Banking on brighter futures – Memorial U

A research team in the Faculty of Business and Administration — led by Dr. Tom Cooper — is examining the unique challenges faced by Aboriginal entrepreneurs in accessing financing from mainstream banking institutions.

Research by Dr. Cooper, as well as Prof. Pauline Downer and recently retired Dr. Alex Faseruk, indicates financial institutions may need to adapt their approach in working with Aboriginal entrepreneurs and band-owned enterprises.

Watch Dr. Cooper talk about his research in the profile here.

Dr. Cooper, who has studied Aboriginal businesses since 2007, says the credit profiles of Aboriginal business people may be very different than those of their non-Aboriginal counterparts. He notes that people living in an Aboriginal community don’t own their homes—rather, the band retains ownership. Therefore, that rules out a common financing avenue of mortgaging a home to start or expand a business.

Read More: http://www.mun.ca/research/news.php?id=7126