Business climate warming for First Nations entrepreneurs: Merasty
Saskatchewan’s business landscape is changing, creating “huge” opportunities for indigenous entrepreneurs eager to expand, according to a top executive in one of the province’s largest First Nations-owned companies.
“You’re seeing baby boomers exiting … and what that represents is opportunity for aboriginal businesses to buy in, to get involved, to work,” said Gary Merasty, president and chief operating officer of Des Nedhe Development, the English River First Nation’s development corporation.
Merasty spoke Thursday morning at the Saskatoon Aboriginal Professionals Association’s (SAPA) Breakfast Bites series, which highlights Saskatchewan’s First Nations business leaders. He said that while “mainstream Canadian” businesses had a 100year head start, aboriginal entrepreneurship is exploding, growing much faster than non-indigenous firms.
“I think some of the early movers were really swimming against the current, just simply getting in … I think today, there’s less of a current,” Merasty said, adding that First Nations entrepreneurs have expanded from small business to significant opportunities in resources and other sectors.
In his remarks to the crowd of about 30 people, Merasty mixed humour and practical advice. He said emerging firms should consider their ventures in the context of First Nations history while at the same time building “hard” and “soft” attributes, meaning good corporate governance and strong relationships.
“What we’ve achieved in the last 40 years in business overall, I’d like to see happen in the next 10 or less,” he said. “The intensity, the speed, the frequency, the success. I think it’s a benefit not only to the indigenous community for that to happen, but for Saskatchewan and Canada.”
The Breakfast Bites series is about helping First Nations-led businesses “get to the next level,” both in terms of networking and lessons from experienced entrepreneurs, said Darlene Brander, SAPA co-lead for strategic initiatives.
“We want our leaders to know who’s out there as well, (and) this is a perfect opportunity for it.”
Merasty — a former Liberal MP, Cameco executive and Grand Chief of the Prince Albert Grand Council — “carved a path” for First Nations entrepreneurs across the province, and his experience dovetails with SAPA’s mandate to promote business innovation, said SAPA strategic initiatives co-lead Osemis Isbister-Bear.
“We’re tying to motivate not only the young, indigenous future business leader, but also we’re trying to keep the momentum going among current supporters of indigenous business,” Isbister-Bear said.