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Diageo Canada and Business in the Streets (BITS) expand partnership to empower and fund entrepreneurs across Ontario

1. Diageo Canada expands partnership with BITS for funding young entrepreneurs. 2. New grants aim to remove financial barriers for aspiring business owners. 3. Over 1,200 entrepreneurs supported in past three years by Diageo and BITS. 4. Program includes vital business training and mentorship for underrepresented communities. 5. Bold Spirits Awards to offer CAD$5,000 grants to selected entrepreneurs.

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Why Bullish?

Diageo's backing of small businesses may enhance brand reputation and loyalty, leading to higher sales. Historically, corporate social responsibility initiatives have positively impacted stock performances in similar companies.

How important is it?

The expansion of this partnership reflects Diageo's strategic focus on community involvement, which can attract socially-conscious investors and customers, bolstering long-term growth and sustainability.

Why Long Term?

This initiative can foster long-term relationships with communities, enhancing customer trust and brand loyalty. Previous examples show that social responsibility investments yield results over time.

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ONTARIO--(BUSINESS WIRE)--Premium drinks company Diageo Canada and non-profit organization Business in the Streets (BITS) have expanded their partnership to provide underserved young entrepreneurs and small businesses in Ontario funding opportunities through the Bold Spirits Awards. This new series of grants are designed to provide critical startup funding to graduates of the BITS program, removing financial barriers and helping business owners transform their ideas into thriving ventures. This initiative builds on a successful three-year partnership between BITS and Diageo Canada that has already supported over 1,200 aspiring entrepreneurs in Toronto and Ottawa by providing them with the training and resources necessary to bring their ideas to life and create their own employment opportunities – this includes incorporating Learning Skills for Life, a Diageo global flagship training program for entrepreneurs and hospitality professionals. In Canada, the Learning Skills for Life curriculum equips participants with essential skills like budgeting, leadership, communication, and teamwork. “Since 2022, Diageo Canada has been an enthusiastic and vital partner of our work to offer business training, mentorship, funding and ongoing business support to underrepresented young people across Ontario,” said Kyle Monczak, Executive Director of Business in the Streets. “The Bold Spirits Awards provides an opportunity to recognize the often unseen contributions young entrepreneurs are making every day to improve their lives and benefit Canadian society. Diageo’s support will enable these early entrepreneurs to build on their progress and provide the resources they need to grow into successful businesses.” “We’re passionate about further supporting innovative initiatives that help break down barriers for ambitious individuals in underrepresented communities across Ontario,” said Jodi Rumble, General Manager, Diageo Canada. “Our partnership with BITS and the launch of the Bold Spirits Awards is our way to celebrate entrepreneurship and represents a vote of confidence in the next generation of business innovators.” The program’s success is evident in the achievements of BITS alumni, many of whom credit the combination of mentorship, skills training, and financial resources as key to their growth. "This program changed the game for me. I learned so much and my business has been flourishing since graduating from the program," said Rachel Perera, 2024 Alumni of the program. Eligible businesses in the Bold Spirits Awards will participate in four categories and, after a selection process based on their business journey, four entrepreneurs will be selected to receive CAD$5,000 in grants. To learn more about the new grant and the application process, visit Bold Spirit Awards — Business in the Streets. To learn more about Diageo’s Learning Skills for Life program visit: Diageo Bar Academy | Registration About Diageo North America Diageo is a global leader in beverage alcohol with an outstanding collection of brands including Johnnie Walker, Crown Royal, Bulleit and Buchanan's whiskies, Smirnoff, Cîroc and Ketel One vodka, Casamigos, DeLeon and Don Julio tequilas, Captain Morgan, Baileys, Tanqueray, and Guinness. Diageo is listed on both the New York Stock Exchange (NYSE: DEO) and the London Stock Exchange (LSE: DGE) and their products are sold in more than 180 countries around the world. For more information about Diageo, its people, brands, and performance, visit www.diageo.com. Visit Diageo's global responsible drinking resource, www.DRINKiQ.com, for information, initiatives, and ways to share best practices. Follow on Instagram for news and information about Diageo North America: @Diageo_NA. About Business in the Streets (BITS) Business in the Streets (BITS) is a Canadian charity dedicated to providing underrepresented young people with access to top-tier business training, mentorship, and funding. BITS empowers young entrepreneurs to build sustainable businesses, fostering a more inclusive economy and society.

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