Latest news with #IndigenousProsperityForum
Cision Canada
6 hours ago
- Business
- Cision Canada
We're back!! Indigenous Prosperity is Here To Stay
, /CNW/ - We're back. Collectively, Indigenous people are now an economic power to be reckoned with. The statistics show as much: the $56 billion that Indigenous businesses add to the Canadian economy each year, or tens of billions in assets held by Indigenous economic development corporations. What brings it home for me though are the people. This past May, at the National Aboriginal Capital Corporations Association's (NACCA) sixth annual Indigenous Prosperity Forum, I looked around the room at all the young Indigenous business owners attending. The youth were confident, ascendant. Digital creators, artisans, carpenters, business managers: all these young people have assumed their place in the broader economy, just as their ancestors intended. And the youth also saw their responsibility to give back to their communities—all the more where they benefit from the same rights that their parents and grandparents fought hard to reclaim in prior generations. Make no mistake: those rights have driven our re-empowerment. Indigenous people have won almost every case involving resource rights we have brought before the courts. Governments at every level will recall this if they try short-circuiting our rights to expedite approvals for major resource projects. Indigenous leaders are again reminding them of our treaties and their constitutional obligations. Federal and provincial governments say they want to move as swiftly as possible. They can do so only by involving our leaders—early and often. We've already shown that Indigenous people are business-minded, yet our bottom-line also involves responsibilities to our communities and our lands. So why not work with us to ensure we can meet them? To succeed, a major project on Indigenous land will need to rest on three pillars: equity partnerships, impact benefit agreements, and resource revenue-sharing with governments. First, major projects need to bring in economic development corporations as equity partners, to ensure that communities also have a stake in a project's success. Second, the conclusion of Impact Benefit Agreements will help ensure that local economies can also benefit from jobs and contracting opportunities. Third, Crown parties will need to share their government resource revenues with the governments of impacted communities, who will need to steward their territories long after the projects have ended. As an additional crucial measure, Canada also should include an Indigenous member to the federal selection committee for major projects. One thing is certain: we are back. We're an economic force, and we're not going away. The upcoming cohort of youth entrepreneurs is strong, smart, committed—an inspiration to other youth in our communities as they reclaim their pride and self-reliance. Canadian historian Professor Ken Coates framed it well at the Indigenous Prosperity Forum: "the work being done now is building a Canada for 2050 and 2075. Indigenous prosperity is imminent, and it's been an honour to watch the transformation." Indeed, it's been an honour to watch. Now let's transform Canada's economy together. About NACCA NACCA, the National Aboriginal Capital Corporations Association, is a network of over 50 Indigenous Financial Institutions (IFIs) dedicated to stimulating economic growth for all Indigenous people in Canada. These efforts increase social and economic self-reliance and sustainability for Indigenous people and communities nationwide.
Cision Canada
11 hours ago
- Business
- Cision Canada
Unlocking Indigenous Prosperity through Procurement: The First Nations Procurement Authority
ENOCH, AB, June 19, 2025 /CNW/ - As a new session of Parliament begins, the government has ambitious plans for economic renewal, defence and infrastructure investment. Canada is preparing to rebuild, invest, and grow. But unless Indigenous businesses are directly included in government procurement, we'll once again miss a generational opportunity. Enter the First Nations Procurement Authority (FNPA), a new not-for-profit corporation created by five national Indigenous economic organizations on May 1, 2025. Its purpose is simple yet transformative, to certify, support, and connect genuine First Nations businesses with government and corporate buyers. Not just another organization, the FNPA is Canada's best chance yet to ensure that First Nation businesses can share in the over $23 billion that government spends on procuring goods and services annually. The status quo isn't working. At the recent Indigenous Prosperity Forum in Gatineau, Assembly of First Nations National Chief Cindy Woodhouse Nepinak was clear: "We're calling for transformative change," she said, "a dedicated agency, led by First Nations, to certify and support genuine First Nation entrepreneurs." Why the urgency? First Nations businesses owners have been shut out of the larger Canadian economy for generations, now finding themselves new entrants in procurement processes that are complex and rigid. Worse, bad actors have been using fraudulent claims to Indigenous identity, preventing First Nation businesses from accessing opportunities intended for them. Indigenous quotas and set-asides are a welcome beginning. On their own, though, they do not suffice. For far too long, outdated vendor lists, absent relationships, and cumbersome processes have prevented authentic First Nation businesses from connecting with government and corporate buyers. The FNPA will aim to reverse this trend—by offering a tried, trusted, and accessible solution to this stubborn inequity. A trusted, First Nation-led solution The solution is simple, elegant even, with a mandate to maximize procurement opportunities and