Dine' Business Knowledge Resources

Dine' Business resources promotes Navajo economic development through collaboration.

The Navajo nation does not have a viable business resources center that helps its small business community.  There are some resources at the seat of the Navajo Nation Government, but its too far for most people to travel.  Secondly, financial literacy on the Navajo Nation is very weak, because there are no consumer education resources.  Together, these shortfalls stymie economic growth and adept consumerism on the Navajo Nation.  

Navajo entrepreneurs face specific challenges when transforming traditional small businesses and new ideas into profitable business enterprises.  For example, entrepreneurs who desire to provide products and services in reservation communities face an additional set of challenges that requires special knowledge of the Navajo Nation and Bureau of Indian Affairs bureaucracy.  These challenges include startup funding, business location approvals, construction approvals, and obtaining the required licsences.  As a result, there are many business that remain sidelined in the informal economy that don't get financing options to expand and grow.

Navajo consumers lack basic business acumen, because the public schools do not do an adequate job in teaching these classes.  Thus Navajos are routinely taken advantage of by financial institutions or car dealerships, and they lack the confidence to apply for mortgages or invest in the stock market. Mortgage lending is very challenging for the Navajo Nation; people lack the requisite information to capitalize on programs provided by HUD Section 184: Indian Home Loan Guarantee Program and Section 502: Direct Loan Program.

My solution to the problems I identified is The Dine' Business Knowledge Resources, an incorporated non-profit organization.  It will teach Navajos (teens and adults) basic financial literacy and assist entrepreneurs in navigating bureaucratic obstacles that prevent innovative ideas from becoming viable businesses by providing services that include tools for business financing; business education and counseling; and networking and mentorship opportunities.

My solution will accelerate local Navajo economic growth and businesses success through a variety of business support resources and services.  Additionally, it will provide financial literacy education, to include financial planning, budgeting, debt management, and investing to young consumers.  My solution will service select communities first, then over time it will spread and serve all of the Navajo Nation.  My solution is suited to accelerate entrepreneurship in Navajo communities because it promotes collaboration to address shared challenges and provides individually tailored services for the purpose of overcoming obstacles unique to each participating business.  My solution will also stimulate economic development by providing Native entrepreneurs with the tools to grow businesses that offer products and services to Navajo communities.

The biggest barrier for my project is the startup costs, facilities, and operational costs.  I will need to establish my project as an incorporated non-profit organization. 

I intend to use web-based modules to teach financial literacy, to include financial planning, budgeting, investing, and debt management.  Computers will be used for business plan development, video conferencing, and accessing web-based solutions and resources like the SBA.  As the project takes off, I want to develop our website into a helpful tool for Dine' looking to understand how to take their personal finances or business further by including interactive modules, accounting applications, and more.  Lastly, I want help Navajo entrepreneurs manage and grow their businesses by offering industry specific, customized mobile software programs for client and finance data management. 

My idea is new and has great potential to spur economic growth like no other on the Navajo Nation.  The partnership potential is huge and will include universities, public schools, Navajo Nation government, Arizona, financial institutions and small businesses.  Additionally, this solution works to connect business owners, including those in the informal economy, and all Dine' to capital markets, and in particular to the capital markets available to them on the Navajo Nation.  Lastly, programs will start with the youth, enabling them to get a head start on good financial habits and utilize them in university and beyond. 

It will begin as a local project so it will be a walk-in facility.  Financial literacy modules will be developed in conjunction with local schools and universities with scholarship potential.  Computers will make virtual participation possible.  To spread information about the project, I will utilize connections to government officials and local community leaders.

Right now my project is just an idea.  I am a facilitating brainstorming sessions with my daughter and wife.  We are keen to receive funding and mentorship to kick off our project. 

Starting off, I want to target youth members of the community to give them a solid foundation of financial knowledge.  Without this, youth can fall into debt, and without knowledge of specific Native American programs, youth will think it impossible to get a mortgage.  Moving forward, I want to make more modules focused on those in traditional sectors of the Dine' economy, such as ranching, to level their financial knowledge with those outside of the Navajo Nation.  Additionally, a module that helps participants in the informal economy, such as those who weave rugs or make jewelry, scale their business.  

The partnership potential is huge and I surmise it will include universities, public schools, Navajo Nation government, Arizona, financial institutions and small businesses. It will start at a local (town) level but will morph into a service that serves all of the Navajo Nation and all its communities.  It can then cross into other Native American communities such as the Hopi Nation.

I want to receive mentorship and start-up funding through Solve.  I believe the program goals align with Solve's goals for this project and that events can help with my connections. 

I have been working with the small business administration and my daughter from NYU.

I would like to work with the following universities: Arizona State, University of Arizona, Northern Arizona University, University of New Mexico, University of Utah, and Fort Lewis College.  I will work with these schools to get assistance with financial literacy coursework.

I would also like to work with junior colleges around the Navajo Nation and get their recommendations on financial courses content.

I will work with all small business administration offices around the Navajo Nation.