Access to capital can power the Indigenous economy, new report says

(TORONTO – June 19, 2025) – Indigenous entrepreneurs need better access to financial capital to expand their businesses, make essential investments and support community development, according to a new report from the Ontario Chamber of Commerce (OCC) and the Canadian Council for Indigenous Business (CCIB).

The OCC and CCIB are collaborating on A Way Forward: Ontario’s Path Towards Economic Reconciliation, Equity, and Inclusive Growth, a landmark report series designed to provide Ontario businesses with practical tools to advance reconciliation. Their latest report focuses on finance and capital, critical levers for self-determination and long-term economic prosperity.

The Indigenous economy in Canada has doubled over the last decade, surging from $24 billion in 2011 to nearly $50 billion in 2020. Yet access to financial capital remains a significant barrier for Indigenous entrepreneurs, who face higher hurdles to financing, often due to the constraints of the Indian Act, unrealistic lending policies, and a lack of culturally appropriate services.

“Economic reconciliation is not only a moral imperative but also an economic opportunity,” said Daniel Tisch, President and CEO of the Ontario Chamber of Commerce. “In our latest report, the OCC and CCIB offer tangible recommendations to help financial institutions and businesses invest more effectively in the Indigenous economy, enabling Indigenous entrepreneurs, businesses and communities to build long-term wealth – which benefits everyone.”

A Way Forward: Finance and Capital outlines how financial institutions, resource companies, and governments can support Indigenous economic development by addressing systemic barriers and strengthening inclusive financial ecosystems. The report also explores how recent developments, such as the $10 billion Robinson-Huron Treaty settlement, represent opportunities to invest in Indigenous trusts, economic development, and governance capacity.

Key recommendations for Canada’s financial sector include:

1. Creating trust and relationships by investing in cultural training, hiring Indigenous talent, including in leadership roles, and building dedicated Indigenous Banking teams to better serve unique client needs.
2. Establishing targeted Indigenous financing programs in consultation with Indigenous communities that enable institutions to broaden their traditional risk and lending criteria, set aside dedicated capital, and recognize the unique needs of Indigenous business owners resulting from a historical exclusion from the levers of wealth creation.
3. Providing financial literacy resources, training and mentorship to support capacity-building within Indigenous businesses and communities, including tools to navigate financial models that were not created to serve or benefit Indigenous people and knowledge systems.
4. Expanding Indigenous Loan Guarantee programs, enabling financial institutions to adopt more realistic risk criteria and mitigate barriers rooted in outdated legislation such as the Indian Act.
5. Partnering with Indigenous financial institutions to leverage culturally grounded expertise and reach underserved communities, particularly rural, remote and on-reserve areas.
6. Supporting long-term self-determination through mechanisms such as Indigenous trusts, equity investments, and revenue-generating governance models that restore independent decision-making.

“Access to capital continues to be one of the most critical barriers Indigenous businesses face today,” said Tabatha Bull, President & CEO of the Canadian Council for Indigenous Business. “This report challenges institutions to go beyond incremental change and commit to long-term, culturally informed solutions to build a financial system that recognizes the unique needs of Indigenous entrepreneurs and strengthens Indigenous communities.”

The Way Forward series builds on the Sharing Prosperity resource and aligns with the pillars of the National Indigenous Economic Strategy and the Truth and Reconciliation Commission’s Call to Action #92. Future chapters will focus on procurement, lands and resources, and infrastructure and communities.

OCC and CCIB extend their gratitude to their Indigenous Advisory Committee, the CCIB Research team, and the series’ lead partners: Hydro One, BMO, Bruce Power, CN, and Meridian. They also thank presenting partner Canadian Association of Petroleum Producers (CAPP) and supporting partners BDC and Ontario Power Generation.

To read A Way Forward: Finance and Capital, visit here.

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About the Ontario Chamber of Commerce
The Ontario Chamber of Commerce (OCC) is the indispensable partner of business and Canada’s largest, most influential provincial chamber. It is an independent, non-profit advocacy and member services organization representing a diverse network of 60,000 members. The OCC convenes, mobilizes, and empowers business and local chambers in pursuit of its purpose: to bring inclusive and sustainable prosperity to Ontario’s businesses, workers, and communities.

For more information, please contact:

Andrea Carmona
Senior Manager of Public Affairs
Ontario Chamber of Commerce
andreacarmona@occ.ca | Mobile: (647) 234-0255