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Cultural tourism is one of the largest and fastest growing tourism markets globally. The urge to experience another culture or learn about another culture are common motivations for a great many tourists. In Canada, the uptick in Indigenous-led wildlife tours and community-based cultural experiences reflects the growth in this market. Both domestic and international tourists are increasingly drawn to Indigenous culture.

Did you know that many, if not most, large projects undertaken in Canada are being done by proponents without any effect on their own balance sheet? In commercial investment sectors this is known as project financing.  

Project financing is the development of a project where the bulk of the financing, both equity and debt, is repaid primarily out of the assets being financed and their revenues. It’s paid solely out of the project.

Here's an article from a family relative who recently started  Ki'mola Indigenous Capital a business that creates community wealth by investing effectively for Indigenous Peoples.

There has been a massive jump in Indigenous owned and operated businesses in Canada since the 1990s, when it was estimated there were just 6,000. That number grew to 27,000 in 2001 and according to the 2006 census the number of self-employed Indigenous people had grown to 37,000 - a growth rate five times that of self-employed non-Indigenous Canadians. By 2016, according to the Sodexo Canada Indigenous Business Survey, the number of Indigenous entrepreneurs had grown to 43,000. While we have not been able to determine what that means in terms of total contribution to Canada’s gross domestic product, we did find that the Indigenous tourism industry alone produces $1.4 billion of Canada’s annual GDP, and employs more than 33,000 people. 

All entrepreneurs face some challenges but not all entrepreneurs face the same challenges. Indigenous entrepreneurs face some challenges that those in the mainstream business sector do not, and the challenges faced by Indigenous entrepreneurs differ again, depending on factors that are unique to Indigenous entrepreneurs. For example, an entrepreneur setting up a business on-reserve may be impacted by the degree of remoteness and size of community whereas an Indigenous entrepreneur in an urban setting may be impacted by the absence of home community support. In this article we take a look at both business and social challenges for Indigenous businesses. 

 Updated: January, 2018

"Trade and specialization were common to First Nations in Canada and throughout the Americas in the pre- and early contact periods. Moreover, public infrastructure, standards, mediums of exchange, and property rights to support markets were also common before contact. Pre- and early contact First Nations in Canada had all six market characteristics required to promote economic growth.

This conclusion should not be surprising as the history of Canada is one of First Nation trade with Europeans. What would have been the history of Canada if the Hurons had not traded canoes to the eventual voyageurs? It has been argued by Harold Innis that the fur trade created Canada. The stories of initial First Nation contact with Europeans are almost entirely a result of trade and markets." [1]

"A central finding of this research is that Aboriginal procurement is not the same as traditional supply chain management. Procurement from Aboriginal contractors and communities involves relationship building and sustained partnership development in a manner unique from the typical request for proposal-style of supply chain contracting and service procurement that mining operations typically followed in the past. As such, procurement agreements with Aboriginal suppliers need to be approached and understood differently." [1]

A procurement strategy is the plan as to how your organization will procure (acquire) the cost-effective goods and services required to successfully operate. An Indigenous procurement strategy (IPS) is just as it sounds - a strategy to procure cost-effective goods and services from Indigenous firms, and are typically part of an Impact and Benefit Agreement between an organization and an Indigenous community.

Simply put, Indigenous procurement is the act of purchasing goods and/or services from an Indigenous-owned business. For example, my company, Indigenous Corporate Training Inc., is an an Indigenous-owned business that provides training for government, corporations, and individuals on how to work with Indigenous Peoples. So, for those of you who have taken my training, you, or your team lead, have engaged in Indigenous procurement.

Sometimes when the name says it all, the name says it all. This is true in a basic sense with Indigenous Economic Development Corporations. Namely a corporation (or group of corporations) formed to develop the economic activity of a community.

Economic Development Corporations (also known as “EDCs”) in short form are corporations formed under the laws of governmental regulation to manage the economic arm of the Indigenous community. They are becoming more and more commonly used in Canada and, more importantly, are becoming more influential in the overall Canadian corporate environment.

The first urban reserve in Canada was created in 1988 in the City of Saskatoon. The relationship between Saskatoon and Muskeg Lake Cree Nation (MLCN) was unique at the time but thankfully is no longer as urban reserves are becoming more common. Saskatoon now has five urban reserves and four Treaty Land Entitlement (TLE) selections. TLEs are lands that have been selected and acquired with funds under the Treaty Land Entitlement (1992) Framework.