4 reasons why Indigenous businesses are growing in Canada

(NC) Canada is seeing a real shift in the business landscape. Historically, Indigenous businesses faced challenges that made it difficult to fully participate in the economy. Today, several factors are helping level the playing field, creating meaningful opportunities for First Nations, Inuit and Métis businesses to grow:

1. Improved access to technology
   Better broadband internet access is making it easier for Indigenous entrepreneurs to reach customers both locally and nationally. It’s given small businesses in remote or isolated communities better access to a wider customer base. Increased connectivity also lets startups leverage social media, e-commerce platforms and digital marketing, helping them thrive in a competitive market.
2. Growing consumer appetite
   As Canada works to strengthen its relationship with Indigenous Peoples, Indigenous-owned businesses are seeing a growing demand for their goods, services and expertise. From arts and crafts to food products, training services and technology solutions, there’s a rising interest in Indigenous-owned enterprises and the unique and innovative perspectives they offer.
3. Supportive strategies
   Initiatives like the Procurement Strategy for Indigenous Businesses are ways to help improve economic opportunities for First Nations, Inuit and Métis. One aspect of the initiative is a requirement for Canada to award at least five per cent of the total value of its contracts to Indigenous-owned businesses. The results are measurable: in 2023 to 2024, these companies received 6.1 per cent of all eligible federal contracts.
4. An easier time finding business
   Free tools like the Indigenous Business Directory help clients find businesses that are at least 51 per cent owned and controlled by Indigenous people. Being listed in the directory increases visibility and can help businesses connect with new opportunities and partnerships.

Together, these factors are helping these businesses thrive and contribute to a more inclusive and prosperous Canadian economy that fosters innovation and strengthens communities.

You can learn more about opportunities for Indigenous businesses and the programs and initiatives supporting them at canada.ca/indigenous-business-procurement.