Indigenous Youth Entrepreneurship opens doors to business success

By Chevi Rabbit, Local Journalism Initiative Reporter

(ANNews) – Entrepreneurship is becoming an increasingly powerful pathway for Indigenous youth seeking economic independence, community impact, and long-term opportunity. At the centre of this movement is Amanda Muskegoe, a Business Services Officer with the Indigenous Youth Entrepreneur Program (IYE), delivered through the Alberta Indian Investment Corporation.

Muskegoe, from Cold Lake First Nations and Denesuline Kwe, works directly with Indigenous youth aged 18 to 39 who are looking to start or expand their businesses.

“My role is to help Indigenous youth start or grow their own businesses through the IYE program,” she explained. “It’s a microloan program that provides up to $25,000, and up to 45 per cent of that can be a non-repayable contribution.”

The Alberta Indian Investment Corporation (AIIC) is an Indigenous financial institution that has played a long-standing role in supporting First Nations economic development in Alberta. It was established in the 1980s as part of a national network of Indigenous Financial Institutions created to improve access to business financing for Indigenous entrepreneurs and communities.

As part of this network, AIIC provides business loans, development support, and advisory services designed specifically for Indigenous clients who may face barriers in accessing traditional banking systems. Over the decades, it has helped support hundreds of Indigenous-owned businesses across Alberta in sectors ranging from retail and construction to professional services and tourism.

Today, AIIC continues to focus on economic empowerment through programs like the Indigenous Youth Entrepreneur Program, helping the next generation of Indigenous business owners build sustainable futures.

For those interested in the program, Muskegoe says the process is intentionally straightforward.

“If any Indigenous youth are interested in starting their own business or becoming an entrepreneur, they can contact us at the Alberta Indian Investment Corporation and tell us about their business idea – what they’re looking to start or grow,” she said.

Applicants are guided through a simplified business plan and a one-year cash flow projection.

“We want it to be accessible,” she added. “The business plan guidebook is a simplified version so it’s not overwhelming. The one-year cash flow is really important because it shows all the money coming in and going out, and helps determine if the business is sustainable.”

The goal, she says, is not just approval – but long-term success. “We want these businesses to generate money and be sustainable for the youth.”

The Indigenous Youth Entrepreneur Program was developed by the National Aboriginal Capital Corporations Association (NACCA) and delivered through Indigenous Financial Institutions (IFIs) across Canada.

“The program was designed by NACCA and then given to Indigenous Financial Institutions to deliver,” Muskegoe said. “There are about 59 IFIs across Canada, and the Alberta Indian Investment Corporation is one of them.”

IFIs, she explained, are community-based financial organizations that provide lending and business support specifically for Indigenous entrepreneurs.

Muskegoe says the program plays a critical role in addressing long-standing financial barriers. “It lowers the barriers to entry when it comes to accessing finance for Indigenous businesses,” she said. “Traditional banks often have stricter eligibility requirements.”

Through IYE, clients are only required to contribute a 5% equity investment. “That helps people who may not have a lot of cash upfront but have strong business ideas,” she said.

The program also includes significant non-repayable support. “Up to 45 per cent of the funding can be a non-repayable contribution. So on a $25,000 loan, up to $11,250 does not need to be paid back,” she explained.

While considered a microloan, Muskegoe emphasizes its real-world impact.

“$25,000 is a microloan, but for someone starting out, it’s a meaningful amount of capital to launch a business.”

The program has already supported a growing number of Indigenous youth entrepreneurs, including two early clients who stand out.

One of the first was Tysheina Amanda Fernandes McCoy, founder of Teemik Immigration Consulting Inc., based in Edmonton.

Through her business, she supports individuals and families navigating Canada’s immigration system, helping clients understand and access complex processes.

Another success story is Beau Thomas, owner of KB Moving Rentals.

As one of the youngest clients at just 20 years old, Thomas used the program to purchase trailers and equipment to launch his Edmonton-based business.

KB Moving Rentals offers flexible moving solutions including trailer rentals, moving assistance, reusable moving boxes, and junk removal services – allowing customers to choose only what they need.

His business reflects a growing trend of young Indigenous entrepreneurs identifying practical gaps in their communities and building solutions around them.

For those interested in applying or learning more, Muskegoe encourages direct outreach.

“Anyone can visit AICBusiness.org or email me at [email protected],” she said. “They can also call the office at 780-470-3600, or book a call online through the Indigenous Youth Entrepreneur Program page.”

Her message to youth is simple: “If you have questions, just reach out. Even if you’re not sure where to start, we’re here to help guide you through it.”

As Indigenous entrepreneurship continues to grow across Canada, programs like IYE are becoming key drivers of economic empowerment and community development.

By lowering financial barriers, offering flexible support, and investing directly in youth-led ideas, the program is helping reshape what business ownership looks like in Indigenous communities – one entrepreneur at a time.