Canada – Government of Canada renews the Indigenous Community Business Fund through Budget 2021
Today, the Honourable Marc Miller, Minister of Indigenous Services, announced $117 million to renew the Indigenous Community Business Fund (ICBF). The ICBF provides non-repayable financial contributions to Indigenous microbusinesses and community- or collectively owned businesses across the country that do not qualify for other existing business supports.
June 16, 2021—Ottawa, Traditional unceded Algonquin Territory, Ontario—Indigenous Services Canada
The Government of Canada remains committed to supporting all Indigenous businesses through the COVID-19 pandemic and into recovery.
Today, the Honourable Marc Miller, Minister of Indigenous Services, announced $117 million to renew the Indigenous Community Business Fund (ICBF). The ICBF provides non-repayable financial contributions to Indigenous microbusinesses and community- or collectively owned businesses across the country that do not qualify for other existing business supports. The ICBF supports the operation, adaptation, planning and reopening of First Nations, Inuit and Métis businesses. By relieving financial pressure, the ICBF helps communities keep members employed and businesses open.
Last year, a total of 559 First Nation and Inuit communities located in the provinces received funding to address the economic impacts of the pandemic, and 170 proposals from community businesses have been funded. Through the ICBF, 999 collectively owned businesses selected by the governing members of the four Métis Capital Corporations (Métis Financial Corporation of BC, Apeetogosan, SaskMétis Economic Development Corporation and Métis Voyageur Development Fund) and the Manitoba Métis Federation received funding.
In addition to the renewal of the ICBF, Budget 2021 proposes funding to support the First Nations Finance Authority’s pooled borrowing regime, investments and measures to expand the Aboriginal Entrepreneurship Program, funding to help the Indigenous tourism industry rebuild and recover from the impacts of COVID-19, an extension of the Indigenous Business Initiative, and measures to ensure that Indigenous women are empowered in the economic recovery.
“The renewal of the Indigenous Community Businesses Fund is a key measure to ensure that Indigenous community-owned or collectively owned businesses can access the support needed to fully participate in our economic recovery. This in turn supports the well-being and quality of life of all Indigenous and non-Indigenous people in Canada.”
The Honourable Marc Miller
Minister of Indigenous Services
Adrienne Vaupshas
Press Secretary
Office of the Honourable Marc Miller
Minister of Indigenous Services
adrienne.vaupshas@canada.ca
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