Long-term Indigenous Opportunities as the Economic Recovery from COVID-19 Continues

HALIFAX –There are many opportunities for Atlantic Indigenous businesses and communities to benefit from and contribute to the region’s long-term economic growth, as the recovery from COVID-19 continues. For these opportunities to be fully realized, there needs to be a focus on education and training, access to capital, and partnerships, according to the latest report from the Atlantic Provinces Economic Council (APEC).

Atlantic Canada’s economy is changing as an aging population contributes to labour market pressures, digitalization increases, and a greater focus is placed on sustainability.

The region’s Indigenous population is considerably younger than the non-Indigenous population and is growing much faster. By 2041, Statistics Canada projects that the Atlantic Indigenous population will reach about 207,000, up more than 50% from 2016.

“The rapid growth of this young Indigenous population provides opportunities to meet the labour force and business needs of non-Indigenous employers,” says Fred Bergman, APEC’s Senior Policy Analyst and project lead. “To realize this potential, however, there needs to be a greater focus on education and trainingas Indigenous peoples, on average, have lower levels of formal education.”

Indigenous firms have a strong commitment to sustainability and could be great allies and partners in a shift to a low-carbon economy There are also opportunities for Indigenous businesses to expand their participation in global supply chains and local procurement.

APEC estimates that Atlantic Indigenous businesses accounted for 0.4% of the $625 million awarded under the Set-Aside Program for Aboriginal Businessin 2020/2021.At least 5% of federal procurement must be sourced from Indigenous-owned businesses as part of a new Government of Canada mandate.

“Ensuring high-speed internet, improving access to capital, and nurturingpartnerships with non-Indigenous organizations can help build Indigenous capacity and contribute to regional prosperity,” says Bergman.

This report is the first in a series focused on how Indigenous businesses and communities can contribute to and benefit from long-term economic growth in the Atlantic region.

Download this report

To arrange an interview with report author, Fred Bergman, please contact:

Erica Parrill
Communications Manager, APEC
erica.parrill@apec-econ.ca
Mobile: 902-877-2159

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