b'LEADERSHIP PROFILEjob and completed a feasibility study, a business plan, and then, ultimately, the funding proposal to start up an entity [thatUnder Madahbee Leachs leadership, would become] the Waubetek BusinessWaubetek has invested in companies Development Corporation, she says.that have gone on to become active WhentheWaubetekBusiness Development Corporation (Waubetek)players in the Canadian economy, was formed, Madahbee Leach was asked to stay on in the role of general managerparticularly in the tourism, professional for the first year to help get things up and running. That one year turned into 35.services, technology and natural resource sectors. Watching these companies grow LEARNING CURVEIt was not an easy stretch at the beginning,and build on their success has been and there was a learning curve on all ends. The purpose of the organization was toextremely gratifying to herlend money, and I had never worked in a bank, recalls Madahbee Leach. Even our board of directors, comprised of respected community members, had never been involved in lending before. But we had ourimportant that they base their business onBoard,sitsonfederalandprovin-business plan and some good processes intheir natural gift, skills or talents.cial advisory committees on procure-place, which I emulated from the Northernment, trade and housing, and is actively Ontario Development Corporation where IMadahbee Leach has consistently deliv- involved in Indigenous relations at both was a board member at the time. I lookedered on her aim to help Indigenous peoplethe federal and international level. She at some of the processes they had, and Iachieve their dream of business owner- is also a board member at Peace Hills thought, OK, we can do this. Well just useship. More importantly, running WaubetekTrust, another Indigenous financial institu-common sense making financial decisionshas positioned her as key figure in thetion, and NioBay Metals, a small mining and loan decisions based on the premisedevelopment of Indigenous businessexploration company.that we would do everything we could toin Ontario. Today, her input and insight help set our clients up for success. are often sought out in initiatives andFUTURE WORKFORCEdiscussions surrounding Indigenous busi- Sharing her extensive knowledge on Their system worked. So much so, thateconomic development with Indigenous Waubeteks clients have a 92-per-centness developmentboth in the provincepeopleespecially young peopleis success rate in staying in business for moreand nationally.something Madahbee Leach considers her than five yearshigher than the Canadiangreatest achievement. Through her work, average for new companies. The corpo- Madahbee Leach chairs the Nationalshe has helped build Indigenous capacity ration has assisted with the developmentIndigenous Economic Developmentin business and economic development. of more than 3,500 Indigenous business projects, investing more than $120 million in start-ups, expansions and acquisitions. Early on, in 1992, it expanded to serveSFI SMALL-SCALEall of northeastern Ontario, and todayFOREST MANAGEMENT it also delivers an aquaculture program throughout central Canada, from Ontario to Alberta.Part of Waubeteks success lies in itsMODULEcommunity connection and its a connec-tion that Madahbee Leach is very cognizantFOR INDIGENOUS PEOPLES, of. Waubetek had to build communityFAMILIES AND COMMUNITIEStrust to do this kind of work, because when somebody comes in, they have to share a dream and personal financial informa-tion. Its quite intimidating for them, she explains. We work towards earning theirThis SFI module is an option for certifying small-scale forestlands trust and treating them with respect as weowned or managed by Indigenous communities.know it takes courage to start a business. We encourage them to get experienceLEARN MORE:forests.org/indigenousand the relevant credentials in the industry or sector of interest, [and explain that its] Aboriginal BUSINESS REPORT77'