On 3 May 2017 the Minister for Indigenous Affairs announced an overhaul of the Government’s support for Indigenous businesses.
The Strategy is the cornerstone of the Indigenous Entrepreneurs Package, a commitment to supporting the growth and diversity of the Indigenous business sector through:
- $90 million for an Indigenous Entrepreneurs Fund;
- refocussing Indigenous Business Australia’s Indigenous Business Development and Assistance Programme; and
- developing the Indigenous Business Sector Strategy.
The Indigenous Business Sector Strategy goes to the heart of the Government’s efforts to improve the lives of Indigenous Australians and ensure they are supported to full participate in work and community.
The draft Strategy outlines a suite of proposed new initiatives to support a vibrant and thriving Indigenous business sector across Australia. It builds on the success of the Indigenous Procurement Policy to put Indigenous business at the forefront of the Australian economy.
The proposed actions draw on the ideas and solutions from the sector, and will foster more Indigenous businesses and drive growth. There is a particular focus on increasing the number of Indigenous women and youth in business, addressing the specific needs of Indigenous businesses in regional and remote Australia, and on building partnerships across governments, the corporate sector and Indigenous businesses.
Consultations on the draft Strategy were held with the Indigenous business sector in May through to July 2017. A summary of the feedback is available and the final Strategy will be considered by Government later this year.