Flipping the Narrative on Aboriginal Economic Development
When we talk about Aboriginal economic development, we too often focus on “gaps” and “obstacles” as if these were the defining features of Aboriginal economies. But what if we flipped the narrative? What if we focused on strengths - unlocking assets, harnessing knowledge, and amplifying leadership already thriving within Aboriginal communities and the business sector?
The Aboriginal business sector in Australia is one of the fastest-growing, generating an impressive $12-16 billion annually – and climbing. This growth isn’t just about numbers; it’s about self-determination, job creation, and wealth generation for individuals, families, and communities. From native botanicals to cybersecurity, Aboriginal businesses are not just taking part in the economy - they’re reshaping it. They’re creating jobs, training Aboriginal staff, and reinvesting profits back into community well-being.
So, what really drives this success?
Through my experience, here are several key factors that contribute to the growth and resilience of Aboriginal businesses:
1. Culturally Aligned Business Models
While not essential, Aboriginal businesses flourish when they operate with support from the community and local prescribed body corporates (PBC’s), and are rooted in community values and traditional knowledge. Garnering support and buy-in, whether you're an Aboriginal business or not, is crucial for sustained growth.
Example:
Tidal Moon Sea Cucumbers is a collaborative project with three Aboriginal communities: Mulgana (Shark Bay), Bayungu (Coral Bay/Exmouth), and Thalanyji (Onslow). It aims to bolster the economic sustainability of commercial fisheries within traditional language group boundaries, ultimately creating an Indigenous-led seafood industry that can reach global markets. Tidal Moon integrates Aboriginal traditions with safe industry practices, balancing commercial viability with cultural heritage and environmental stewardship. To see some of Tidal Moons operations follow this link: Tidal Moon Sea Cucumbers - YouTube
2. Genuine Partnerships
Genuine partnerships go beyond commercial transactions. Long-term collaborations that empower Aboriginal autonomy and build capacity have lasting impacts that extend far beyond any single project. Access to the right networks and culturally aligned services is critical.
Example 1:
Intract Australia Pty Ltd, a certified Indigenous-owned business, offers specialised services across construction, building maintenance, and environmental remediation nationwide. In partnership with McMahon Services, Intract provides Aboriginal employment and training opportunities while benefitting from McMahon’s project management resources and equipment. This partnership bolsters Intract’s capacity to undertake complex projects on a larger scale.
Example 2:
Wanna Mar Produce, an Aboriginal-owned fishing venture, recently secured 25 tonnes of tuna to launch its new enterprise. This joint venture between Wirangu and Kokatha entrepreneur Pauly Vandenbergh and the Stehr Group introduces Aboriginal coastal traditions to contemporary tuna production, aiming to promote Aboriginal practices, community investment, and sustainable seafood.
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3. Intentional Investment
Intentional and tailored investment is crucial for growth. More private capital - both debt and equity - is essential for scaling the sector. Government policies, like tax incentives and minimum funding allocations, create a strong foundation. But we also need banks, superannuation funds, venture capitalists, and impact investors to take a leading role with culturally safe approaches.
Example:
First Australians Capital (FAC), a national Indigenous-led fund manager, bridges the gap between investment markets and Indigenous economies by providing accessible, patient debt financing. FAC has supported over 800 Indigenous businesses, leveraging more than $70 million to scale sustainable Indigenous ventures.
4. Robust Policy Support
Policies such as the National Indigenous Procurement Policy (IPP) and State equivalents are opening doors - $1.3 billion in contracts?was awarded to Aboriginal businesses last year, and more than?$9 billion in Commonwealth contracts?to date. But governments and public thinking must shift from welfare-based policies to those that genuinely foster wealth creation, seeing Aboriginal communities and businesses as valuable economic partners.
Example:
The Aboriginal Economic Development and Business Growth Program, part of the NSW Government’s Regional Development Trust, provides up to $4 million to support Aboriginal businesses through mentoring, training, and strategic business development. This targeted program supports Aboriginal enterprises in realising their growth ambitions through non-competitive, invitation-only grants. The purpose and key objectives of the Program are to:
Opportunities on the horizon I foresee:
If we’re serious about Aboriginal economic development, we need to shift the narrative. Aboriginal businesses aren’t just participating - they’re redefining what sustainable, culturally grounded growth looks like for all of us.
Note, these are my views based on my experiences.
Del Miller.
Director C-AID Consultants
3 个月thanks Del. good read and great thinking
Designing engagement to care for Country
4 个月What do you think about an increasing opportunity for building long-term partnerships and financial investment in Healthy Country Plans which are definately Indigenous led and an opportunity for multiple partnerships supporting the one (dynamic) plan determined by those Traditiona Owners and directly benefitting those communities?
Fisheries Biologist
4 个月Excellent article Delahay which aligns with my own views and observations. The only thing I would add is to provide some real world examples pertaining to each of the success factors as well as the opportunities. Well done.