Reconciliation in Business and Economy
What Is Economic Reconciliation?
Economic reconciliation refers to the process of addressing and repairing the historical and ongoing economic injustices faced by Indigenous Peoples in Canada. It means building respectful, meaningful, and mutually beneficial economic relationships between Indigenous and non-Indigenous communities, governments, and businesses. This work must go beyond inclusion—it must restore economic self-determination and support the resurgence of Indigenous economies on Indigenous terms.
Why It Matters
For generations, colonial policies such as the Indian Act, land dispossession, and residential schools have excluded Indigenous communities from fully participating in Canada’s economy. These actions have created deep-rooted economic disparities, including underemployment, poverty, and lack of infrastructure in many Indigenous communities. Economic reconciliation is a vital step toward healing, justice, and nation-to-nation relationships.
Key Principles of Indigenous Economic Reconciliation
- Respect for Indigenous Rights and Title: Honouring treaties and recognizing Indigenous jurisdiction over traditional territories is foundational.
- Self-Determination: Indigenous communities must have the freedom and support to determine their own economic futures.
- Capacity Building: Investments in education, training, and infrastructure are essential for long-term success.
- Partnership and Equity: Economic partnerships must be built on trust, transparency, and shared benefits.
- Recognition of Indigenous Knowledge Systems: Indigenous ways of knowing and doing business are valuable and must be respected and integrated.
Areas of Action
- Business Development
Support Indigenous entrepreneurship, procurement policies that prioritize Indigenous suppliers, and equitable access to capital. Indigenous-owned businesses are thriving in sectors from clean energy and technology to tourism and natural resources.
- Employment and Training
Create pathways to employment through culturally relevant education, mentorship, and skill-building programs tailored to Indigenous youth and adults.
- Resource Revenue Sharing
Ensure that Indigenous communities receive fair compensation and decision-making power over natural resources developed on their lands.
- Infrastructure Investment
Invest in clean water, housing, broadband, and transportation systems that enable economic growth and improve quality of life.
- Inclusive Financial Systems
Work with banks and financial institutions to eliminate barriers to credit and financing for Indigenous individuals and communities.
What Reconciliation Requires
True economic reconciliation requires sustained commitment and structural change. Some of the core requirements include:
- Recognizing and upholding Indigenous land rights and self-governance
- Creating long-term, Indigenous-led economic development strategies
- Ensuring Indigenous representation at all levels of decision-making
- Investing in Indigenous youth, innovation, and education
- Dismantling systemic barriers and colonial mindsets in policy and practice
- Shifting from charity-based models to rights-based, equity-based frameworks
How You Can Help
Whether you're an individual, business leader, educator, or policymaker, you have a role to play in advancing economic reconciliation:
- Support Indigenous-owned businesses in your community and online
- Learn about and share the Truth and Reconciliation Commission’s Calls to Action, especially Call to Action #92 (Business and Reconciliation)
- Advocate for equitable procurement and hiring policies in your workplace or school
- Invest in Indigenous-led funds and initiatives
- Include Indigenous voices in decisions and partnerships at every level
- Acknowledge the land you live and work on and understand its history
- Keep listening, learning, and unlearning—reconciliation is a lifelong commitment
Create Your Own Website With Webador