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Strategy

The Indigenous business sector strategy

Supercharging Indigenous business start-up and growth 2018-2028

12 Feb 2018
Description

Steps taken by the Australian government, together with the state and territory governments and some corporate buyers, are already driving rapid growth in demand for Indigenous goods and services.

The Strategy has been developed in partnership with Aboriginal and Torres Strait Islander people and it will be implemented in partnership with them. To hit the ground running, the Government, with Indigenous partners, will immediately commence work to implement the actions outlined in the Strategy. In the first three years, we will:

Roll out Indigenous Business Hubs, anchored to major cities. These Hubs will be a one-stop-shop to access better business advice, support, and connections they need at any point in their business journey. We will start work in three locations.

Stand up three Project Specific Support Hubs that will provide specific support to Indigenous businesses looking to take advantage of major infrastructure or service delivery projects.

Pilot an Indigenous Entrepreneurs Capital Scheme to unlock a wider range of finance and capital products for Indigenous businesses who are looking to transition to mainstream banking.

Double the microfinance footprint across Australia to support more entrepreneurial activity and economic development in regional and remote locations, as well as support more women and youth get a start in business.

Increase funding for networks to allow them to strengthen their links with mainstream businesses, industry bodies and education providers and to better link emerging businesses to link them to key support services.

Fund support for Indigenous businesses looking to enter into joint ventures to ensure that key commercial and legal issues are well understood and negotiated.

Increase opportunities for Indigenous businesses to build stronger connections with Commonwealth buyers by funding improvements to Supply Nation’s Indigenous Business Direct and funding more Meet Commonwealth buyers events.

Invest in a digital platform that will help Indigenous businesses navigate the support system.

Invest in high quality data collection and evaluation so that we can track what works and tailor our investment.

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2018
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