Digital skills and government support: How to empower Indigenous entrepreneurs
BNN Bloomberg
According to research from the CCAB, a non-partisan group that supports Indigenous businesses, 70 per cent of Indigenous entrepreneurs have needed access to capital during the pandemic, but only about 50 per cent are applying.
Tabatha Bull was pleased with some of the items highlighted in the Liberal party platform when it comes to Indigenous economic issues, but said a lot will hinge on how those pledges pan out.
Her wish list from the federal government often circles back to breaking down barriers, so that Indigenous entrepreneurs have the same access to support systems as any other business owner, something that’s become even more pressing, she said, in the age of COVID.
“Initially with the emergency business account, you needed to have a prior relationship with a traditional financial institution,” said Bull, president and chief executive officer of the Canadian Council for Aboriginal Businesses (CCAB), in an interview. “Only about 33 per cent of Indigenous entrepreneurs had one. So initially that was a barrier.”
Amid the pandemic, the Canada Emergency Business Account provided business loans of up to $40,000 for non-profits and small businesses. But it wasn’t designed for Indigenous entrepreneurs, Bull added.
“At first, you had to have a certain amount of payroll, but it was a taxable payroll line, and if you’re a First Nations business with First Nation employees you would report your payroll on another line. I don’t think [these hurdles] were intended but did delay the availability.”
According to research from the CCAB, a non-partisan group that supports Indigenous businesses, 70 per cent of Indigenous entrepreneurs have needed access to capital during the pandemic, but only about 50 per cent are applying.
