Thank you.
Good afternoon, members of committee. Thank you for the opportunity to speak with you today.
My name is Magnolia Perron. I'm the indigenous women and youth program manager at the National Aboriginal Capital Corporations Association, NACCA. It is an honour to be here today to discuss the importance of supporting indigenous women entrepreneurs and the programs that help them succeed.
NACCA is the umbrella organization for a network of over 50 indigenous financial institutions, IFIs, across Canada. Over the last 35 years, these institutions have provided more than $3.3 billion in loans to small and medium-sized enterprises in indigenous communities. These loans have supported more than 53,000 indigenous entrepreneurs, and we're proud to say that NACCA's board of directors is 100% indigenous, reflecting our commitment to uplifting and empowering indigenous communities.
In 2022, NACCA launched its indigenous women’s entrepreneur program, or IWE program, which was developed in partnership with Indigenous Services Canada. The program was designed specifically to address the unique barriers that indigenous women face when starting or growing their businesses. This includes access to capital, training and mentorship. Through this program, women have access to dedicated business support officers, regular workshops, and microloans to help them launch or expand their businesses. To date, the IWE program has supported more than 4,000 indigenous women entrepreneurs by providing advisory services and approving more than 400 loans. Many of the women we support are new to business ownership, and the training and confidence-building opportunities are absolutely essential for moving them forward with their ideas. This is not just about providing financial assistance; it's about building community, creating a support network, and ensuring that indigenous women entrepreneurs have the tools, resources and knowledge they need to thrive.
One such success story is that of Emilie McKinney, an Anishinabe entrepreneur from Swan Lake First Nation. Emilie has built a thriving business manufacturing jingle cones, which are a significant cultural item used in jingle dresses. Through her business, she now supplies over 109 stores across North America and has expanded her reach globally, exporting her products to countries like France, Sweden and South Korea. This success was made possible by the access to business support, mentorship and financing through the IWE program. Emilie's story is just one example of how this program is transforming the lives of indigenous women, helping them turn their cultural heritage into a globally recognized business.
The IWE program is a critical part of NACCA's ongoing efforts to reduce the barriers indigenous women face in the business world. However, as you can imagine, there is still much work to be done. Indigenous women remain one of the most under-represented groups in entrepreneurship and business ownership in Canada. We continue to face challenges, such as limited access to capital, training and networks. This is why investments in programs like the IWE program are so essential. Long-term support is crucial to sustaining and expanding the impact of these initiatives, not only for the women involved but for the broader economic growth of indigenous communities across Canada. Supporting indigenous women entrepreneurs is an investment in the future of our communities, in job creation and in the resilience of our cultural economies.
In closing, I want to emphasize that this work requires ongoing collaboration and investment. As we've seen with the IWE program, when indigenous women are given the right resources, they don't just succeed but lead, innovate and create opportunities for others in their communities.
Thank you for your time today and for the opportunity to speak on behalf of NACCA and the women entrepreneurs we are proud to support.
Thank you.