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Nisga’a fund builds business opportunities WHEN SEVERAL thousand aboriginal elders poured into Terrace in 2009 for the 33rd annual BC Elders Conference it may not have looked like a job creation project. But the revenue the conference, hosted by the Nass Valley village of Gitlaxt’aamiks (New Aiyansh), generated through food sales, craft sales and the staging of the conference at the arena meant an investment by a Nisga’a Nation-owned business development fund was worthwhile. “We put in $200,000. There were definite benefits,” says Bert Mercer, the general manager of the Nisga’a Business Development Fund. “It was just like a small business and that’s how we approached it,” he added. “There was employment created in a number of areas – food, crafts. In this case the benefits were spread out beyond the Nass Valley.” The development fund grew out of earlier programs and took on a formal identity in 2008 through legislation passed by the Nisga’a Lisims Government. “We’ve supported 23 projects since 2009 and that’s come to $1.2 million in investment and 95 jobs,” said Mercer. Just recently it provided $20,000 to help with the purchase of
COAST MOUNTAINS
Perry Azak’s taxi and transportation Tilthski Transport business in the Nass Valley by Steve Johnson who already conducts tours in the valley. With an annual budget of $400,000, the business fund considers a wide variety of applications either sent to it directly or through the economic development offices of the four Nisga’a villages in the Nass Valley and its three urban locals in Terrace, Prince Rupert and Vancouver. “We don’t loan money,” explains Mercer. “We make a contribution, a grant. And then we follow the business for two years. The major goal is economic development for Nisga’a citizens in the Nass Valley and elsewhere.” “What we provide is start up funding and that can also bridge the gap so the business can leverage other financing.” The amount of equity in either cash or assets required by a business or a person with an idea for a business can be as low as 5 per cent if the person is under the age of 35. That’s to encourage younger entrepreneurs, said Mercer. For older Nisga’a citizens, the equity percentage increases to 10 per cent and for corporations in which Nisga’a citizens hold a control-
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ling interest, the equity percentage required is 20 per cent. It’s also 20 per cent for Nisga’a societies, Nisga’a village governments and Nisga’a urban locals. The development fund is open for use by any and all Nisga’a and isn’t restricted by geography. The fund’s client list includes Vancouverbased clothing retailer Wolf Pack Apparel which sells online and which sets up booths at trade shows and cultural and sporting events such as the annual All-Native Basketball Tournament in Prince Rupert. In Victoria on Vancouver Island, the fund provided monies for the baby and children’s clothing store called Rainy Day Play. And in Maple Ridge, the fund helped finance Lost Your Marbles daycare owned and managed by Alison McKayMolander. She’s been running the daycare for six years and decided on the venture as a way of running a business while also taking care of her two children who were very young when she started. “I’m full all the time,” said McKay-Molander about Lost Your Marbles, which has eight spaces. Fully licensed, McKay is also a trained early childhood educator, a
BUSINESS NEWS
CONTRIBUTED PHOTO
ALISON MCKAY-MOLANDER with one of her young clients at her Maple Ridge daycare called Lost Your Marbles. A portion of its financing came from a Nisga’a business development fund. fairly rare commodity with the Maple Ridge area daycare community. Originally from Prince Rupert, McKay heard of the Nisga’a Business Development Fund while looking for financing. “They were very accommodating, amazing,” she said of the advice and help she received while putting together her business plan. Also in the Lower Mainland, the fund invested in a hair salon in Coquitlam called Sages Hair Design. In the Nass Valley the U Seafood, U Eat It restaurant in Gingolx and Doolan’s Trucking, also in Gingolx, have received financial help from the fund. In the works, said Mercer, is a restaurant
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which spans the Nass River in the heart of Gitwinksihlkw. “We’re also anticipating more activity in
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