According to the 2010 U.S. Census, the American Indian and Alaska Native populations increased by 39% between 2000 and 2010. Although rapid population growth is encouraging, worrisome gaps in unemployment and poverty rates persist. According to statistics given by the U.S. Department of Interior’s Indian Affairs Bureau, American Indian and Alaska Native people had a 4.9% higher unemployment rate and a 12% higher poverty rate than the national average.
In addition to these economic issues, Native American communities confront significant difficulties in establishing and operating small companies. Although recent studies indicate an increase in Native American-owned small enterprises, they are not generating greater earnings or more jobs for their communities, and they are not using business aid tools. Despite the fact that many Native American company owners utilize external business aid programs, over 40% do not, and the great majority do not use tribe, municipal, or non-SBA business help programs. These initiatives are intended to assist Native American small business entrepreneurs in effectively starting and growing their firms, hence increasing the prosperity of their communities. We’ve developed a list of these resources below to showcase their excellent work and encourage others to utilize them.
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Native American Business Owner Resources
The NCAIED (National Center for American Indian Enterprise Development) – No company can flourish without suppliers, vendors, and other business ties. NCAIED has been a resource for Native American enterprises for over four decades. Its major purpose is to build companies, work with them to staff them with other Native Americans, and give additional resources that the businesses may need to continue to grow and survive.
The SBA’s Native American-Owned Business Handbook — The Small Business Administration (SBA) assists and trains Native American small business entrepreneurs who often confront unique hurdles. Workshops, webinars, training for government contracts, and networking and cooperation possibilities with non-Native American enterprises are all examples of assistance. Taxes, human resources, marketing, financial management, and government contracts are among the training subjects. With offices around the United States, this is an excellent place to start whether you are thinking of establishing a company or expanding your current one.
AIBA (American Indian Business Associations) – The University of New Mexico has produced an excellent reference list for Native American company owners and entrepreneurs. This resource makes it simple to find possibilities for mentorship, business development seminars, and training, and it even includes numerous recommendations for drafting a great business plan.
First Nations Resources for Seekers — This website offers training webinars, grant possibilities, and advice on how to effectively apply for grants for your company. The First Nations Development Institute also offers funding possibilities. It has a Charity Navigator score of 97.13 out of 100 and is a BBB Accredited organization. First Nations resources include not just commercial resources, but also materials to assist you create stronger community ties. This is a must-visit website for all Native American business owners.
NCAI (National Congress of American Indians) — Since 1944, Alaska Natives and American Indians have considered NCAI to be an important element of their communities’ activities. NCAI serves as a crucial source of advocacy and leadership for Native American communities at the local and national levels, focusing on business and economic development concerns as well as the legal rights of company owners and people.
Extra Beneficial Resources
Help with COVID-19 — Native American company owners, like all other businesses in the United States, have been hit by the COVID-19 epidemic. The National Center for American Indian Enterprise Development (NCAIED) has created a guide for personal safety equipment (PPE), as well as information on where and how to properly get PPE in order to restart your firm. Implementing OSHA’s reopening requirements is critical to ensuring that your firm can open safely and stay open.
Government Contracts – Native American company owners are often unsure of the procedures that must be followed in order to win bigger contracts, especially government contracts. The United States Department of Defense has developed a set of rules and instructions for Native American company owners to follow in order to participate in the federal procurement process.
Legal Resources for Company Owners for No or Little Cost — Contracts and agreements for business may be pricey if you have to employ an attorney to draft them for you. Instead of employing a lawyer to draft papers,
Small and medium-sized firms are critical to overall economic development in the United States. Small firms account for more than 90% of all new company formations and more than 50% of all employment creation in the United States. Native American enterprises benefit their communities and assist to alleviate poverty. We all have a vested interest in seeing them succeed in the future.