Woolen blankets with colourful designs hang on a wooden ladder at Boy Chief Trading Post on the Siksika Nation, 45 minutes east of Calgary, are now sold in over 50 stores across Canada and the United States. (Livia Manywounds)

Ottawa announces plans to aid struggling Indigenous businesses

The federal government–taking steps to help some 6,000 Indigenous-owned businesses struggling because of the COVID-19 pandemic–has announced $306 million in funding for short-term, interest-free loans and non-repayable contributions for First Nations, Inuit and Métis businesses.

The money, which will secure financing and provide business support services, will be administered by the National Aboriginal Capital Corporations Association.

Indigenous Services Minister Marc Miller says many smaller, Indigenous businesses are being disproportionately affected by the economic downturn of the COVID-19 pandemic. 

They include a great number of smaller companies that lack access to financing from larger banks.

“These businesses may and are already facing unique challenges such as being in rural or remote locations and having less access to capital,” Miller said.

Shalyn Ward, a 17-year-old high school student from Natoaganeg First Nation in New Brunswick, says she received help from others in her entrepreneur course to package the candy cane ornament starter kit.for her beading business. (Shalyn Ward/Submitted)

In March, Prime Minister Justin Trudeau announced that Miller would be a full member of the government’s COVID-19 Committee, and promised Indigenous leaders that Ottawa would help First Nations, Métis and Inuit communities fight COVID-19 based on their individual needs, and that the purse strings would remain open.

Fort Good Hope is a small fly-in community in the Northwest Territories. Like so many other places in Canada, it is struggling with the economic fallout of COVID-19. (Submitted by Pat Kane / Pat Kane Photography)

Last week, Ottawa announced it would provide $129.9 million specifically for Yukon, Nunavut and the Northwest Territories to not only help with the health-care system’s response to COVID-19, but to provide financial support for northern airlines and other businesses.

The government said providing up to $17.3 million for northern airlines would ensure that those companies could continue to fly essential goods like food and medical supplies into remote communities.

“No Canadian should ever have to worry about where to get their food or how to receive essential health care services,” Trudeau was quoted as saying in the release detailing the announcement.

With files from Canadian Press, CBC News (Olivia Stefanovich), RCI

Categories: Economy, Health, Indigenous
Tags: , , ,

Do you want to report an error or a typo? Click here!

For reasons beyond our control, and for an undetermined period of time, our comment section is now closed. However, our social networks remain open to your contributions.