The Business Development and Assistance Program is focused on providing responsive support to Indigenous businesses across the entire business life cycle—that is, preparation, start up, stabilisation, growth, maturity and exit. As a lender, IBA seeks to find a balance in supporting the social and cultural outcomes of borrowers in a manner that is sustainable and economically sound. IBA strives to assist new or existing Indigenous business to achieve self-sustainability.
IBA, in close consultation with the Australian Government, is shaping its services to better develop our customers to succeed in business.
To increase the commercial capability of Indigenous entrepreneurs throughout the business life cycle stages, we will provide a range of assistance in 2016–17, including educational workshops, business development expertise and finance for viable businesses.
The Australian Government’s Indigenous Procurement Policy has the potential to accelerate the increase and success of Indigenous business, through a target of three per cent procurement from Indigenous enterprises by 2020. IBA and its partners will play a vital role in fulfilling the supply side, in their development and assisting the controlled growth of existing businesses. IBA is gearing up its capability-building activities to assist in the achievement of this target.
As well as providing greater assistance across the business development life cycle, our frontline staff based in the regions will focus on finding, developing and supporting Indigenous entrepreneurs as they look to establish and grow businesses.