Indigenous businesses are significantly contributing to the Australian economy and the improved circumstances of Aboriginal and Torres Strait Islander peoples, their families and communities through social and economic empowerment. Yet a significant gap still exists between Indigenous and non-Indigenous business ownership. It is estimated that more than 31,000 new Indigenous businesses are required to close the self-employment gap. The Department of Prime Minister & Cabinet (PM&C) released the Indigenous Business Sector Strategy (the Strategy) in February 2018 to help more Aboriginal and Torres Strait Islander people build sustainable businesses that will support themselves, their families and their communities. Consultation conducted to develop the Strategy found that: • Existing government business support services do not meet the needs of Aboriginal and Torres Strait Islander people • Indigenous businesses are looking for "connected and meaningful business advice”, and • Indigenous businesses are looking for support that is timely and suitable to their needs and stage in the business “life-cycle".
Department of Industry, Innovation. (2018). Supporting Indigenous business project research report. Canberra: Commonwealth Government of Australia.