P rime Minister Justin Trudeau has committed to renewing the fiscal relationship between Indigenous peoples and the federal government, prioritizing this relationship as the most important one for his government. Ensuring Indigenous peoples play a meaningful and substantial role in the economy is critical to laying the foundation for both healthy Indigenous communities and reconciliation nationally. Recent data demonstrates that the Indigenous private economy in Canada is growing at an impressive rate. It now accounts for more than 43,000 Indigenous entrepreneurs. The Indigenous population forms the youngest and fastest growing demo- graphic in Canada, with more than 46 per cent reporting to be under the age of 25. The Indigenous popula- tion also contributes a combined market income of over $30 billion, as projected by TD Economics in 2016. Through its research over the last five years, the Canadian Council for Aboriginal Business (CCAB) has seen a 15 per cent increase in the number of profitable Indigenous businesses, as well as an increase in the overall profitability of Indigenous businesses and continued optimism about the potential for future growth. The federal government recognizes the significant potential of the Indigenous economy and, through its Procurement Strategy for Aboriginal Business (PSAB), has been stimulating growth through procurement and fostering business opportunities for Indigenous firms since 1996. In 2014, federal government procurement set-asides for Indigenous businesses reached approximately $227 million. While this demonstrates an invest- ment into Indigenous businesses across the country, the federal leadership is always looking for ways to improve and adapt strategies to ensure continued growth for Indigenous chains. In 2017, the government held a preliminary meeting to discuss poten- tial changes and improvements to the current PSAB. CCAB, along with other relevant stakeholders and corporate leaders in procurement from across Canada, were invited to participate in the assessment and provide recommendations for changes to the strategy. This first step is one of many that will be taken towards creating a more robust, inclusive strategy that will continue to adapt to support the growth and success of Indigenous businesses for years to come. The government has also been supporting CCAB’s own efforts to increase and advance Indigenous procurement across the country. Indigenous and Northern Affairs Canada (INAC) has provided support for CCAB’s ongoing research to ensure policy is reflective of the realities of the Indigenous economy today. In addition to research, INAC’s support has been crucial to the development of the Aboriginal Procurement Champions initiative, a key element of CCAB’s Aboriginal SUPPLY CHANGE procurement strategy. This important effort aims to create an unprecedented national approach to Indigenous supplier diversity in the private sector. With a comprehensive approach, we can accomplish greater and better things. PSAB BUILDING POTENTIAL THE FEDERAL GOVERNMENT AIMS TO STIMULATE INDIGENOUS BUSINESS GROWTH THROUGH ITS PSAB PROGRAM BY SAMANTHA MORTON TransAlta is proud to support Indigenous education, assisting students to successfully complete their post-secondary and trade programs - empowering youth for lifelong success. We do this by partnering with Indigenous communities to develop scholarship, mentorship, leadership and sponsorship programs through the Banff Centre, University of Calgary and SAIT. FIRST THINGS FIRST ADVANCING INDIGENOUS EDUCATION PARTNERS IN BUSINESS AND LEARNING The Aboriginal BUSINESS REPORT 29