b'FINANCEbusinesses in the supply chain andLinda Hartford at CIBC also high- In terms of federal emergency support acquisition of greater equity stakes.lightstheneedforeducation.programs currently on offer, Metatawabin We can come out of COVID well-posi- Weve created a number of onlinesays they are not the recovery assistance tioned to thrive. programs about things like how tothat businesses will need over the next write a business plan, she says.months, or even years. Loans are not a Davey points to exciting new entre- Weve also had to recognize oper- solution and programming for Indigenous preneurial initiatives coming out ofational difficultiesfor instance,businesses needs to stop being an after-Indigenous communitiesCOVIDcompanies that have not yet donethought, he says. Back in May, more than notwithstandinglike the $1-billionaudits. This is an unprecedented40 per cent of Indigenous businesses said agreement finalized last January thatsituation. Weve been asking ourthey cant afford loans. [Its] difficult for any saw the acquisition of equal sharesclients how we can support thembusiness to look for a future with any posi-of Clearwater Seafoods Inc. by atogetthroughwhatevertheirtivity with the mountain of debt they have Mikmaq First Nations partnershiphurdle is. to look at recovering from. (made up of Membertou, Miawpukek, Sipeknekatik, Wekoqmaq, Potlotek, Pictou Landing and Paqtnkek commu-nities) and Vancouver-based Premium Brands Holdings Corporation. As a result of this strong emerging pool of talent and push for business devel-opment within the Indigenous channel, Davey stresses that Indigenous commu-nities need to remain on the radar of aid disbursement. When were looking at the different aid and relief programs around COVID, Indigenous communities and businesses should be top-of-mind, he says.POINTING THE WAYCanadas financial institutionsboth mainstream and Indigenous-runcan play a key role in reducing damage and supporting new business growth as Indigenous businesses emerge from the COVID storm. Indigenous financial institutions have experienced their own hits yet are still rallying to help Indigenous business however they can. Aboriginal financial insti-tutions have experienced a 70-per-cent decline in support, but have still provided support for entrepreneurs, emphasizes Metatawabin.Support can take many forms, and Metatawabin stresses the need for a comprehensive approach that includes education and instruction. Capital is one thing, but business support servicesmaking sure [Indigenous entrepreneurs] have good mentor-ship and toolsis also very important, he says, noting that there is currently no central clearing house for an Indigenous entrepreneur to get infor-mation. The creation of an Indigenous learning hub, an ecosystem so entre-preneurs can go through their learning journey could provide the support and tools needed. Aboriginal BUSINESS REPORT13'