Thank you for that question.
We're in the process right now of making sure that access to capital is something that indigenous entrepreneurs have. The organization I represent received $240 million 30 years ago and has recycled it 15 times to $3.3 billion in lending. They've never been able to take advantage of all the opportunities within their regions with adequate access to capital.
In order to deploy money, you need to ensure there's an enabling environment to ensure you have deal flow. The Government of Canada created a program called “Aboriginal Business Canada” many years ago, which provides an equity contribution to an indigenous business that reduces the risk level on that loan. That has been highly successful. They've shown that for every dollar provided, there is $1.26 to $1.40 provided back to the treasury department. These are social impacts and returns to the government. It's an actual investment to invest in the indigenous economy: providing more enablers, tax incentives for investors and also the training capacity that Ray was talking about. It's very important to make sure that everybody has the training, understanding, knowledge and know-how to start a business.
Being plugged into the procurement system needs to be improved, because they make it highly complex, and for indigenous entrepreneurs, some of the barriers they create make it highly complex to even get in the door. We just have to improve everything, and if we have that opportunity, this organization can work with the government to make sure we take down these barriers.
Thank you.