINGof Commerce (CGLCC) that likened theThe hardest part is situation to an unfair game of monopoly. The metaphor was useful for illustratingunderstanding how the inequity of the startup experience formany in the LGBTQ+ community today. Forfunding systems these entrepreneurs, starting out with a newworkwhats business is like joining a game of monopoly [already in progress]. All the prime propertiesoffered through have been sold, the resources are depleted, and you started late, so you find yourself withgovernment and nothing. And you also know youre not goingnon-government to win!Startup Canada started up in 2012,organizations.after a great deal of initial research and consultation with business owners across- LAURA WHITELAND, Canada. Our consultations were with aOWNER OF INCLUSIVE FINANCIALvery broad cross-section of large and small, experienced and inexperienced, diverse entrepreneurs, Isabelle says. Our non-profit was created as a gateway or singletheyre being fair and equitable with facing people in the LGBTQ+ community, point of entry into Canadas entrepreneurialdiverse-owned businesses. Whiteland continues. Theres so many ecosystem. We were not yet a nation ofAnd what are some of the specificthings to do and so much that needs to be entrepreneurs, so there needed to be someproblems that beset LGBTQ+ businesses? prioritized that I can help with. But every assistance for start-ups at the federalDiverse-owned businesses have a much level. And thats what we area centralharder time collecting capital and ensuringstart-up is unique, and there is no template. organization where many different groups,a healthy cash flow, which is essential,The hardest part is understandinginterests and individuals can benefit from anStewart explains. Most of the major bankshow funding systems workwhatsamplified voice. collect very accurate statistics on a varietyoffered through government andOne of the reasons we partner withof business financial data, such as loansnon-government organizations.CGLCC relates to our mission to support,and venture capital financing. What theMany great organizations are making connect and amplify organizations that existstats reveal is that LGBTQ+ businesses areprogress, but no one has the bandwidth to by and for underrepresented founders, shedefinitely at a disadvantage. Perhaps theseaddress the entire LGBTQ+ community, adds. And through our many other micro- businesses are seen as riskier ventures. I partnerships, we can better serve the needsbelieve there still exists an unconscious biasIsabelle concurs. Thats why Startup Canada of unique sectors and serve them moretowards themand loan officers may notwanted to assist with the research and bring effectively. Weve also done a lot of work toeven realize theyre doing it. So we try totogether resources and organizations that diversify and ensure that our own staff aremake sure these organizations are aware ofsupport the community. Weve put much representative of the LGBTQ+ community. their biases. Theres some progress beingof that information into a massive resource My day-to-day working life is aboutmade, but its very slow, even in todaysguide. So far, that guide appears to be one dealing with entrepreneurs at completelyenlightened world. of the most utilized resource packages weve different stagesfrom the first year, to yearsSpeaking directly from experience as anever done.or even decades [after], says A.J. Stewart,entrepreneur, and a financial planner for the Manager for Membership and SupplierLGBTQ+ community, is Laura Whiteland, theSome progress is certainly being made Diversity at CGLCC in Toronto. I primarilyowner of Inclusive Financial in Truro, N.S.in the financial arena. Im an out financial deal with small to medium-sized businessesIve been a financial planner for almost 10planner and I think that alone is a huge sign with diverse suppliers. A diverse supplieryears, so Ive seen some slow progress, sheof progress, Whiteland concludes. Every is a person or persons from the LGBTQ+says. What financial support exists dependsyear, I think, we get further ahead.community who owns at least 51 per centvery much on the region, province, city andMonopoly, of course, is only a board of their company. I assist with certifyingtown. The national CGLCC is in Toronto, andgame, typically won by the luckiest roll of businesses as LGBTQ+-owned businessestheres a variety of smaller regional chambersthe dicein spite of what some players mayaccording to our guidelinesand giveof commerce in certain locations. Butpretend. But when it comes to the very real those enterprises access to our corporatewhere youre doing business makes a huge members who are already big advocates ofdifference to access. game of entrepreneurial opportunity and the community. This list of suppliers Im a start-up myself, so I have afinancial support, the LGBTQ+ community is includes companies trying to ensure direct connection to the hurdles and issuessimply asking to be invited to the game. Issue 22022 | QBiz CANADA |13'