Business Programs

The Economic Development department offers assistance to entrepreneurs with business plans (up to 25 percent of the total cost of the business plan) and helps them obtain financing from Aboriginal Business Canada, Business Development Bank of Canada and Ulnooweg Development Group. There are three categories for the assistance program.

Assistance Programs

Craft Contributions

This is a program to teach craftspeople within the cottage industry how to do remedial bookkeeping. The amount of assistance varies, but the Economic Development Officer tries to keep the assistance to approximately $250 per craftsperson. The craft person will be asked what material they purchased, what they made and how much money they have made.

Equity Contributions

This program assists band members who are interested in going into business. The band provides ten percent of the total cost up to $5,000 to a financial institution on behalf of the borrower. This will allow band members to borrow up to $50,000 from a lending institution to start up and run their businesses.

Band Small Ventures

This program provides access to business services, including business assistance (in Nova Scotia) and helps to identify requirements for specialized equipment. Band members residing in Nova Scotia with aspirations of running their own business and are seeking funds under $1,000 will be reimbursed at 50 percent of the total cost (this means the maximum can be $500 paid by the band so long as the band member has receipts).

Entrepreneurs who meet the following basic criteria may be considered for support through the Economic Development program if they:

  1. Have been unsuccessful in acquiring equipment for business from other sources.

  2. Are unemployed individuals and social assistance recipients.

The program provides band members who cannot obtain financing from traditional financial institutions access to business loans.