An Indigenous business leader says the natural resources sector in Canada presents significant opportunities for the Indigenous economy.

Steven Vanloffeld, founder and chief executive officer of eSupply Canada, told BNN Bloomberg that Indigenous peoples are “punching above their weight” and making major contributions to local and regional economies.

He sees that pattern continuing with numerous natural resources projects in development.

“If we look at Canada as a whole, I think where we're going to see the biggest gains in Indigenous businesses, both from an entrepreneurial standpoint as well as an Indigenous government-run business standpoint, is in providing goods and services to the natural resource sectors,” Vanloffeld said in an interview.

Vanloffeld, a former band councillor with the Saugeen First Nation in Ontario, founded industrial supplier eSupply Canada in 2019 “with the purpose of giving Indigenous communities and businesses a community-centred option for acquiring the supplies they need,” according to the company’s website.

UPCOMING OPPORTUNITIES

Vanloffeld pointed to hundreds of major projects that, as of this spring, were under construction or planned over the next decade. He estimated their total capital value as close to $600 billion – and he views those projects as major business opportunities for Indigenous peoples.

“What we need is procurement on those projects as well as equity stakeholders,” he said. “Goods and services for the natural resource sector, I think, is where we're going to see the biggest gains.”

For the full interview with Vanloffeld, click on the video at the top of this article.