Government invests in opportunities for aboriginal entrepreneurs

Journal Pioneer staff
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MONCTON, N.B. – Aboriginal entrepreneurs in Atlantic Canada will continue to have access to capital and business support services in order to start and grow their businesses, thanks to recent support from the Government of Canada. Rob Moore, Minister of State (Atlantic Canada Opportunities Agency), recently announced federal funding for Ulnooweg Development Group Inc., the region’s only Aboriginal capital corporation.

 

“Our government is pleased to support the Ulnooweg Development Group as it works to create exciting, sustainable economic opportunities for Aboriginal entrepreneurs and their communities,” said Moore. “We remain committed to fostering the conditions that help Aboriginal entrepreneurs grow their businesses, create jobs in Atlantic Canada and contribute to the region’s long-term economic prosperity.”

UDG has helped Aboriginal businesses in Atlantic Canada succeed since 1986. Since 2011, UDG has provided nearly $10 million in loans to 105 new and existing businesses, which have helped create and maintain 320 jobs in Atlantic Canada’s Aboriginal communities.

The Government of Canada, through ACOA’s Business Development Program, is investing $421,000 to support UDG’s operational costs in 2013-2014 associated with the delivery of pan-Atlantic lending activities and business support services. This investment will allow Ulnooweg to continue to provide assistance to Aboriginal entrepreneurs to start and expand their businesses.

“This funding from ACOA enables Ulnooweg to provide our lending and advisory services to help more Aboriginal businesses start and grow, which in turn contributes to economic activity within Atlantic Canada,” said Chief Terrance Paul on behalf of the Ulnooweg Board of Directors.

The Government of Canada’s investment is in addition to funding of $835,155 in 2011-2012 and 2012-2013, which brings the total federal investment to more than $1.2 million over three years in support of UDG’s lending activities and business support services.

Organizations: Ulnooweg Development Group

Geographic location: Atlantic Canada

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