In part two of this series, we take a look at even more funding and business development opportunities available to the Indigenous Communities throughout Canada. These next programs are not specifically geared towards those interested in opening a Cannabis related business but cover a wider berth of investment opportunities. Here are some questions to see if you qualify:
- Are you running or looking to start a business?
- Are you of Indigenous descent?
- Do you require funding to get operations off the ground?
- What about tax deferrals?
Here are some programs available to help you start and grow your business.
Business Investment Services for Indigenous Peoples
The Canadian government provides a wide range of resources to support Indigenous entrepreneurs in various industries beyond cannabis. These include:
Indigenous Growth Fund (IGF):
This fund, managed by the National Aboriginal Capital Corporations Association (NACCA), provides loans to Indigenous entrepreneurs. The IGF supports diverse industries, including retail, technology, agriculture, and tourism. This is where businesses turn to grow and gain capital to enhance all aspects of entrepreneurship in Indigenous communities.
Community Opportunity Readiness Program (CORP):
CORP provides funding to Indigenous communities to pursue economic development opportunities, including business planning, capacity building, and infrastructure development. This can include things like assistance with the construction of an office building, the improvement of the internet in a business district, and more. For cannabis businesses, this can mean a full suite of operational planning that can streamline their current businesses or guide them toward a new endeavor.
Indigenous Business Initiative (IBI):
This initiative supports small and medium-sized Indigenous businesses by offering financial assistance, advisory services, and mentorship programs. This program is great for established small and medium-sized businesses that need additional support to sustain their current enterprise. It can be helpful if you’re still growing and offers great value for the amount of time needed to invest.
Partnerships with Crown Corporations:
Entities like Export Development Canada (EDC) and the Business Development Bank of Canada (BDC) offer specialized support to Indigenous businesses, including export advice, business loans, and growth financing.
Skills and Training Programs:
Programs such as the Indigenous Skills and Employment Training (ISET) Program equip Indigenous entrepreneurs with the knowledge and tools needed to run successful businesses. These programs offer courses, training, and guidance when building a business or receiving valuable business training.
How to Access these Programs
As you can see, many investment opportunities are available to Indigenous individuals and organizations considering opening a Cannabis dispensary, cultivator, or processor business. The best place to start is on the Canadian government website (see link below).
Here is some information on the programs: https://www.canada.ca/en/indigenous-services-canada/news/2022/12/bc-indigenous-cannabis-business-fund-launched-creating-new-opportunities-for-first-nations-in-the-cannabis-industry.html
Where Brother Processing Solutions Comes In
Proudly working with a large number of Indigenous cannabis businesses and dispensaries has given us insight into the specific needs of the community when it comes to opening a marijuana business. We work with over 30 Indigenous dispensaries and cultivators across all Canadian provinces. We’ve even created a commercial on our relationship with Indigenous communities throughout Canada. You can view it here: