Growing Aboriginal small businesses was a key focus of a meeting today involving Aboriginal leaders, the B.C. Small Business Roundtable and provincial cabinet ministers.

“Today's meeting brought several Aboriginal leaders from across B.C. together with the roundtable and cabinet ministers to exchange ideas on how to ensure Aboriginal small businesses can continue to grow, contribute to the economy, support communities and create jobs throughout B.C.,” said Coralee Oakes, Minister of Small Business and Red Tape Reduction and chair of the B.C. Small Business Roundtable. “The Province, working with the roundtable, will now focus on taking the ideas back to ministries and discussing the changes necessary to further help Aboriginal small businesses thrive in B.C.”

Participants discussed new ideas to help B.C.’s Aboriginal small businesses grow. Specific themes emerged, such as more opportunities for Aboriginal tourism, training in financial management and succession planning, and more skills training and learning opportunities for youth entrepreneurs.

The group also examined programs and services, such as the Open for Business Awards, the Aboriginal Small Business Resource Guide and the Aboriginal Business Circles Pilot to determine how they can be improved. The Aboriginal Small Business Resource Guides provide useful information about starting a business, finding funding and other supports, in one easy-to-read resource, while the business circles pilot teaches Aboriginal youth tactical skills, such as creating a business plan. Both initiatives were developed in partnership with the Small Business Roundtable and Community Futures Development Corporation of Central Interior First Nations.

During the meeting, the roundtable and guests discussed how to maximize the Open for Business Awards application process for Aboriginal communities. B.C.’s Aboriginal communities are growing and contributing to B.C.’s economy like never before, which is why the B.C. Small Business Roundtable wants to help identify ways to support small businesses in their communities. The Open for Business Award showcases communities throughout B.C. that have exceptional small business-friendly policies, programs or best practices, as selected by an adjudication committee chaired by the roundtable.

"I welcomed today’s opportunity to meet with the roundtable, cabinet ministers and other Aboriginal leaders to share our experiences growing Aboriginal small businesses,” said Chief Stuart Alec from the Nazko First Nation. “New business opportunities for our youth generate spin-off benefits for neighbouring communities and helps everyone succeed.”

Minister of Jobs, Tourism and Skills Training, Shirley Bond, and Parliamentary Secretary for the BC Jobs Plan, Greg Kyllo, briefed the group on the recently-released five-year update to the BC Jobs Plan, which includes strategies to grow the Aboriginal business sector and small businesses, and drive innovation in B.C.’s economy.

“Small businesses are critical to a strong and growing economy and we want to ensure that Aboriginal small businesses have the support they need to be successful,” Bond said. “In our recent Jobs Plan five-year update we have included a number of key initiatives to foster full participation in economic opportunities by Aboriginal businesses. Over one million British Columbians are employed by small business owners and we want to see that number continue to grow.”

Minister of State for Rural Economic Development, Donna Barnett, talked about government’s strategies for thriving and resilient rural communities including:

• investing the $75 million Rural Dividend Fund to the greatest benefit for regional communities;
• continuing to make targeted trades and training investments in rural communities to develop talent that supports local industry needs and contributes to a more diversified regional economy; and
• encouraging continued innovation in natural resource industries to maintain a competitive edge.

“The opportunity to hear directly from small business and Aboriginal leaders gives us valuable insight into many of their challenges and opportunities,” Barnett said. “Through initiatives like the Rural Dividend Fund, and working collaboratively with Aboriginal entrepreneurs and small businesses, we can enhance local economies in rural B.C.”

Following the meeting, the roundtable will raise suggestions from participants with other ministries as necessary, incorporate their feedback in its priorities for the year, and summarize the actions in the next annual report.

The meeting builds on previous Aboriginal consultations that the roundtable has held and helps fulfil the roundtable’s commitment to create opportunities for Aboriginal entrepreneurs as outlined in the 2015 and 2016 annual reports. Previous meetings resulted in the Aboriginal Resource Guide, partnering with Junior Achievement British Columbia (JABC) for the Aboriginal Business Circles pilot project, and inclusion of Aboriginal communities in the Open for Business Awards.

Quick Facts:

• There are over 1,200 Aboriginal-owned companies in British Columbia, many of which are small businesses.
• The Aboriginal Small Business Resource Guide is available online, at tradeshows and job fairs supported by the Province and at Service BC locations throughout B.C.
• The BC Jobs Plan five-year update has a number of strategies to help Aboriginal businesses, including: working to increase their participation as suppliers and subcontractors of major industrial projects and building new partnership opportunities with youth and B.C. First Nation entrepreneurs through the Aboriginal Business Circles Pilot Program in communities throughout B.C.
• Small businesses make up 98% of all business in B.C. and employ over one million people.
• There were approximately 388,500 small businesses operating in B.C. in 2015 – 313,500, or 81%, have fewer than five employees.
• British Columbia ranks first in Canada for the number of small businesses per capita, with 83 businesses per 1,000 people (national average is 70.3).

Learn More:

Aboriginal Small Business Resource Guide: http://www2.gov.bc.ca/assets/gov/british-columbians-our-governments/aboriginal-people/aboriginal-peoples-documents/aboriginal_small_business_resource_handout_web.pdf

JABC: http://jabc.ca/

Aboriginal Small Business and Investment Council: http://www.bcabic.ca/

BC Jobs Plan Five-Year Update: https://bcjobsplan.gov.bc.ca/app/uploads/sites/21/2017/01/JobsPlan_5YearUpdate_web-1.pdf

B.C. Small Business Roundtable Annual Report: https://www.smallbusinessroundtable.ca/getattachment/Home/SB-Roundtable-Annual-Report-2016.pdf.aspx

Small Business in B.C.: http://www2.gov.bc.ca/gov/content/employment-business/business/small-business