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  • jshaw047

Indigenous Business Growth Report Released

Indigenous businesses in Australia have the potential to create outsized benefits for Indigenous communities and the wider economy.

According to a recent report, Indigenous businesses are over 100 times more likely to hire Indigenous workers than non-Indigenous businesses. ​This not only empowers Indigenous communities but also contributes to local economies. ​Additionally, many Indigenous businesses make significant contributions to the community through pro-bono work and sponsorship of local events.

However, there is still untapped potential. While Indigenous people make up 3% of the population, they represent only 0.5% of total business owners in Australia. ​This presents an opportunity to grow the number of Indigenous businesses, especially in remote and outer regional areas.

Certain sectors, such as construction, health and social services, and tourism, have been identified as having high potential for Indigenous business growth. ​These sectors offer opportunities for Indigenous businesses to leverage their competitive advantage, meet growing demand, and contribute to the economy.

To support Indigenous business growth, there are several actions that can be taken.

Business and government can provide tailored capability building programs, facilitate access to funding, and adapt procurement processes to create opportunities for Indigenous businesses.

As individuals, we can raise awareness about the challenges faced by Indigenous businesses, offer expertise and mentorship, and advocate for initiatives that support Indigenous entrepreneurship.

​Together, we can help realise the full potential of Indigenous businesses and create a positive cycle of social and economic empowerment.

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