b'environmental protection, trainingThe most critical piece of this is to[will] take into account proper and employment, contracting andlisten and come to the table withbudgeting, conflict of interest business development, memberarrangements that, if they wereand confidentiality measures, entrepreneurship and own-sourceto move ahead, would provideaccounting best practices revenue arrangements. This leadssignificant benefits to the commu- and involvement of outside to the continuing empowerment ofnity in question. These benefits willfinancial bodies like the First both our First Nation communitiesvary depending on the community.Nations Financial Management and of its members. BlossomingSome will see employment as theirBoard and the First Nations multi-First Nation partnerships cannumber-one priority. In BNAs case,FinanceAuthority.also have ripple effects in the devel- we are developing a First Nation opment of additional opportunitiesfrom scratch that was previouslySeparation of Business throughout the region. destroyed by the government, andfrom Politics: A successful therefore revenue generation isIndigenous economy must Outside changes that wouldour most important priority. It is[consider] the need to support this important workimportant to find out what those include government funding forpriorities are and find ways to assistcreate separate entities for regional partnership developmentcommunities as they continue toits economic development work for groupings of First Nationstrive for economic reconciliation. activities. The creation of communities; encouraging busi- arms-length economic devel-nesses in forestry, mining andFM: What will a successfulopment corporations and LPs exploration, and other regionalIndigenous economy look like in(limited partnerships) is not resource industries to work collab- the future? easy. It requires significant oratively with Indigenous commu- community trust and member nities for their projects; and lookingJH: A successful Indigenousinvolvement. However, it at true partnership opportunities,economy will be different for everyprovides outside businesses the wherever they may be. First Nation. However, commoncertainty that partnerships will pillars include: survive beyond the next Chief FM: What advice would youand Council election cycle, and provide to Canadian businessesFull Employment: First Nationit ensures that decisions are interested in partnering withmembers are able to providemade in the best interest of the Indigenous communities? a good life for themselves and their familiesnot relyingbusiness at hand.JH: Dont be afraid to approachon the government or their the community and commenceFirst Nation, but rather on aA Diversified Economy: First the discussion. This should start atgood, solid, well-paying job forNations must think beyond the the staff levelapproaching thetheirsuccess. one industry or business oper-economic development folks withinating in their vicinity, especially the First Nations organization andOwn-Source Revenues:resource-based opportunities. asking to set up a meeting to discussPartnerships, entrepreneurial[There is] no question that their thoughts and ideas. Progressivebusinesses, investments, agree- mines and forestry mills are communities will rarely shut out aments and other arrangementsgreat economic drivers when good idea. While not every commu- are formed by communitieslocated near to a community, nity is ready for every opportunity,both on and off reserve toboth for employment and for they will hopefully be interested inensure that multiple revenuerevenue generation. However, at least having the initial conversa- sources can be achieved. Thisthese opportunities are often tion and seeing where it goes fromlessens the reliance on govern- cyclical and may not provide there. However, companies shouldment and ensures that thethe long-term economic be prepared to listen to the ideas ofFirst Nation is able to movestability that a diversified the communities as well, as whatforward with its priorities on itseconomic base can provide. they are interested in receiving fromownterms. A successful Indigenous the partnership may differ substan-tially from the companys vision.Financial Stability: A successfuleconomy should include many Having aligned visions is critical toIndigenous economy dependsopportunities for community the successful execution of a partner- on a strong and stable financialdevelopment and not rely on shiparrangement. backbone. Financial policiesany one regional player. futureAPPLY NOW!www.fnuniv.caFORWARD MAGAZINE | VOLUME 1 2022 25'