New project examines Arctic economic security, moral economy, and (micro) entrepreneurship

The rapidly changing Arctic is not only creating challenges for Arctic communities but also generating new opportunities for innovation, entrepreneurship, sustainable business models, and alternative pathways for regional development. At the same time, these changes raise important questions regarding social justice, cultural continuity, equitable participation, and the distribution of economic benefits among Indigenous peoples, local communities, traditional businesses, and emerging entrepreneurial actors. Understanding how different economic actors navigate these transformations is essential for building resilient, inclusive, and sustainable Arctic futures.

The new collaborative project focuses on the intersection of Arctic economic security, moral economy, and micro-entrepreneurship, investigating how different economic actors, including Indigenous (micro) entrepreneurs, traditional businesses, local micro-enterprises, and larger industries, shape the future of Arctic regions.

The project adopts a moral economy perspective to understand how economic activities are influenced not only by markets and profitability but also by values, relationships, cultural responsibilities, fairness, reciprocity, and community well-being.

“Economic security in Arctic regions depends on more than infrastructure and investment. It also depends on people, relationships, local capabilities, and the ability of communities to create and maintain economic activity under changing conditions,” says Professor Maria Elo, project lead.

A central focus of the project is the role of Indigenous and traditional businesses in maintaining cultural knowledge, local livelihoods, and sustainable relationships with Arctic environments. 

The project also examines the relationship between large-scale industries and local economic actors, exploring how industrial development, green transition investments, and resource-based economies can create opportunities while also raising questions related to participation, inclusion, and equitable distribution of benefits.

“Indigenous and local micro-entrepreneurs are important contributors to Arctic economies, but their voices and knowledge are not always equally represented in economic decision-making. This project aims to understand how (micro) entrepreneurship can support inclusion, recognition, and stronger local participation in Arctic development,” says Dr. Nafisa Yeasmin, project co-lead.

The project further explores the potential pathways toward more sustainable Arctic development. Circular approaches such as local value creation, resource efficiency, traditional knowledge utilization, and responsible production can provide new opportunities for entrepreneurs while strengthening regional resilience.

“The future of Arctic economies requires collaboration between different actors, including communities, microentrepreneurs, industries, and policymakers. Sustainable development emerges when economic activities are connected with local knowledge, social responsibility, and long-term resilience,” says Santeri Halonen, project team member.

The project will contribute to interdisciplinary research by connecting perspectives from micro-entrepreneurship studies, Arctic studies, sustainability research, Indigenous studies, economic geography, and social sciences.

Through research collaboration and knowledge exchange, the project aims to contribute to more inclusive Arctic economic futures where micro-entrepreneurship, sustainability, cultural values, and social justice are considered central elements of regional development.

More Information:

Maria Elo
Professor, University of Southern Denmark
melo@sam.sdu.dk