By chesley.oxendine@gmail.com (Chez Oxendine)

Welcome to Breaking the Blueprint — a blog series that dives into the unique business challenges and opportunities of underrepresented business owners and entrepreneurs. Learn how they’ve grown or scaled their businesses, explored entrepreneurial ventures within their companies, or created side hustles, and how their stories can inspire and inform your own success.

It’s no secret that Native entrepreneurs face an uphill battle when starting up their businesses. Indigenous businesses have hurdles at nearly every step of the process, whether it’s a lack of access to credit, trouble getting technical assistance or training, or a cultural barrier between investor expectations and business owner goals.

Yet some business owners persist anyway, climbing over whatever obstacles are ahead to succeed in their respective fields.

Native entrepreneurs have moved into a multitude of industries with profitable, impactful businesses amid surges in federal and tribal support, and Indigenous people are seeing themselves represented in more swathes of the business world. In this post, I’ll introduce you to three native entrepreneurs you need to know about.

Three Native Entrepreneurs in Different Sectors

1. Amber Buker, Totem

Choctaw Nation of Oklahoma tribal member Amber Buker knew she needed a bank specifically focused on Native American needs and experiences when she discovered an “invisible gap” in traditional banking while trying to buy a house.

Buker ran into rejections from major banking institutions, primarily because none of them were aware of, or at least did not implement, the available federal support for Native American home loans. “It was a broken process where I really felt invisible,” she said. “My tribe had a down payment program, but my bank refused to help me use it.”

That represented Buker’s wider experience with banks, even as she began working in the industry through a friend’s business. Realities for Native Americans meant that even basic security policies, such as refusing to mail debit cards to PO boxes, inhibited people’s ability to use traditional banks and, by extension, access the wider economy (not everyone on a reservation has a personal mailbox – meaning some Natives wouldn’t be able to get a debit card at all).

Because of that, Native Americans have become per-capita the most unbanked demographic in the United States, Buker said, with 16 percent completely disconnected from the banking system, per a report by Bankrate.com.

However, under Buker’s guidance, financial technology and banking company Totem plans to change that.

By building a bank that understands the lived experiences of Native users, Totem will boost Natives’ engagement with a system that has often failed them. To date, the company has introduced spend accounts that are not only accessible online but also designed to withstand connectivity fluctuations and weak signals, which often pose challenges for rural Native tribal members residing in remote reservation lands.

“We wanted to have a safe, free account that benefits could be deposited into, and we also prioritize features that uphold Native values,” Buker said. “Sending money from Totem account to Totem …read more

Source:: HubSpot Blog

Author: Aaron