Search
Photo supplied by Reconciliation WA

Indigenous Businesses set to flourish in Western Australia

Recent years have seen a growing awareness that the keys to Indigenous advancement and development are broader than social programmes and government policy.  While these remain key enablers, increasing prosperity and the engagement of Indigenous people in the economy has become a stronger focus.

Stemming from native title agreements which began to emerge in the late 1990’s, barriers between Indigenous communities and the mining industry in particular, fell away over the negotiation table when it became apparent that Indigenous people sought much the same as all other Australians – prosperity, wellbeing, stability, employment and opportunity. 

One of the important results of this has been the emergence of the Indigenous Business Sector.  In WA, this has been propelled by the resources sector while at a national level, the Commonwealth’s Indigenous Procurement Policy has given rise to strong growth.   In 2018 the WA State Government followed suit with a State based Aboriginal Procurement Policy.

Importantly, Indigenous business has been shown to have strong utility for Indigenous people with a study commissioned in 2017 by Supply Nation showing that for every dollar of revenue gained, Indigenous business creates $4.41 of economic and social value.   

This study also illustrates that Indigenous business employs more than 30 times the proportion of Indigenous people than other businesses, create a safe place for employees, reinvest revenue into communities and, importantly, strengthen employee’s connection to culture.

While there are a number of large and mature Indigenous businesses in WA, generally speaking the sector is in its early stages.  Indeed the sector remains small with estimates of its revenue ranging from AU$2-$5 billion across the nation.  By comparison, the Maori business sector in New Zealand is estimated at US$50 billion.

Nonetheless, with an increasing understanding of the high level of utility the sector has for the prosperity and well-being of Indigenous people, and with greatly improved policy settings and initiatives from Government and Industry, Indigenous entrepreneurship is beginning to flourish.  

This won’t resolve all the issues faced by the Indigenous community, but it will provide acceleration along the pathway of prosperity and success. 

Add your comment

Accountants

2nd-Deloitte530
3rd-PwC510
4th-KPMG472
5th-RSM288
6th-BDO190
106 accountants ranked by number of accountants (including partners) in WA

Full-time in-house consultants

6th-PwC163
7th-AccentureNFP
8th↓KPMG146
9th-Velrada140
10th↑Turner & Townsend105
186 consulting firms ranked by number of full-time WA inhouse consultants

Corporate finance employees

8th-Hartleys11
9th-Regency CorporateNFP
10th↓KPMG9
11th-Macquarie Capital9
12th↑RSM8
83 corporate finance ranked by staff in corporate finance area (WA)

Insolvency professionals

6th↑BRI Ferrier Western AustraliaNFP
7th↑McGrathNicol15
8th↑EY14
9th↑KPMG12
44 insolvency practitioners ranked by number of professional staff working in insolvency (WA)

Number of Employees

Accountants

2ndDeloitte626
3rdPwC600
4thKPMG515
5thRSM402
6thBDO250

BNiQ Disclaimer

Special Report

Great for the State – Edition 4: Indigenous Development

Great for the State – Edition 4: Indigenous Development

02 July 2019

In the fourth edition of Great for the State, we analyse the impact of Reconciliation Action Plans, report on four charities targeting Aboriginal youth development, and profile six prominent Aboriginal leaders:
- Business entrepreneur Barry McGuire

RAPs elevate words into tangible deeds

RAPs elevate words into tangible deeds 

SPECIAL REPORT: Reconciliation Action Plans are used by hundreds of organisations across Australia to deliver better outcomes. Click through to our Indigenous Development feature.

Milroy maintains fight  for Australia’s children

Milroy maintains fight for Australia’s children 

SPECIAL REPORT: Helen Milroy believes courage, effort, and collaboration are needed to help heal intergenerational trauma suffered by indigenous Australians.

McGuire  business in  the bloodline

McGuire business in the bloodline 

SPECIAL REPORT: Barry McGuire says Redspear Safety’s recent emergence has been built on tailoring its offering to what customers need.

Wyatt’s old wounds still scarred

Wyatt’s old wounds still scarred 

SPECIAL REPORT: Ken Wyatt has overcome numerous challenges on the path to becoming the most powerful advocate for Aboriginal Australians.

Setting new benchmarks  for Aboriginal inclusion

Setting new benchmarks for Aboriginal inclusion 

SPECIAL REPORT: Carol Innes is heartened by the positive steps already taken towards reconciliation, despite the enormous amount of ground still to be covered.

Collard custodian of Noongar heritage

Collard custodian of Noongar heritage 

SPECIAL REPORT: Len Collard has embraced his destiny to educate a broad audience about Noongar culture and history.

Glass Jar more than half full for multi-skilled Kickett

Glass Jar more than half full for multi-skilled Kickett 

SPECIAL REPORT: Among her many talents, Glenda Kickett is drawing on her sports experience to boost school attendance rates for indigenous girls.

Charities helping  Aboriginal boys and girls

Charities helping Aboriginal boys and girls 

SPECIAL REPORT: Clontarf Foundation, The Graham (Polly) Farmer Foundation, The Girls Academy, and Glass Jar Australia.

Indigenous Businesses set to flourish in Western Australia

Indigenous Businesses set to flourish in Western Australia 

Recent years have seen a growing awareness that the keys to Indigenous advancement and development are broader than social programmes and government policy.  While these remain key enablers, increasing prosperity and the engagement of Indigenous people in the economy has become a stronger focus.<

Waart Koorling (On the move)

Waart Koorling (On the move) 

According to Reconciliation Australia there has been an increase in organisations taking real action to support reconciliation. These are encouraging trends for all Australians.

What is positive about Indigenous development

What is positive about Indigenous development 

One of the most sustained and important areas for Indigenous development through the University of Western Australia has been in education. The ongoing success of tertiary education has yielded many Indigenous scholars across a variety of professional courses.

Macmahon supports youth development

Macmahon supports youth development 

Macmahon has a long history designing traineeships and development programs for Indigenous people through our Doorn-Djil Yoordaning business.