"The focus of this discussion is the joint venture that can allow First Nations to enter the resource development and service industries. It can provide incomes, as ell as revenue that can be used to support social spending. Potential benefits of joint ventures include access to the capital, technology, expertise, market access and other benefits offered by a corporate partner."
International Journal of Entrepreneurship and Small Business (IJESB)
Year of publication:
"Throughout the middle decades of the 20th Century Indigenous people were the target of efforts to assist in economic development. In large part these externally developed, modernisation based efforts failed. In response, a second wave of Indigenous development has emerged; one in which Indigenous peoples are striving to rebuild their ‘nations’ and improve their lot through economic development ‘on their own terms’. Key to this approach is the pursuit by Indigenous people of the recognition of their rights to their traditional lands and resources.
"A new approach to economic development is emerging among the First Nations in Canada. This approach emphasizes the creation of profitable businesses competing in the global economy. These businesses are expected to help First Nations achieve their broader objectives that include: (i) greater control of activities on their traditional lands, (ii) self-determination, and (iii) an end to dependency through economic self-sufficiency.
"This study examines the historical development of corporate governance structures in First Nations communities in British Columbia, where development corporations are employed to assist privately-owned and community-owned entrepreneurial enterprises. First Nations entrepreneurial activity functions in an environment where business must market to a global economy while preserving traditional values, beliefs and other cultural elements. A brief history of First Nations and their enterprise development efforts is presented.
A business corporation is an entity that has, subject to the conditions stipulated by law, a juridical personality and possesses specific rights and obligations. The liability of the shareholders is limited to their investment.
Now that you have decided to start your own business, you will have to determine what business structure or form of organization suits your needs. The structure of your business will depend on whether you want to run your business yourself or with a partner or associates. There are four types of business structures: sole proprietorships, partnerships, corporations and cooperatives.
The Central Labrador community of North West River has been used as a congregational meeting place by nomadic fur traders for the past 3000 years(documented). The village was established as a community in 1743 by Louis Fornel when the fur trade between the Innu, Métis, Inuit and European explorers became a commercial entity. History has seen French Revillion and Freres and the Hudson's Bay Company establish North West River as an isolated center of commerce. This commerce also brought with it the International Grenfell Association’s center of health care and educational services.
Sivunivut was successful in obtaining funding to complete an Economic Leakage Study. The goal is to complete an economic leakage study that will help reverse the current trend of outflow of spending from North West River into the neighbouring central Labrador community of Happy Valley – Goose Bay. This study will identify specific business opportunities for North West River that would bring new businesses, jobs and wealth back into the community.