by Renee Greyeyes, President & CEO
The Indigenous population in Canada is growing at a remarkable pace. According to the latest census data, the Indigenous population reached approximately 1.8 million in 2021, making up 5.0% of the total population. This growth rate of 9.4% from 2016 to 2021 significantly outpaces the 5.3% growth rate of the non-Indigenous population.
This demographic shift has profound implications for the Canadian economy. As Indigenous communities continue to grow, so too does their potential to lead and influence key sectors through entrepreneurship and business development. Indigenous business owners are driving innovation, creating jobs, and contributing to regional economic resilience.
The Strength of Indigenous Business
Indigenous businesses in Canada are not just surviving. They are thriving. Many are deeply rooted in their communities and focus on sustainability, cultural preservation, and inclusive economic development. Whether in construction, clean energy, tourism, or the tech sector, Indigenous entrepreneurs are proving that business success and cultural identity go hand in hand.
The Indigenous economy contributes billions to Canada's GDP annually, with growing Indigenous-owned businesses supported by organizations like the Indigenous Chamber of Commerce. The National Indigenous Economic Development Board (NIEDB) has called for increased investment in Indigenous economic development. According to the Indigenomics Institute, Canada's Indigenous economy could reach $100 billion annually. This projection, established in 2019, is based on Indigenous peoples representing approximately five percent of Canada's population, suggesting an equitable economic contribution would be $100 billion.
Reconciliation Through Economic Empowerment
True reconciliation involves ensuring Indigenous businesses have equitable access to contracts, partnerships, and capital. Governments and corporations have a responsibility to include Indigenous businesses in their procurement policies. Many Indigenous businesses are already providing exceptional products and services while driving positive social and environmental outcomes.
Programs that support Indigenous entrepreneurship and Indigenous-led financial institutions are essential for closing the economic gap. Indigenous economic sovereignty will benefit not just Indigenous communities but the entire Canadian economy.
Looking Ahead
With a growing and dynamic Indigenous population, Canada has a unique opportunity to foster Indigenous economic leadership. By supporting Indigenous entrepreneurs, promoting Indigenous procurement, and investing in Indigenous-led initiatives, Canada can build a more inclusive and resilient economy.
This is not just an economic opportunity. It is a chance to demonstrate a commitment to reconciliation through action. As we look to the future, Indigenous businesses will continue to shape the Canadian economy in ways that benefit all Canadians.
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