Recent federal announcement of Indigenous business aid brings relief to Red Rock Indian Band business owner
By Rick Garrick
RED ROCK INDIAN BAND — Superior Strategies owner Jason Thompson is applauding Prime Minister Justin Trudeau’s Apr. 18 announcement of up to $306.8 million in funding for small and medium-sized Indigenous businesses and Aboriginal Financial Institutions.
“It’s a very positive move — it is great to see there is support coming for the Indigenous businesses,” says Thompson, a Red Rock Indian Band citizen. “The government understanding that Indigenous businesses operate a little differently than non-Indigenous businesses is important to see.”
The funding is aimed at helping about 6,000 Indigenous-owned businesses to get through the coronavirus disease 2019 (COVID-19) pandemic by providing access to short-term, interest-free loans and non-repayable contributions through Aboriginal Financial Institutions.
“For my business, obviously access to some funding to help us through these troubled times is always valued,” Thompson says. “The news that the federal government is looking at ways to work with Indigenous businesses outside the regular norm of tax breaks is definitely positive news, and I think it will be of great benefit.”
Thompson says his training and consulting business has been negatively impacted by the pandemic.
“Obviously there is no training going on,” Thompson says. “Fortunately enough, we are still doing some consulting work but we can only carry that on so long without any action.”
Thompson says his supply business is one of the few 100-per cent Indigenous-owned supply companies with access to COVID-19-related safety products such as hand sanitizer, surgical masks, N95 masks and disinfectant solution.
“It’s been good for us — we’re accessing products and trying to keep the costs down but also supporting our community,” Thompson says. “So we’re kind of on both sides of the spectrum here with two different businesses I operate.”
Thompson says he has reached out to the provincial and federal governments about how they have access to products and want to help.
“And I very much point out that I want to make sure we’re looking after our First Nation communities because oftentimes we are overlooked,” Thompson says. “So I’ve made it very clear to both the province and the feds that we have access to these products and I am going to be very transparent on my pricing and costs to get these products [from] overseas. I’ve made numerous attempts to reach out to the province and feds and I’m finally making some headway there.”
Trudeau’s announcement was part of the federal government’s COVID-19 Economic Response Plan.
“We will always be there for Canadian businesses, and we are working hard to make sure that Indigenous business owners have the support they need during this period of uncertainty,” Trudeau says. “Entrepreneurs are at the heart of communities right across the country, and we’re going to help them bridge to better times.”
The funding is also aimed at supporting Aboriginal Financial Institutions that offer financing to Indigenous businesses.
“Businesses across Canada are being impacted by COVID-19 and the government is taking action,” says Bill Morneau, Canada’s Minister of Finance. “This targeted support will help First Nations, Inuit and Métis businesses have greater access to financing that will help them stay strong, so they can continue to grow and thrive when this crisis passes.”
Marc Miller, Minister of Indigenous Services Canada, says some Indigenous businesses that are already facing unique challenges, such as being in rural or remote locations and having less access to capital, are disproportionately affected by the pandemic.
“The support provided will allow for maximum flexibility in supporting local businesses, whether they be entrepreneurship, cooperative businesses or any of the many industries across Canada to continue contributing to their communities,” he says.