Indigenous Business

Truth and Reconciliation Report - Call to Action #92

We call upon the corporate sector in Canada to adopt the United Nations Declaration on the Rights of Indigenous Peoples as a reconciliation framework and to apply its principles, norms, and standards to corporate policy and core operational activities involving Indigenous peoples and their lands and resources. This would include, but not be limited to, the following:

1. Commit to meaningful consultation, building respectful relationships, and obtaining the free, prior, and informed consent of Indigenous peoples before proceeding with economic development projects.
    
2. Ensure that Aboriginal peoples have equitable access to jobs, training, and education opportunities in the corporate sector, and that Aboriginal communities gain long-term sustainable benefits from economic development projects.
    
3. Provide education for management and staff on the history of Aboriginal peoples, including the history and legacy of residential schools, the United Nations Declaration on the Rights of Indigenous Peoples, Treaties and Aboriginal rights, Indigenous law, and Aboriginal–Crown relations. This will require skills based training in intercultural competency, conflict resolution, human rights, and anti-racism.

In Canada there is a duty to consult and engage with First Nations, Inuit, Métis, Northerns, and the public regarding any Government activity that might adversely impact Indigenous people or their treaty rights, under the Constitution Act. This duty to consult is important for businesses who may need to use Crown land for purposes such a mining, forestry, drilling, etc. 

Aboriginal Financial Institutions (AFIs)

• “Autonomous, Aboriginal-controlled, community-based financial organizations. AFIs provide developmental lending and business financing to support services to First Nations, Metis, and Inuit businesses and communities in all provinces and territories. Support includes business loans, non-repayable contributions, financial and management consulting, and business start-up and aftercare services.”

Aboriginal Capital Corporations (ACC)

• “Aboriginal-owned and controlled business lending organizations that are capitalized by the Federal Government to deliver financing and advisory services for Aboriginal business development.”

Aboriginal Community Futures Development Corporations (ACFDC)

• “ACFDCs are capitalized by the Federal Government through regional development agencies (RDAs) and provide local communities with a variety of services, including business development loans, technical support, training, and information.”

Aboriginal Developmental Leaders (ADL)

• “ADLs that are capitalized either by the private sector or the provincial/territorial governments provide debt and equity and a variety of business support services, including federal, provincial, and territorial programs to status and non-status First Nations, Inuit, and Metis businesses and communities.”

For more information, visit: https://nacca.ca/aboriginal-financial-institutions/