Opportunities for Business with Indigenous Peoples in Australia
Indigenous Business Australia (IBA), an organization that economically empowers Indigenous Australians through commercial ventures, reported that the number of Indigenous Australians interested in starting businesses through IBA increased by 30 percent this year. To raise capital to meet the growing demand for startup funds, IBA recently took a 31 percent stake in Message Stick Communications (Private), a technology, communications, and media service provider founded by Indigenous entrepreneur Michael McLeod.
Named for the Aboriginal tradition of carving and transporting messages on sticks, Message Stick Communications is majority Indigenous-owned and has had an annual growth rate of over 125 percent since 2005. The company’s clients include Johnson and Johnson (NYSE:JNJ) and KPMG (USA: Private).
Companies should take advantage of the expanding network of successful Indigenous-owned businesses in Australia, and seek partnership opportunities that enable both parties to grow.
Sources: The Australian