This is Indigenous Economic Development day in Saskatchewan. The declaration is designed to bring attention to a significant segment of the economy that is emerging as more than simply a demographic group.
Obviously, any large segment of the population has economic or commercial clout as consumers but this day is designed to look beyond purchasing power to recognize the potency contained in capital formation – or the power of owning equity and how it can transform an economy or community.
Most, if not all, First Nations in this province have developed a portfolio of businesses in recent years –whether directly in their own names or through tribal councils. These businesses generate cash flow for their owner; create jobs for their members and others in the community as well as building the overall economic base of the province.
In this process, First Nations have become a powerful force in creating and preserving head offices in Saskatchewan. When well-established mainstream businesses come for sale through succession planning, for example, First Nations are often among the bidders, keeping the companies here rather than ownership shifting to Alberta or Toronto.
