A report showing that in 2020, the GDP created by My country The people in the country were $48.9 billion released by Statistics Canada and Indigenous Services Canada.
This represents an increase of $7 billion since 2012.
“It’s a real change in business,” said Ron Hygan, CEO of Kitsky Management. “I think people are really recognizing the importance of indigenous and inclusive ownership overall.”
Kitskie is finding success in the Canadian business industry.
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KitSky, an Indigenous-based Saskatoon company operating since 1981, has invested in Canadian tech company Plato, the only majority-owned Indigenous software technology and services provider in the country.
“A lot of First Nations groups like us, Indigenous groups like us, we’ve been regionally focused for a long time. So, it is now a step towards the national focus, the national picture where we wanted to move for the last 41 years,” Heijn said.
The report also showed that 6.5 percent of majority indigenously owned businesses plan to expand in the next year.
Despite the challenges of the past year with inflation and labor shortages, many in the private business sector reported that they have an optimistic outlook for the next 12 months.
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Saskatoon Indigenous artist Terry Lovely of Northern Lights Beadwork & Clothing is looking to expand her business in 2023.
She says she started beading 13 years ago to support her family.
“After I had my third child, who is disabled, I was no longer able to work,” Lovely said. “I needed to supplement my income because we weren’t making it.”
Her specialty is the modernization of traditional indigenous jewelry.
“If I didn’t do that, I don’t think I would be doing as well as I’m doing,” she said. “I’m not loaded or anything,” she laughed, “but I can pay my bills and get my car fixed and things like that.”
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She said that someday she would like to have her own storefront.
“I have a little support network,” explained Lovely, adding that she has many indigenous friends who are just starting their small business entrepreneurial journey.
“It’s great to go to vendor events and have like-minded people out there. I’m not alone,” she said.
The full report can be viewed on Indigenous-owned businesses in Canada: challenges facing, growth forecast – Statistics Canada (statcan.gc.ca),
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