CCIB’s initial reaction to Budget 2025
October 23, 2025, Toronto, ON – Budget 2025 plants some promising seeds for Indigenous economic growth, but realizing their potential will require genuine partnership, measurable targets, and investment in closing the critical gaps that continue to limit opportunities for Indigenous Peoples. CCIB looks forward to continuing our work with government and industry to ensure these commitments translate into lasting growth for the Indigenous economy and shared prosperity for all Canadians.
The budget’s focus on expanding defence spending and accelerating major projects offers potential pathways for Indigenous leadership in shaping Canada’s economic future. However, without measurable targets, sustained capacity building, and meaningful procurement opportunities, those pathways will remain unexplored.
Budget 2025 places Indigenous inclusion ‘at the centre’ of $60 billion in major projects and defence industry spending. Time will tell. Highlights include the establishment of $40 million for the Indigenous Strategic Partnership Initiative, continued support of Indigenous Financial Institutions and the doubling of the Indigenous Loan Guarantee Program to $10 billion. While it is positive notionally that funding for Indigenous Services Canada (ISC) and Crown Indigenous Relations and Northern Affairs Canada (CIRNAC) has largely been maintained, any reductions, even modest ones, risk compounding existing delays in approvals required to move business and economic growth forward.
At the same time, the budget leaves clear gaps. There is still no dedicated, multi-year investment to build Indigenous business capacity—not just to respond to government projects, but to initiate, lead, and scale enterprises in clean tech, digital infrastructure, and value-added resource processing. Indigenous entrepreneurs face a 40% higher failure rate in the first five years, due largely to limited access to mentorship, market networks, and technical training. Budget 2025 specifically dedicates funding for women and Black entrepreneurs, while Indigenous entrepreneurs, often starting furthest behind, did not merit comparable attention.
While there are some continued commitments to community infrastructure and clean drinking water, critically, the budget does not go far enough to close the significant gaps that Indigenous communities face. These omissions raise concerns about Canada’s ability to meet its commitments to improving quality of life, education and essential services—foundations without which economic reconciliation cannot succeed.
Capacity building is essential for Indigenous businesses to compete for the $37 billion allocated for Indigenous and municipal projects within the budget’s $115 billion total infrastructure plan (about a 15% increase), and for them to truly be “at the centre” of the $60 billion in infrastructure and defence spending.
As Canada implements Budget 2025, the focus must shift from inclusion in principle to partnership in practice, with clear targets, accountability and co-developed strategies that ensure Indigenous businesses are not just participants, but leaders in the infrastructure projects that will shape Canada’s future.
True economic reconciliation depends on building capacity from the ground up and ensuring that opportunity translates into long-term prosperity for Indigenous Peoples and for all Canadians.
CCIB will continue its commitment to ensuring Indigenous voices are heard on Parliament Hill. We encourage members to share their thoughts and concerns about Budget 2025 with our team by reaching out to research@ccib.ca.
A more in-depth analysis of Budget 2025 is forthcoming; please check back for updates.
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About Canadian Council for Indigenous Business:
CCIB is committed to the full participation of Indigenous peoples in Canada’s economy. As a national, non-partisan association, its mission is to promote, strengthen and enhance a prosperous Indigenous economy through the fostering of business relationships, opportunities, and awareness. CCIB offers knowledge, resources, and programs to its members to cultivate economic opportunities for Indigenous peoples and businesses across Canada. For more information, visit www.ccib.ca.
For more information, contact:
Chris Overton
Director, Marketing & Communications
Canadian Council for Indigenous Business
coverton@ccib.ca
T: 416.961.8663 ext. 828
