Debunking Myths Surrounding Canada’s Aboriginal Population
TD Economics continues its practice of carrying out Aboriginal-related economic research, raising awareness about Aboriginal peoples, businesses and communities. This TD Economic report represents their third in the series of articles on Aboriginal social and economic issues.
In this report TD Economics debunks ten myths surrounding Canada’s Aboriginal population. The myths were chosen on the basis of misconceptions they came across while conducting research on their previous reports. TD Economics also sought insight from the Canadian Council for Aboriginal Business (CCAB) which have community and business reach.
Estimating the Size of the Aboriginal Market in Canada
TD Economics in conjunction with the Canadian Council for Aboriginal Business estimate that the combined income of Aboriginal households, business and government sectors could be $32 billion by 2016, up from $24 billion this year. If this is achieved, the income will exceed the combined level of nominal GDP in Newfoundland and Labrador, and Prince Edward Island.
This significant growth is in part due to Aboriginal economic development corporations (EDCs), the economic and business development arms of Aboriginal governments. A decade ago, the business share of the total Aboriginal market was 35 per cent and small businesses accounted for the dominant share. Today, the number of EDCs has increased and so too have annual earnings. Combined, businesses now contribute about 37 per cent to aggregate annual income.
Community and Commerce: A Survey of Aboriginal Economic Development Corporations
The Canadian Council for Aboriginal Business (CCAB) has conducted the first comprehensive national survey of CEOs of Aboriginal economic development corporations (EDCs).
EDCs are the economic and business development arm of a First Nations, Métis or Inuit government. They are vital to the Aboriginal business community because they invest in, own, and/or manage subsidiary businesses that benefit the Aboriginal communities they represent.
This report provides insights into EDCs’ successes, challenges and strategies. The research also examines EDCs’ relationships with other organizations (including government and private sector), and their role in the community.
Our newest research is the first comprehensive study of Aboriginal businesses in a decade.
CCAB and Environics Research Group recently surveyed more than 1,000 Aboriginal business owners and entrepreneurs in order to capture significant findings on the characteristics, behaviours and unique experiences of Aboriginal businesses.
Aboriginal self-employment is on the rise. According to the 2006 Census, there are more then 37,000 First Nation, Métis and Inuit persons in Canada who have their own businesses, a significant increase of 85 percent since 1996. Successful Aboriginal businesses create employment, economic prosperity, and social well being in communities across Canada.