Strategies for actively engaging with Indigenous businesses

Abstract

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. Supplier diversity has significant and measurable long-term business benefits. Diversity within supply chains can not only bring new ideas and solutions to an organisation, but also boost competitiveness and market growth. But it goes further than these commercial benefits to encompass social value; the ability to reduce socio-economic inequality and create stronger, more stable communities. In this case study, the authors demonstrate key strategies for actively engaging with Indigenous businesses resulting in an increased spend of A$83.9 million compared to A$54.9 million for the same period last year, representing a 54% year-on-year increase. These key strategies are: (1) Identify verified Indigenous businesses; (2) Align objectives and requirements with key stakeholders; (3) Start small and increase scope with capability; and (4) Make it easy for Indigenous businesses to engage with organisations. Realising the potential of Indigenous businesses will create a new generation of entrepreneurs who grow their own business knowledge, networks, assets and wealth, removing barriers to employment for future generations and helping create a positive cycle of social and economic empowerment. Case study: Indigenous Beverages Australia is a unique company run and owned by a Goreng Goreng heritage family. Initially supplying a range of quality natural spring water, beverage and specialty coffee products, the company is now one of Ventia’s largest Supply Nation-certified suppliers providing products including coffee cups, coffee beans and isotonic drinks throughout Australia.