Canadian Council for Aboriginal Business receives $500,000 investment from Facebook Canada to support Indigenous-owned businesses
TORONTO, Dec. 1, 2020
TORONTO, Dec. 1, 2020 /CNW/ - Canadian Council for Aboriginal Business (CCAB) announced today a $500,000 investment from Facebook Canada to establish an Indigenous Business Support Fund which will provide cash grants, access to Facebook's Digital Skills Training Certification Program and membership to CCAB to Indigenous-owned businesses.
"CCAB is thrilled to announce a collaboration with Facebook Canada and their support of Indigenous businesses in this rapidly changing economy," said Tabatha Bull, President & CEO, Canadian Council for Aboriginal Business. "Our research shows that two thirds of Indigenous businesses do not use a traditional financial institution, increasing the burden to access capital. This funding and digital training scholarships will help more Indigenous businesses get the support they need when they need it most."
The economic impact of the COVID-19 pandemic is unprecedented, and small business continues to be one of the hardest hit sectors. Based on a survey conducted by CCAB in the Spring, we know that forty-seven percent of Indigenous businesses planned to or had applied for government financial assistance in response to the pandemic. Over the last few months, CCAB has consistently heard from Indigenous business owners that they are not in a position to take on any more debt. Non-repayable investments like this one will help Indigenous businesses remain open through these difficult times.
In support of Facebook's commitment to economic empowerment for small businesses, Facebook and CCAB are working together to reach Indigenous-owned businesses that are disproportionately impacted by COVID-19. This year, we have seen businesses rapidly pivot to keep up with our increasingly digital economy. That's why, along with cash grants that will be distributed to qualifying Indigenous-owned businesses, we are also offering training to help business owners learn how they can build their brand online and covering membership fees to ensure the program can support these businesses throughout 2021.
Applications open on Thursday, December 3rd at 1:00pm ET and can be submitted online until December 12th at 5:00pm ET or until funds are disbursed. Grants will be distributed to eligible applicants on a first-come first-served basis. Learn more about eligibility requirements and how to apply here.
"We know Indigenous-owned businesses are being hit hard right now, and as resilient and innovative as they are, they need all the support they can get. We're grateful to the Canadian Council for Aboriginal Business for the opportunity to support Indigenous business owners, and we hope these grants will help as we work toward recovery." - Garrick Tiplady, Managing Director, Facebook Canada
About the Canadian Council for Aboriginal Business
CCAB is committed to the full participation of Indigenous peoples in Canada's economy. As a national, non-partisan association, its mission is to promote, strengthen and enhance a prosperous Indigenous economy through the fostering of business relationships, opportunities, and awareness. CCAB offers knowledge, resources and programs to its members to cultivate economic opportunities for Indigenous peoples and businesses across Canada. For more information visit www.ccab.com.
SOURCE Canadian Council for Aboriginal Business