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2011 South Dakota Indian Business Conference

2011 South Dakota Indian Business Conference. Opening Remarks by Tanya Fiddler, Chair. Background & History. Established in 2007 Mission: To enhance Indian business development by leveraging partnerships and resources of diverse institutions and organizations.

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2011 South Dakota Indian Business Conference

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  1. 2011 South Dakota Indian Business Conference Opening Remarks by Tanya Fiddler, Chair

  2. Background & History • Established in 2007 • Mission: To enhance Indian business development by leveraging partnerships and resources of diverse institutions and organizations. • Quarterly Meetings & Conference Calls • Policy Roundtables & Recommendations 2011 South Dakota Indian Business Alliance

  3. Our Leadership • Executive Team • Leadership Council • Conference Planning Committee 2011 South Dakota Indian Business Alliance

  4. A Strategic Approach to Sustainability • Developed by Susan Woodrow, Federal Reserve Bank of Minneapolis, in 2008 • Model for Business Development in Indian Country 2011 South Dakota Indian Business Alliance

  5. Northwest Area Foundation Citi Foundation Lakota Funds Federal Deposit Insurance Corporation Federal Reserve Bank of Minneapolis Pine Ridge Area Chamber of Commerce USDA Rural Development Four Bands Community Fund South Dakota Community Foundation South Dakota Rural Enterprise, Inc. First Interstate Bank Fredericks, Peebles, and Morgan, LLP Hunkpati Investments Conference SupportersWopila Tanka 2011 South Dakota Indian Business Alliance

  6. Our Purpose • Build. • Reservation economic climates are conducive to private sector entrepreneurship development. • Collaborate. • Bring together the experts to share successes in entrepreneurship development. • Inform. • Let media and general public know of the positive realities in South Dakota’s reservation communities. 2011 South Dakota Indian Business Alliance

  7. The New Native America • South Dakota’s reservation counties experienced significant growth, meeting or exceeding the state’s economic momentum index • Native Community Development Financial Institutions exist or are emerging on 7 of the 9 South Dakota Reservations and in Rapid City • 10% of economic development financing came from non-bank lenders in the past year 2011 South Dakota Indian Business Alliance

  8. Income, Employment, and Population Growth South Dakota Sources: South Dakota Department of Labor, US Census Bureau 2000, US Census Bureau 2005-2009 American Community Survey 5-Year Estimate Mike McCurry, Ph.D., South Dakota State University 2011 South Dakota Indian Business Alliance

  9. Income, Employment, and Population Growth South Dakota Growth 2000-2009 South Dakota Economic Momentum Index 13.13% Sources: South Dakota Department of Labor, US Census Bureau 2000, US Census Bureau 2005-2009 American Community Survey 5-Year Estimate Mike McCurry, Ph.D., South Dakota State University 2011 South Dakota Indian Business Alliance

  10. Median Income by Reservation 2011 South Dakota Indian Business Alliance

  11. Median Income Growth Exceeds State Average • Median income growth on reservations 40.07% • Compare to 27.06% for overall South Dakota Average 2011 South Dakota Indian Business Alliance

  12. Employment by Reservation 2011 South Dakota Indian Business Alliance

  13. Employment Growth Exceeds State Average • Employment growth on reservations 10.63% • Compare to 6.83% for overall South Dakota average 2011 South Dakota Indian Business Alliance

  14. Economic Momentum Index for South Dakota Reservations • Measures momentum of county relative to overall state • % change in employment, population, and income for the area normed to the state’s average over time 2011 South Dakota Indian Business Alliance

  15. Who & What is Inspiring Our New Native America • Partnerships • Native Entrepreneurs • CDFIs • Resources • Supporting Organizations 2011 South Dakota Indian Business Alliance

  16. The Native Entrepreneur • Native entrepreneurship is expanding with support from Native CDFIs and other traditional lenders • Microentrepreneurs are providing products and services locally, impacting Tribal revenues and quality of life • Youth entrepreneurs are creating meaningful work and job opportunities that didn’t exist before 2011 South Dakota Indian Business Alliance

  17. CDFIs: Investing in Native Entrepreneurs $9,224,182 $2,511,738 $48,295 $5,487,864 $1,176,285 2011 South Dakota Indian Business Alliance

  18. More Work Lies Ahead • An Entrepreneurial Parity Gap Remains • $126 billion gap in gross receipts for American Indian & Alaska Native businesses • Need an additional 147,000 American Indian & Alaska Native businesses to be comparable to average American population • Average household median income still considerably lower than state and national averages 2011 South Dakota Indian Business Alliance

  19. Kim Trujillo • Owner of Bow-K’s in Pine Ridge • Provides sweet treats and floral arrangements • Funding from Lakota Funds 2011 South Dakota Indian Business Alliance

  20. Lonny White Eyes • 2010 Micro-Entrepreneur of the Year • Prairie Dog Eradication • Employs 3 employees during summer months • Funding by Four Bands 2011 South Dakota Indian Business Alliance

  21. RJ Lawrence • Lawrence Lawn Care • IDA Saver • State Business Plan Winner • National Recognition 2011 South Dakota Indian Business Alliance

  22. Conference Overview • Panels and Breakout Sessions designed around our business development model and policy recommendations. • Coaching Corner • Resource Track • Visit our Exhibitors & Vendors 2011 South Dakota Indian Business Alliance

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