Indigenous businesses embracing innovation

Indigenous businesses are more innovative and more export-oriented than the broader Canadian small business sector, and are more likely to export beyond the United States, according to a June report released by the Canadian Council for Aboriginal Business in TD Economics.

Overall, the Indigenous business sector is feeling optimistic about its future growth, driven by the adoption of new products and processes and entry into new export markets, the report notes.

One of the biggest barriers is a shortage of talent. Government policies should help, as well as a changing demographic, the report notes. The population of Indigenous people is growing faster than the Canadian population at large, and it is also younger. Other impediments can be dealt with through education, processes, and infrastructure spending, as well as procurement policies that support Indigenous businesses.