Indigenous businesses are succeeding in many industries – here’s how to ensure they continue

When we talk in regards to the creativity and ingenuity of Indigenous people, we frequently mention our deadly artists, athletes, and elders.

But increasingly, Indigenous business leaders are taking center stage.

This 12 months’s NAIDOC Older Man of the Year is Uncle Kim Collard, an elder of the Balladong/Wadjuk Noongar nation.

Collard founded two of Australia’s largest Indigenous-owned businesses – Kulbardi, an office space provider, and Kooya, a fleet management and payroll company.

He and his family have also made significant philanthropic contributions to Aboriginal communities, raising almost A$1.5 million through Bibbulmun Fund.

Collard is just certainly one of many examples of outstanding leaders in the thriving Indigenous business sector.

This group not only drives dollars and cents into the economy – they are role models and employers, sponsors and philanthropists, and suppliers to large corporations. They also bring vital cultural knowledge and cultural guidance.

Yet many Australians are still unaware of the size and variety of Indigenous-owned and -operated businesses.

Greater visibility for these firms—each in government statistics and directories of indigenous businesses—would do greater than showcase their diversity and excellence. It would also help them be more successful.

A thriving sector

In Australia, Indigenous entrepreneurs operate on every scale, from small sole proprietorships to large corporate enterprises.

As previously reported on The Conversation, our tests revealed that the Indigenous business sector generated greater than A$16 billion in revenue in 2022. We found that 13,693 unique businesses employed greater than 100,000 people, paying annual salaries of A$4.2 billion.

This job creation is basically vital. One of the nice advantages of this sector is that it supports such a big selection of families and households across Australia.

Previous tests found that Indigenous businesses employ Indigenous Australians more often than non-Indigenous businesses.

We operate in various industries

Indigenous businesses are often related to vital cultural services and cultural tourism. But their influence extends far beyond these areas, into industries equivalent to technology, architecture and construction, manufacturing, real estate, financial services, education, and legal services.

There are some great examples of firms integrating cultural knowledge with pioneering activities in their sectors.

Queensland based agricultural technology company Rain stick uses electricity to mimic the natural effects of lightning and grow greater crops, faster.

And the design company Nguluway Design Inc currently overseeing the design and development of the brand new University of Technology Sydney Indigenous Residential College.

But registration really helps

To help people and organisations engage with Indigenous businesses, each as customers and suppliers at scale, it can be crucial that they can find them.

It is currently impossible to declare an organization as domestic when applying for an Australian Business Number (ABN).

However, you possibly can register with other directories. These include a variety of state and territory chambers of commerce and other non-profit organizations.

The New South Wales Indigenous Chamber of Commerce (NSWICC) ​​was the primary of its kind, established in 2006. It now represents over 500 businesses across 70 different spend categories.

The Kinaway Chamber of Commerce in Victoria was established in 2010 and now has close to 300 member businesses.

Nationally, Supply Nation operates a big nonprofit directory called Indigenous Business Direct. Its goal is to connect the sourcing teams of enormous organizations with verified Indigenous businesses.

To register with Supply Nation, businesses must display that a minimum of 50% of their shares are Indigenous-owned to achieve “registered” business status, or a minimum of 51% to achieve “certified” status.

The relevant documents are verified by authorities including ASIC. Regular audits and checks are carried out to ensure these firms are still Indigenous owned and run.

Supply Nation just crossed a major boundary milestone 5,000 indigenous enterprises were registered, compared to just 13 in 2009.

Registration requires effort on the corporate’s part, however it is basically vital. Our Snapshot examination It was found that formally registered businesses account for about 70% of all revenues and jobs generated in the Indigenous business ecosystem.

All of those organizations offer business consulting, procurement advice, and assistance in finding offers.

But more importantly, registering your online business as Native in any of those directories allows corporations, nonprofits, and governments to find and connect with it, opening the door to all types of opportunities.