The Dilin Duwa Centre for Indigenous Business Leadership at the University of Melbourne supports a recommendation for the ongoing funding for a longitudinal study on Indigenous businesses.
Dr Michelle Evans
In July, researchers from Dilin Duwa made a submission to the Joint Standing Committee on Aboriginal and Torres Strait Islanders who were running the Inquiry into economic self-determination and opportunities for First Nations Australians.
The submission outlined the benefits for Dilin Duwa’s Snapshot research series which aims to give a detailed overview of the Indigenous business ecosystem.
Dr Michelle Evans, Director of Dilin Duwa, said the Centre welcomes the recommendation to fund this research further.
“Without an ongoing longitudinal study, there is no clear way to capture the breadth and diversity of Aboriginal and Torres Strait Islander businesses.”
“Dilin Duwa’s Snapshot research series states that registered businesses make up less than one-third of the Indigenous Business ecosystem. For the federal government to be able to make informed decisions, a study is needed to understand the sector as a whole.”
Earlier this year, the Snapshot series showed that the Indigenous ecosystem makes an important contribution to the Australian economy, with 13,693 Indigenous-owned businesses and corporations active and trading in 2021-22.
These businesses generate $16.1 billion in revenue—a figure that is similar to that generated by the Australian timber industry.
"This understanding of the sector’s importance is only possible due to the ongoing work of the Dilin Duwa Centre and its researchers. Ongoing funding for a longitudinal study will help to track the sector’s performance, identify potential headwinds and evaluate the effectiveness of support programs on business and community development".
“Our research shows that First Nations Australians are pursuing business as a vehicle for economic self-determination in encouraging numbers,” said Dr Evans.
“We’re seeing how we are becoming more economically powerful, with an increase in home ownership and the level of philanthropic money Indigenous companies and individuals are giving. We’ve got a rise of venture capitalists funds investing in Indigenous excellence.”
The Centre is optimistic that a longitudinal study can celebrate the areas of growth year-on-year while identifying the challenges Indigenous business owners continue to face.