First Nations entrepreneurship was the topic of discussion Thursday at a meeting in Saskatoon.
Ernesto Sirolli is the founder of a non-profit organization that teaches community leaders, governments and organizations how to make investments.
He says often potential entrepreneurs have a good business idea but they lack the management expertise to make it successful.
“In reality, there is a methodology and the methodology is called management, management means the division of labour,” he says.
Sirolli adds First Nations entrepreneurs can retain their culture and make money at the same time as long as they establish a viable business.
“It is only when Aboriginal entrepreneurs have good management in place, then they can decide whether they want to make 100 per cent profit, or 20 per cent or they want to reinvest 80 per cent of their profit in Aboriginal activities.”
He also says there is plenty of investment capital available, as long as Aboriginal entrepreneurs have a sound management plan.
The meeting was hosted by the Saskatchewan Indian Equity Foundation at the Saskatoon Inn.