The Indigenous Business Sector Strategy set to supercharge Indigenous business sector

The Indigenous Business Sector Strategy set to supercharge Indigenous business sector

Indigenous Affairs Economic Development Indigenous Business Sector Strategy
Monday, 12 February 2018

Department of the Prime Minister and Cabinet

Prime Minister shakes hands with with Cr Ted Fraser Nai, Montana Ahwon and Sharee Yamashita at the Indigenous Economic Showcase on Monday 12 February 2018. Prime Minister wears blue suit, Cr Fraser wears blue suit, Ms Ahwon wears a white and black dress and Ms Yamashita wears a black dress.

Australia’s first Indigenous Business Sector Strategy, has been developed in partnership with the Indigenous business sector to support the needs of Indigenous businesses across the country.

The strategy provides a roadmap to achieve sustainable success for the rapidly growing Indigenous business sector.

Together with Indigenous partners, we have commenced work to implement the Strategy. The initial three years of the strategy will see:

  • The establishment of Indigenous Business Hubs anchored to major cities - a one-stop-shop for business advice and support.
  • A pilot Indigenous Entrepreneurs Capital Scheme to unlock a wider range of finance and capital products for Indigenous businesses who are transitioning to mainstream banking
  • Specific support for Indigenous businesses that wish to take advantage of major infrastructure or service delivery projects.
  • Doubling the microfinance footprint across Australia to support more entrepreneurial activity and economic development among young people and women, and in regional and remote locations. 

The success of the Strategy is reliant on continuing to build a strong partnership between the Government and Aboriginal and Torres Strait Islander peoples. An Indigenous Implementation Advisory Group will be established to oversee the progress of the Strategy.

The Strategy and its key themes were developed following national consultation with the sector last year.

The Strategy is available at www.pmc.gov.au/IBSS