The most common and most likely answer to this crossword clue is the 7 letter word PLANTER
P
L
A
N
T
E
R
Buddy explains!

The straight part
We know that "Early colonist" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case early colonist = planter.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does PLANTER mean?
PLANTER noun- One who plants something.
- A box or pot for plants, usually large and standing on the floor.
- Any of the early English settlers, given the lands of the dispossessed Irish populace during the reign of Elizabeth I.
- A machine used for planting seeds.
- The owner of a plantation.