outcomes for First Nations businesses and communities. The FNPA will offer a primary access point for First Nation businesses to government and corporate buyers, helping ensure First Nations people receive safe, inclusive, and equitable procurement opportunities. Tried. The FNPA was founded by five national Indigenous economic institutions that have changed the landscape in their respective spheres. The inaugural board includes a member from each of the National Aboriginal Capital Corporations Association (NACCA), AFOA Canada, the Council for the Advancement of Native Development Officers (CANDO), the First Nations Finance Authority (FNFA), and the First Nations Financial Management Board (FNFMA). The FNPA is also modelled on successful Indigenous procurement institutions in Australia, New Zealand, and the United States. Trusted. The FNPA received its mandate from the Chiefs in Assembly of the Assembly of First Nations, which sends one representative as an observer to its board. An apolitical organization, it will have a primary purpose to verify, certify, and support First Nation businesses. It will also help potential buyers navigate issues and opportunities in procuring in First Nation communities. This singular focus on the First Nation procurement environment builds clarity, confidence, and trust. Accessible: National in scope, regional in operation, the FNPA will offer outreach, training, and support to all businesses it certifies. Government and corporate members will have access to its single, trusted First Nation business registry, training, and services for a reasonable fee. The goal here is not to check boxes, but to generate real and mutually beneficial opportunities. An investment in shared prosperity The FNPA is ready to begin. Over the first five years, it will require an investment of $25 million to build up and maintain operations. In return, the FNPA offers a solution to one of Canada's most persistent gaps in economic reconciliation: the exclusion of First Nation entrepreneurs from procurement. Now is the time. With a new session of Parliament and a cabinet with a mandate to build, expand, and trade across the country, the FNPA is a tailor-made institution to ensure that First Nation entrepreneurs can finally participate fully in Canada's economic future. We welcome this government's investment in the FNPA—to unlock the contribution of First Nation business to our shared prosperity, one contract at a time.
Cision Canada
27-05-2025
- Business
- Cision Canada
Inaugural Board Announces Creation of the First Nations Procurement Authority
OTTAWA, ON, May 27, 2025 /CNW/ - A coalition of five national First Nations economic institutions has created a national not-for-profit organization to support First Nations businesses' access and success in securing government and corporate procurement opportunities. The First Nations Procurement Authority (FNPA), established on May 1, 2025, will provide targeted outreach, training, and support to verified First Nations businesses interested in pursuing these opportunities. "An institution like this is urgently needed in Canada," says Mark Dokis, Chair of the First Nation Procurement Authority. "For too long, outdated vendor lists, lacking connections, and cumbersome processes have prevented government and corporate buyers from connecting with authentic First Nations businesses. Our goal is to reverse that trend." First Nations businesses are the fastest growing group of entrepreneurs in Canada yet continue to face unique barriers to entry. "Many Indigenous businesses are blocked from opportunities that others take for granted," says Jody Anderson, a director of the FNPA. "Lack of experience with procurement processes, issues with bonding on reserves, and lingering stereotypes all limit their participation." Beyond this, fraudulent claims to Indigenous identity enable bad actors to exploit set-asides and quotas as authentic First Nation businesses navigate unfamiliar systems without dedicated supports. "We're calling for transformative change," Assembly of First Nations National Chief Cindy Woodhouse Nepinak said at the Indigenous Prosperity Forum in May. "A dedicated agency, led by First Nations, to certify and support genuine First Nation entrepreneurs." The FNPA received its mandate from the Assembly of First Nations in 2023. Its board includes one member from each of five respected Indigenous economic organizations: the National Aboriginal Capital Corporations Association (NACCA), AFOA Canada, the Council for the Advancement of Native Development Officers (CANDO), First Nations Finance Authority (FNFA), and First Nations Financial Management Board. A representative of the Assembly of First Nations will attend board meetings as an observer. Modelled after successful Indigenous procurement institutions in Australia, New Zealand, and the United States, the FNPA will be national in scope and regional in operation. First Nations businesses will have access to free registry and certification services, training, and promotion. Government and corporate members will be able to take part in training and services for a reasonable fee. The FNPA has resulted from years of thought and research. Once operational, it will promote real opportunities for First Nations businesses – and unleash their contribution to Canada's economic prosperity. Inaugural Board Alisha Carter – Secretary Jody Anderson – Director Mark Dokis – Chair Bailey Quinn – Treasurer Ray Wanuch – Director About NACCA NACCA, the National Aboriginal Capital Corporations Association, is a network of over 50 Indigenous Financial Institutions (IFIs) dedicated to stimulating economic growth for all Indigenous people in Canada. These efforts increase social and economic self-reliance and sustainability for Indigenous people and communities nationwide.
