The Canadian Chamber of Commerce has released a report titled Ten Ways to Build a Canada that Wins. Number 8 on that list: Assure Better Access to Capital for Indigenous Entrepreneurs.
Thebacha Business Development Services is an Aboriginal Financial Institution And Community Futures office. Providing capital for new and existing Aboriginal Entrepreneurs is what we do!
If you need help turning your idea into a business, call or email Linda to make an appointment. At TBDS, helping business start and succeed is what we do!
Excerpt from Ten Ways to Build a Canada that Wins:
Although public attention often focuses on the
opposition of Indigenous peoples to economic
projects proposed by others, few Indigenous
communities do not want self-determination and
long-term economic prosperity that improves
quality of life.
Building the capacity for Indigenous communities
to benefit from economic development may
involve many factors, among them transportation
and communications infrastructure, clean
water, safe and comfortable housing, access
to education and training, health care and law
enforcement. Often, it will also require access
to capital.
Whether as proponents themselves, or as
partners and service providers to proponents,
Indigenous entrepreneurs need capital to invest
in equipment, training and other tools that can
translate the benefits of short-to-medium-term
projects into the long-term benefits of jobs and
wealth for their communities. In some regions of
Canada, particularly where Indigenous peoples
have modern land claims, these Indigenous
economic development corporations are seen
as sources of capital by the broader business
community and economic engines for regional
growth and employment.
In 2017, we will continue to advocate that
the federal government fulfill its commitments
to address fundamental quality of life issues
(including housing, water quality, education, law
enforcement and health care) for Indigenous
peoples. We will also press the federal
government to assist Indigenous entrepreneurs
by offering guarantees for business loans or
insurance that can help them access capital
at terms that align with their needs. In addition,
we will advocate that Indigenous entrepreneurs
have the tools necessary to establish credit
ratings so they can explore various sources of
financing, including private sector banks, credit
unions and other financial institutions. Finally,
we will look into federal programs that support
Indigenous entrepreneurs, including those offered
by the Business Development Bank of Canada,
to determine if they could be improved to better
meet their needs.
