Listening to and learning from Indigenous staff
Posted: Tue Dec 10, 2024 7:21 am
As a Cree woman and third-generation residential school survivor, I know what it’s like to be marginalized and feel like you have to fight an uphill battle to succeed. And as a privileged BDC employee, I know what it’s like to be valued, heard, and recognized for the unique perspective I bring to a business. These distinct identities allow me to meaningfully serve Indigenous business owners.
June marks National Indigenous History Month and National Indigenous Peoples Day on June 21. As we recognize and celebrate the culture and contributions of Canada’s First Nations, Inuit and Métis peoples, I reflect on how BDC supports its Indigenous employees and the Indigenous business owners it serves.
Staff training to better serve Indigenous business owners
At BDC, we have made some changes to move things forward, with the participation of Indigenous staff members like myself. To better understand the institutional and societal barriers that Indigenous business owners face, we are changing our approaches and training for all staff to better serve them and improve our relationships with each other.
Diversity, equity and inclusion training, including unconscious bias and anti-racism, is now mandatory for all BDC staff. This has led our team members to re-evaluate how they communicate and interact with others.
We have also implemented mandatory training on Indigenous history, identity and reconciliation in Canada, which covers the 94 Calls to Action of the Truth and Reconciliation Commission of Canada. This training provides fundamental concepts of truth and reconciliation as well as tips for putting them into practice in everyday life.
I am proud of the work BDC has accomplished so far, but I car owner database know we are not going to stop there.
Understanding the Challenges of Indigenous Business Owners
Compared to their peers, Indigenous business owners face additional challenges. For example, they often have more difficulty accessing affordable capital to finance their projects.
According to a 2016 study by the Canadian Council for Aboriginal Business (CCAB) , 55% of Aboriginal business owners used their personal savings to start their business, and 51% reported difficulty finding outside sources of financing. And when they do find a lender, 45% reported difficulty meeting the loan requirements. Despite these challenges, the number of Aboriginal business owners is growing five times faster than the number of self-employed workers in Canada .
Today, BDC has close to 300 Client Diversity Ambassadors. These are staff members who have been trained to support our diverse clientele and help them overcome the barriers they typically face. These staff take the time needed to help Indigenous business owners obtain the financing they need to grow their businesses.
There is no one-size-fits-all solution. We are increasingly learning to look beyond spreadsheets to assess Indigenous business owners and equip them to build businesses and develop the leadership skills needed to help them thrive. When I talk to Indigenous business owners, I often feel like I am talking to family. And because Indigenous culture is built on storytelling, I like to start our interactions by asking them to tell me their stories.
This formula is well received. Business owners often tell us that I really understand their point of view.
Collaboration with partners
Listening is an important part of our approach. Feedback from our staff, the Indigenous business owners we work with, and organizations like CCEA , Indigenous Works, Pow Wow Pitch , Our Children's Medicine and Bears' Lair guides our work. Together, we aim to provide even greater support to Canada's Indigenous business community, including sessions that focus on improving financial literacy. We also meet regularly with Indigenous leads from our sister Crown corporations (including EDC and FCC ) to share knowledge and best practices.
We understand the importance of giving back to the community, which is why our Aboriginal Entrepreneur Loan donates a portion of the interest paid to charities chosen by business owners, and we contribute to the $ 150 million Aboriginal Growth Fund , managed by the National Aboriginal Capital Corporations Association (NACCA).
This June, and throughout the year, I am proud to be part of a company that has a long history of working with Indigenous entrepreneurs and recognizing their unique histories, cultures and contributions to Canada.
We are working hard to increase the number of Indigenous employees at the Bank and to ensure that our workforce has a diversity and inclusion mindset. We must continue to move forward to ensure that all entrepreneurs have the support they need to grow their businesses.
June marks National Indigenous History Month and National Indigenous Peoples Day on June 21. As we recognize and celebrate the culture and contributions of Canada’s First Nations, Inuit and Métis peoples, I reflect on how BDC supports its Indigenous employees and the Indigenous business owners it serves.
Staff training to better serve Indigenous business owners
At BDC, we have made some changes to move things forward, with the participation of Indigenous staff members like myself. To better understand the institutional and societal barriers that Indigenous business owners face, we are changing our approaches and training for all staff to better serve them and improve our relationships with each other.
Diversity, equity and inclusion training, including unconscious bias and anti-racism, is now mandatory for all BDC staff. This has led our team members to re-evaluate how they communicate and interact with others.
We have also implemented mandatory training on Indigenous history, identity and reconciliation in Canada, which covers the 94 Calls to Action of the Truth and Reconciliation Commission of Canada. This training provides fundamental concepts of truth and reconciliation as well as tips for putting them into practice in everyday life.
I am proud of the work BDC has accomplished so far, but I car owner database know we are not going to stop there.
Understanding the Challenges of Indigenous Business Owners
Compared to their peers, Indigenous business owners face additional challenges. For example, they often have more difficulty accessing affordable capital to finance their projects.
According to a 2016 study by the Canadian Council for Aboriginal Business (CCAB) , 55% of Aboriginal business owners used their personal savings to start their business, and 51% reported difficulty finding outside sources of financing. And when they do find a lender, 45% reported difficulty meeting the loan requirements. Despite these challenges, the number of Aboriginal business owners is growing five times faster than the number of self-employed workers in Canada .
Today, BDC has close to 300 Client Diversity Ambassadors. These are staff members who have been trained to support our diverse clientele and help them overcome the barriers they typically face. These staff take the time needed to help Indigenous business owners obtain the financing they need to grow their businesses.
There is no one-size-fits-all solution. We are increasingly learning to look beyond spreadsheets to assess Indigenous business owners and equip them to build businesses and develop the leadership skills needed to help them thrive. When I talk to Indigenous business owners, I often feel like I am talking to family. And because Indigenous culture is built on storytelling, I like to start our interactions by asking them to tell me their stories.
This formula is well received. Business owners often tell us that I really understand their point of view.
Collaboration with partners
Listening is an important part of our approach. Feedback from our staff, the Indigenous business owners we work with, and organizations like CCEA , Indigenous Works, Pow Wow Pitch , Our Children's Medicine and Bears' Lair guides our work. Together, we aim to provide even greater support to Canada's Indigenous business community, including sessions that focus on improving financial literacy. We also meet regularly with Indigenous leads from our sister Crown corporations (including EDC and FCC ) to share knowledge and best practices.
We understand the importance of giving back to the community, which is why our Aboriginal Entrepreneur Loan donates a portion of the interest paid to charities chosen by business owners, and we contribute to the $ 150 million Aboriginal Growth Fund , managed by the National Aboriginal Capital Corporations Association (NACCA).
This June, and throughout the year, I am proud to be part of a company that has a long history of working with Indigenous entrepreneurs and recognizing their unique histories, cultures and contributions to Canada.
We are working hard to increase the number of Indigenous employees at the Bank and to ensure that our workforce has a diversity and inclusion mindset. We must continue to move forward to ensure that all entrepreneurs have the support they need to grow their businesses.