Indigenous businesses are continuing to contribute to the economic empowerment of First Nations people and communities, achieving a milestone $10 billion in Commonwealth contracts over nearly a decade.
The Indigenous Procurement Policy (IPP) has played a key role in supporting the growth of the Indigenous business sector, significantly increasing the Commonwealth’s purchasing from First Nations businesses since its introduction.
Indigenous businesses have become an important delivery partner in Commonwealth Government projects, with more than 71,000 contracts awarded to over 4,100 Indigenous businesses since 2015.
Through the growth of the Indigenous business sector there are now enterprises established across a broad range of industries, including construction, management and professional services, clothing production, safety equipment, information and communications technology, recruitment, and legal and financial services.
The success of these businesses is providing greater pathways to economic development and contributing to Closing the Gap by creating opportunities to employ, train and mentor First Nations people, while creating and modelling culturally safe, respectful, and inclusive workplaces.
The Albanese Labor Government is committed to increasing opportunities for First Nations businesses and recently held consultations on how to strengthen the Indigenous Procurement Policy.
The Government continues to work to identify how best to support First Nations businesses and ensure benefits flow on as intended.
Quotes attributable to Minister for Indigenous Australians, Senator the Hon Malarndirri McCarthy:
“$10 billion in Commonwealth contracts over nearly a decade is a significant milestone achieved by the First Nations business sector.
“Indigenous businesses are a powerful vehicle for economic empowerment and self-determination. Through business, First Nations people can provide for their families and contribute to the economic development and well-being of their communities.
“That’s why the Albanese Government is committed to ensuring the Indigenous Procurement Policy continues to create economic and employment opportunities for First Nations businesses and the people and communities they support.
“I am heartened by the entrepreneurial spirit of the Indigenous business sector. It is a testament to the resilience and strength of First Nations people and their desire to flourish and create their own destiny – on their own terms. The Albanese Government remains committed to fostering and nurturing these aspirations.”