Indigenous businesses 'very healthy' as sector grows

Indigenous business owners have been told to be poised to harness momentum and opportunities presented by Brisbane's 2032 Olympic Games and other major events. Indigenous businesses, corporate and government organisations came together on Wednesday to discuss the state of the Indigenous business sector at the Supply Nation Connect knowledge forum in Brisbane. It's "very healthy", according to the director of Dilin Duwa Centre for Indigenous Business leadership at the University of Melbourne, Michelle Evans. "You are just smashing it out of the park, " she told business leaders at the forum on Wednesday. "The Indigenous business sector is growing at the rate of 8.29 per cent year-on-year. "That's for over 10 years and in comparison to the non-Indigenous business sector which grows at about three per cent each year." Queensland First Nations Tourism Council deputy chair Cameron Costello said businesses must make the most of momentum building across governments and industry to engage with First Nations people on major projects. Mr Costello is a member of the Brisbane 2032 Olympic and Paralympic Games Legacy Committee and said businesses were in a great position to harness the opportunities the event would present. "Two key things are leadership and legacy at the moment and there's growing awareness of putting and empowering First Nations voice and seats at the table," he said. "The opportunities around 2032 and we can see the potential there ... there's momentum and excitement around that. "We're in a great position but one where we have to mobilise collectively as an industry." Supply Nation, a directory of Indigenous businesses across the country, is celebrating 15 years since its establishment. The directory holds more than 5000 Indigenous businesses. But the sector still faces challenges, such as access to capital as Aboriginal and Torres Strait Islander entrepreneurs kickstart their businesses Carol Vale co-founded her consultancy firm, Murawin, a decade ago and said after her own journey starting in business it was important to her to support others trying to do the same. "I've always tried to bring other women along - Indigenous women first and foremost - but other women too," she said. "For every five or 10 per cent that came into Murawin I could put aside into a bucket called the morning sky initiative ... I would use that to provide small grants, small loans to women businesses so they can go and start." Ms Evans said she believed the Indigenous business sector would continue to grow, and businesses would create intergenerational wealth for First Nations people. "Our people are business owners, job creators, innovators and exporters, custodians and entrepreneurs," she said. "We're going to see business people starting to hand their businesses on to the next generation, we're going to see live intergenerational wealth transfer in our community."