illustrations by ISTOCK
Thriving businesses do not exist in a vacuum. In fact, these economic engines are important to the well-being of multiple constituents: owners, investors, employees, their families, and the wider communities a business calls home. As we saw during the pandemic, when businesses wither, the community feels the consequences.
Native American entrepreneurship took a serious hit during and immediately after the pandemic, with a casualty rate of around 40 percent among small businesses. Now that the disproportionate devastation of the pandemic has receded, we have a better perspective on where we are and where we can go from here.
The federal government keeps tabs on economic indicators and provides resources for small businesses through agencies like the Small Business Administration and the Bureau of Indian Affairs as well as financing resources like the USDA Seed Fund. In addition, the Biden-Harris administration is taking steps to boost a robust recovery in Indian Country through the programs like these.
State Small Business Credit Initiative (SSBCI). Funded by the American Rescue Plan, this program awards money to tribal governments to facilitate investment in both tribal-owned enterprises and small businesses. The current iteration of this program represents a sixfold increase over its original 2010 allocation, and over the next decade it is expected to benefit 100,000 small businesses in Indian Country and beyond. In a first, more than $500 million of the SSBCI funding has been earmarked specifically for tribal governments. One tribe that has received SSBCI funding is the Yurok Tribe, which will use the money to run new loan participation programs under its Alliance Community Development Financial Institution (CDFI). The tribe’s CDFI was created to address the lack of financial services — including lending to individuals and small businesses — in their remote area.
Federal Initiative on Access to Capital in Indian Country. This multiagency effort will help tribal governments, tribal enterprises, and CDFIs as well as individual Native entrepreneurs learn about and access federal funding resources.
Emergency Capital Investment Program (ECIP). With an investment of more than $230 million in Native-owned and Native-majority shareholder financial institutions, this program benefits enterprises that acquire funds from deposits made by the public (depository institutions). According to the U.S. Treasury, this investment could increase lending in Native communities by $7 billion over the next decade.
CDFI Rapid Response Program. Native communities impacted by the pandemic received more than $55 million through this program.
Equitable Recovery Program. In April of this year 30 Native CDFIs were awarded $46 million under this program, which will translate into increased funding available for private and business borrowers in these low- and moderate-income communities.
Build Back Better Regional Challenge Grant (BBB-RC). The Department of Commerce awarded $45 million under this program to the Mountain Plains Regional Native CDFI Coalition to invest in Native businesses. This award is one of more than 100 Commerce Department economic development grants earmarked for projects in Native communities using American Rescue Plan funding.
Fiscal Recovery Funds. In 2021, $20 billion in Fiscal Recovery Funds went to 579 tribal governments to offset economic devastation caused by the pandemic. Tribes used the funds to meet their own unique needs.
STEM professionals are finding that Indigenous-owned organizations — large and small — are making Indian Country and beyond an attractive place to build a career. This roster of 10 Native STEM Enterprises to Watch is intended to be representative of the variety of those organizations. Enterprises on the list were chosen based on broad criteria, such as workforce and business development, philanthropy, support of education, STEM knowledge, and overall organizational values.
▸ Bodwé Professional Services Group
Southwestern Michigan
Field Non-gaming enterprises of the Pokagan Band of Potawatomi, including architecture, design, energy management, and engineering
bodwegroup.com
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▸ Diné Development Corporation
Scottsdale, Ariz.
Field Tribally-owned family of companies with capabilities in IT solutions and environmental and professional services
ddc-dine.com
▸ Koniag Government Services
Chantilly, Va.
Field Alaska Native Regional Corporation with subsidiaries in government, consulting services, IT, and facilities and operations management
koniag-gs.com
▸ Navajo Transitional Energy
Farmington, N.M.
Field Applies expertise in mining and energy to develop tribal resources and provide power to Navajo Nation customers
navenergy.com
▸ Quapaw Nation Cattle Company
Quapaw, Okla.
Field Producing humanely raised beef and buffalo products
Quapawtribe.com
▸ Sealaska Corporation
Juneau, Alaska
Field Alaska Native regional corporation offering land and natural resource management, environmental services, and seafood
sealaska.com
▸ Tribal Tech LLC
Alexandria, Va.
Field Woman-owned management, consulting, and technical services company working in multiple areas with government and private entities
tribaltechllc.com
▸ Wichita Tribal Enterprises
Houston, Texas
Field Provides services in diverse areas, including IT infrastructure and engineering; financial, facilities, asset and business management; and contracting support services
wichita-tribe.com
▸ Windward Engineering and Consulting
Minneapolis, Minn.
Field Custom design solutions; energy and sustainability; mechanical, electrical, and plumbing; telecom; and security
windwardec.com
▸ WONDR NATION
Mashantucket, Conn.
Field Online gaming and entertainment
wondrnation.com