Achieving economic independence through Indigenous-operated businesses

Targeted procurement programs are one of many initiatives supporting the growth of Indigenous-operated businesses. 

These programs place Indigenous-operated businesses at the centre of community and economic independence.

When it comes to improving the social, economic and cultural wellbeing of Indigenous Australians, the role of business – particularly Indigenous-operated business – has never been more important.

In a report exploring the economic benefits of addressing Indigenous disadvantage, Deloitte Access Economics (http://www2.deloitte.com/au/en/pages/economics/articles/economic-benefits-closing-gap-in-indigenous-employment-outcomes.html) found that addressing Indigenous disadvantage would lead to substantial economic growth for all Australians. The report called for holistic engagement in addressing Indigenous disadvantage in the labour market, and sought the continued leadership of the business world to achieve this.

The most recent Closing the Gap Prime Minister’s Report (http://closingthegap.dpmc.gov.au/) shows a number of improvements have been made in health and educational indicators, including being on track to halve the gap in Year 12 attainment by 2020. However, there has been little progress in reducing the gap in employment between Indigenous and non-Indigenous Australians.

Nevertheless, there are positive signs that targeted procurement programs are supporting the growth of Indigenous-operated businesses, including:

  • Supply Nation (http://www.supplynation.org.au/) facilitates the integration of Indigenous-operated businesses into the supply chains of large public and private sector organisations, of which Deloitte is a member.

These programs provide opportunities for Indigenous-operated businesses to grow sustainably. This drives the creation of local employment opportunities which, with targeted training and support, will create an increase in the number of skilled workers. This initiative has the potential to deliver greater economic independence for Indigenous Australians and a boost to the national economy more broadly.

Importantly, Indigenous-operated businesses are in the best position to work with government and industry to co-design policies and services to ensure that the needs, wants, and desires of their communities are heard and supported.

Indigenous-operated businesses

Deloitte’s Social Impact Consulting Practice (http://www2.deloitte.com/au/en/pages/operations/solutions/social-impact-not-for-profit-consulting.html) has been working closely with Indigenous organisations in areas of self-determination and economic independence by weaving strategic thinking, leadership, funding innovation and robust governance frameworks into the fabric of organisations to set them up for continued and sustainable success.

We are passionate about Indigenous economic independence and we are looking to work with government, business and the NFP sector to co-design and deliver sustainable strategies that lead to empowerment and economic independence.

Deloitte celebrates National Reconciliation Week and has a strong vision for reconciliation. Read our Reconciliation Action Plan here.

 

Want to stay up-to-date?

Stay on trend and in the know when you sign up for our latest content

Subscribe