3 Common Barriers to Native American Entrepreneurship
For over 400 years, Native Americans have endured resource extraction and collective trauma. As a result, the potential impacts of Native American business across Indian Country and beyond have been severely overlooked. Native American entrepreneurs are an essential part of building regenerative economies and ecosystems, yet face real and unique challenges building successful organizations.
Challenge 1: Restricted Access to Capital
Native entrepreneurs are often denied loans, and the loans that are approved are far too small. Moreover, Native Americans have been almost completely locked out of access to equity investments. The consequence of this is that Native entrepreneurs often resort to bootstrapping, investing large amounts of personal savings into their businesses. This, in turn, creates greater economic strain on the entrepreneur personally and professionally.
Challenge 2: Discrimination
Native entrepreneurs face discrimination at nearly all phases of business growth. Some key areas that are extremely difficult to access include, but are not limited to:
Educational opportunities
Networks and capital
Brick and mortar spaces
This lack of access is due to structural inequities and racism and must be overcome to allow Native entrepreneurs to scale their businesses and transform their local economies.
Challenge 3: Cultural Misunderstanding
Native entrepreneurs are often misunderstood when it comes to communicating their businesses’ values, goals, and ways of operating. Native-owned businesses are often rooted in traditional values that drive circular economies that benefit community members and the surrounding ecosystem. Lack of understanding of this circular process inhibits partnerships and efficient decision-making.
To thrive, Native Americans need priority access to reparative resources and collective healing support to be effective guardians of traditional ecosystems and economies. JumpScale is committed to addressing these challenges alongside Native American communities.
Alexis (left) with Danielle Hill, CEO of Heron Hill, LLC
Alexis Bunten, (Unangan/Yup’ik) serves as a JumpScale Senior Advisor and Co-Director of the Bioneers Indigeneity Program. She has served as a program director, media-maker, consultant and applied researcher for 20 years. Alexis’ areas of expertise include Indigenous-led economic development, organizational decolonization, and cross-cultural communications. Learn more about Alexis here.