b'DOING BUSINESS DIFFERENTLYDOING BUSINESS DIFFERENTLY BY BRYAN C.K. HANSENUnderstanding culture overcomes bias and creates profitable businesses A s National Lead forGiving back to community canAnother cultural difference is Indigenous Exportersreduce profit on paper and bethe transfer of wealth between at Export Developmentviewed as more of a social enter- generations. There is much more Canada (EDC), Todd Evansprise, says Evans. Their profits mayintergenerational wealth transfer leads the company inbe lower, but this is by choicetheybetween non-Indigenous people, providing Indigenous entrepreneursspecifically choose to give backsays Evans. Many [Indigenous with new business opportunitiesto the community. They make anentrepreneurs] often dont have through raising awareness of EDCseffort to hire more youth. Thingscollateral for operating loans and services and removing barriers tolike this might impact overalllines of credit. Some of this is accessing them. EDC has their ownprofits, and a bank can look at thisrelated to the Indian Act, and some knowledge resources, guidanceand see it as a negative becausejust dont have as big of a support tips, how-tos and a whole rangethey dont understand the socialnetwork to turn to.of products to help companiesaspect behind it.understand the export market, saysHowever, lack of capital doesnt Evans. We try to help companies,There are also geographical factorsnecessarily correlate with a lack in general, understand the interna- prevalent in Indigenous businesses.of knowledge. With Indigenous tional trading network. Many Indigenous businesses arePeoples, there is a higher transfer in remote or rural communities,of intergenerational knowledge as Evans has been with EDC for 25where services are typically lower years, but he is the first personand they may not have the same to step into the National Leadaccess to support networks and for Indigenous Exporters roleaopportunities, explains Evans.necessary move as Indigenous business steadily grows. Along withAccording to Evans, contrastingJUST BE OPEN MINDED growing business comes an ever-in- worldviews also present them-creasing need for capital. Whenselves when Indigenous entre-the National Aboriginal Capitalpreneurs are looking at a project.AND LISTEN. MAKE Corporations Association got theirIndigenous worldview is more first injection of capital, it was 30community-focused and longer-years ago, Evans says. That has notterm, he says. Its about beingSURE THAT YOU DONT been replenished, so theyve hadmore contemplative and consid-to build this up on their own as aering your impact on things like the lending resource over time.next seven generations to come. Indigenous businesses have less ofSIMPLY DISMISS THE Through his role at EDC, Evans hasa short-termview. familiarized himself with the ways that Indigenous entrepreneursThis can conflict with the philos- INDIGENOUS BUSINESS approach and run their business,ophies of major financial institu-and how they differ from non-In- tions. Banks are all about quarterly digenous business operations.financial planning and things thatRIGHT AWAY.As an example, Evans notes thatare short-term, he says. Whereas Indigenous business usually haveIndigenous business owners a much stronger social perspectivetend to focus more on the long-than non-Indigenous businesses do.termbenefits. TODD EVANS8 FORWARD MAGAZINE | VOLUME 1 2022'