3 minute read
INVIGORATE BUILD & MAINTAIN
BY GEORGIE DESAILLY
Keeping our Regional Indigenous Sector Strong.
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Invigorate, build and maintain.
These are the three words driving this year’s Indigenous Business Month, which runs annually throughout October.
Now in its seventh year, Indigenous Business Month is an initiative designed to celebrate the achievements of the Indigenous business sector and create an environment where Indigenous innovation can prosper.
The 2021 theme, Powering the Indigenous Economy, is focused on shining a light on the growing ranks of successful Indigenous businesses, with a specific focus on those located in regional areas of the nation.
Indigenous Business Month co-founder, Leesa Watego, says this year’s theme is a practical call to arms acknowledging the role local business plays in keeping the sector strong, particularly against the backdrop of a tumultuous 2021. “The Indigenous business sector is still growing and in the wake of COVID-19 we don’t want to lose the momentum, especially in those regional and remote areas,” explains Leesa.
“Therefore this year’s theme is all about encouraging local businesses to invigorate, build and maintain relationships with regional Indigenous business through investment in the sector as part of supply chains.”
As government and corporate Australia move towards a target of 3% procurement from Indigenous businesses, initiatives such as Indigenous Business Month play a significant role in assisting
DID YOU KNOW
• 2021 data from the University of Melbourne has revealed that
Indigenous businesses’ contribution to the economy has more than doubled. • Indigenous businesses are 100 times more likely to employ other Indigenous staff according to Supply Nation. • According to Supply Nation, for every $1 of revenue, certified
Indigenous suppliers generate $4.41 of social return. • According to Creative Spirits, 63% of Aboriginal Australians say that inadequate training and qualifications are a barrier to gaining employment, while 47% say they don't have a good understanding of the rules of the workplace.
to reach such targets and most importantly, create a pathway for Aboriginal and Torres Strait Islander businesses to contribute to the economy.
“A flourishing Indigenous business sector is a huge source of economic growth for both the local and broader Australian economy,” continues Leesa.
“This is especially true in remote and rural areas such as Townsville where small and micro businesses are prominent and are essential in supporting jobs and wealth creation at the local level.
“Throughout this month, we hope to start a conversation, encourage non-Indigenous businesses to support the sector and educate people on the range of benefits that come from working alongside Indigenous Australians.”
WANT TO SUPPORT AN INDIGENOUS BUSINESS?
Head on over to the following to find a list of local Indigenous businesses in your sector and area.
• Supply Nation • Buy Indigneous • Black Business Finder • Welcome to Country
Top Tips FOR SETTING A PROCUREMENT POLICY
Read other organisation policies
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online and choose what is important for you.
2
3
Know who you are buying from. Do some homework on them – do they have a good reputation, after sales support, and are reliable in delivery.
Look for ways to support Indigenous suppliers and local suppliers. They form part of your business community.
4
Be clear on how you will choose the right supplier – is it price, service, warranty, speed of delivery or a mix of these.
5 Set clear authority levels – which staff members can procure and to what levels of expense. Monitor and review those authorities periodically based on outcomes.
Source: Indigenous Business Australia
