ITFC connects Indigenous businesses with contracting authorities, boosting
visibility and enhancing procurement success.
Indigenous-owned businesses are often overlooked in federal procurement opportunities,
despite having the capacity to fulfill these contracts. By identifying and promoting their businesses on platforms like ITFC, Indigenous entrepreneurs can bridge the gap and gain
visibility among contracting authorities who may not be aware of their existence.
Suppose you are an Indigenous-owned construction company with the capacity to handle
large infrastructure projects. Despite having the necessary skills and resources, your
company frequently misses out on federal contracts. The primary reason? Contracting
authorities are unaware of your existence and capabilities. This lack of visibility means that
even when there are opportunities specifically set aside for Indigenous businesses, you are
often overlooked.
Understanding the Procurement Strategy for Indigenous Business
The Procurement Strategy for Indigenous Business (PSIB)—initially launched as the
Procurement Strategy for Aboriginal Business in 1996—aims to set aside federal
procurement opportunities specifically for Indigenous businesses. Despite its potential, the
program has been largely ineffective, with less than 1% of federal spending allocated to
Indigenous businesses. This lack of awareness and understanding on both sides (those
implementing the policy and those benefiting from it) has hindered its success.
The Role of ITFC in Enhancing Indigenous Procurement
ITFC’s supplier development initiative intends to change this narrative. By creating a
comprehensive database of over 55,000 Indigenous businesses, ITFC enables contracting
authorities to easily identify and engage with Indigenous suppliers. This platform not only highlights the capacity of Indigenous businesses but also addresses and eliminates barriers
to participation in federal procurement.
With ITFC, your construction company is easily discoverable by contracting authorities,
who can then include you in the procurement process. This visibility prevents costly and
time-consuming legal battles often required to secure participation in these projects.
Proactive Power
By leveraging ITFC’s platform, Indigenous businesses can proactively showcase their
capabilities and position themselves strategically within the procurement landscape. With
increased visibility and engagement, these businesses can contribute significantly to
achieving the federal government’s socio-economic goals.
So don’t miss out on valuable federal procurement opportunities that could significantly
grow your business. Join ITFC today and ensure your business is visible to contracting
authorities looking for your expertise!
