With the challenges of the pandemic, new funding is available for Indigenous-owned businesses struggling through the pandemic.
ALBERTA-New measures are in place to provide assistance to First Nations, Inuit and Métis businesses that have been hit by the pandemic.
The Indigenous Community Business Fund (ICBF) has provided key support for Indigenous businesses across the country. Indigenous Services Canada Alberta Region has provided $16.5 million to support Indigenous community-or collectively owned businesses and microbusinesses whose revenues have been affected by the COVID-19 pandemic. This funding has been distributed to businesses in all 46 Alberta First Nations.
The ICBF supports the operation, adaptation, planning and reopening of First Nations, Inuit and Métis businesses. By relieving financial pressure, the ICBF helps communities keep members employed and businesses open. In Alberta, it has supported retail businesses, casinos, and tourist operations to name a few-all of which are major economic drivers for First Nations communities.
Through the ICBF, $4.4 million will support businesses owned by Enoch Cree Nation, River Cree Convenience Inc., River Cree Tobacco Shop Inc., and the Enoch River Cree Resort, as well as employment in the community.
"Enoch Cree Nation is the largest indigenous employer in the Alberta capital region; our businesses rely upon over 300 Indigenous employees from communities outside Enoch. Pandemic closures have resulted in over 600 job losses for our Nation's hospitality and entertainment sectors alone," said Chief William (Billy) Morin of the Enoch Cree Nation. "For those employees and their families who lost their jobs, the Government of Canada's ICBF contribution is significant to providing hope, certainty and safety in the eventual re-opening of our business operations."
In addition to the ICBF, Indigenous Services Canada has also committed up to $306.8 million in relief measures for small-and medium-sized Indigenous businesses across Canada in the form of interest-free loans and non-repayable contributions. It has also provided $16 million to support Indigenous tourism through the pandemic into recovery through the COVID-19 Indigenous Tourism Stimulus Development Fund.
This commitment comes in addition to $4.2 billion announced in December for specific COVID-19 support to Indigenous and northern communities and organizations, and $117 million that the Government of Canada designated in June 2020 for the ICBF to support Indigenous businesses that do not qualify for other Government of Canada COVID-19 relief measures.
Through two streams of funding, the ICBF has distributed non-repayable financial contributions to Indigenous businesses. Stream 1 funding was transferred directly to communities and collectives to immediately support their COVID-19 economic priorities. Stream 2 funding is proposal based and an application is required.
"As we continue to follow public health measures and work to distribute vaccines, I am heartened to see that key COVID-19 business relief measures such as the ICBF are providing support so that vital community businesses can continue to operate," says the Honourable Marc Miller, Minister of Indigenous Services. "I commend the Indigenous leaders in Alberta and across the country who have worked without cease to keep their communities safe and ready to open for business again, as guidelines permit."
