Reproduced from Chair, Darren Godwell's LinkedIn article.
It’s Indigenous Business Month 2025 #IBM2025. Australia’s economy is seeing record Indigenous business growth. The charge is being led by Indigenous women as business creators and owners as they pursue new business opportunities at a rate faster than anyone else.
We’re also witness to an ever-growing appetite for Indigenous participation in major projects on-country from traditional owners and First Nations.
Growth sectors that overlay with Indigenous interests include large-scale renewables, carbon markets, mining (especially gold and critical minerals), infrastructure, indigenous botanicals, agriculture, and aquaculture, and contracting of government services.
This positive shift in Indigenous economic outlook prompted expansion of the role and remit of Indigenous Business Australia (IBA).
In February, the Parliament issued IBA new legislative powers to raise capital from the capital markets, investment community and the private sector.
I am proud to say, following on from this, that the Board has completed a strategic review, set new strategic priorities, appointed a new CEO, and set about partnering with Indigenous Peoples in ways that advance their economic self-sufficiency.
As more Indigenous peoples move into business, and more of our leaders focus on economic development, it is timely to share our strategy in Indigenous Business Month.
The IBA Towards 2030 Strategy directly serves our purpose: to assist and enhance Aboriginal and Torres Strait Islander self-management and economic self-sufficiency, and to build a substantial Indigenous capital base for the benefit of future generations.
We do so whilst honouring the 5,618 Indigenous clients and customers of IBA.
I extend our deepest gratitude, for it is by their hard work in repaying mortgages and business loans that 89% of IBA’s annual operating budget is funded.
Indigenous mortgage holders and business-owners are effectively self-funding our own principal economic development agency.
The refreshed plan means IBA will work directly with First Nations and Traditional Owners, to understand your economic priorities and plans for self-sufficiency. And to help you achieve those goals.
IBA will expand our engagement alongside Indigenous entrepreneurs, business owners, and First Nations entities with lead responsibilities for driving economic outcomes.
We recognise the rising role of Indigenous chambers of commerce and the growing influence of Indigenous interests in both domestic and international trade and investment.
At the heart of IBA 2030 Strategy are four strategic objectives that chart our way to 2030.
IBA will scale its ambition, mobilising between $5 to $7 billion over the next five years to advance the commercial and economic interests of Indigenous peoples.
This unprecedented commitment demands new thinking and new relationships.
To achieve this, IBA will build material working partnerships with the banking and investment sectors, appointing Capability Partners.
These partners will bring institutional expertise, experienced personnel, and networks to the table—helping IBA strengthen its own capacity, while opening-up greater access to resources for Indigenous peoples and businesses. In the same vein, IBA will expand our working relationships with the Commonwealth’s Departments of Treasury and Finance, and the Special Investment Vehicles. Collaboration across the Commonwealth public sector is important.
By doing so, we will create more certainty for investors, build trust in Indigenous-led projects, and establish a genuine pathway for mainstream capital to flow into more Indigenous economic priorities.
This is not just about accessing more money—it is about tapping into the right kind of capital.
From institutional investors to Indigenous-led funds, from superannuation fund managers to international partnerships, IBA is broadening the base of support to ensure Indigenous peoples are central players in the economy.
Capital must flow where it creates the most impact, and generates investment returns—on Country, in alignment with First Nation’s economic goals, and into Indigenous enterprises that matter most to First Nations and Indigenous entrepreneurs.
By working directly with Indigenous entrepreneurs, Traditional Owners, and Indigenous chambers of commerce, we will ensure that greater resources are deployed to projects that generate both commercial returns and Indigenous outcomes.
This includes enabling First Nations entities to take the lead in shaping economic development on their Country—whether in housing, infrastructure, renewables, or major resource projects.
IBA’s role is to ensure that Indigenous-led economic priorities are not left on the margins of the investment economy but placed firmly at the centre.
IBA will bring more capital to more of these plans and opportunities for business and economic outcomes.
This may require IBA to expand existing business solutions or, equally as likely, to develop new business products that meet the needs of Indigenous business clients.
Transformational change requires patient, long-term capital.
IBA will expand its support for home ownership, Indigenous businesses, and entrepreneurial ventures—giving them access to more of the runway to viability.
Patient capital is about more than patient money, it is about patience with process, recognising the cultural, social, and community dividends that Indigenous-led businesses deliver alongside financial outcomes.
By backing these entrepreneurs and business owners to launch, grow, and scale, IBA is building intergenerational prosperity that strengthens both families and Nations.
Taking a longer-term view of the economic goals of Indigenous Australians is a critical advantage that IBA possesses. Our First Nations charted and managed Indigenous economies on this continent in sustainable ways for tens of thousands of years.
This strategic objective will necessitate IBA working closely with independent First Nations on their plans for economic growth and economic inclusion. Building the asset base of First Nations is central to objectives for Indigenous economic sustainability.
In becoming a value-added specialist capital provider, IBA is committed to knowledge creation, market intelligence and market insights. By publishing research, policy contributions, and sector intelligence, we aim to shape a clearer understanding of the Indigenous economy and its drivers.
I believe that having regular, reliable business data and intelligence aids more efficient investment decision-making. Good quality economic data is integral to building investment and business cases. To this end, IBA will be establishing a specialist unit to collate and publish regular economic data on the size, shape, and trends of the Indigenous-led economy. This will include the appointment of IBA's first ever Chief Economist to lead this work and to build it partnerships with other entities that have significant information on the Indigenous economy.
This includes raising the visibility of Indigenous interests in international trade and investment, and ensuring global investors understand the scale of the opportunity that Indigenous-led projects represent.
By lifting confidence, transparency, and knowledge, IBA will help drive more efficient investment decisions that benefit Indigenous peoples directly.
IBA’s refreshed Strategic Plan is ambitious because ambition is what the moment demands. The Indigenous economy is growing, but it must grow on Indigenous terms—guided by the vision of First Nations peoples and Traditional Owners, supported by entrepreneurs, businesses, chambers of commerce, and strengthened by capable partners in the banking and investment community.
This strategy is not about small steps; it is about building momentum.
It recognises that prosperity is not achieved in isolation, but through material partnerships, strong relationships, and shared determination.
From families accessing their first home, to entrepreneurs scaling their businesses, to Nations driving large-scale investments on-Country, and to Indigenous enterprises stepping onto the global stage—this strategy is about ensuring that every opportunity is unlocked for Aboriginal and Torres Strait Islander peoples to build wealth, resilience, and self-sufficiency.
The journey ahead is bold, but the reward is even greater: a future where Indigenous prosperity is not an aspiration but a lived reality across Australia.
Please find one occasion in October to celebrate and support Indigenous businesses, Blak entrepreneurs, and Indigenous economic development in Indigenous Business Month.
Taunurung woman, Nicole, is a successful business and homeowner, with a lot to be proud of. But she takes the greatest pride in the values and financial independence that she inspires through generations of her family.
Nicole was determined from a young age to get on the property ladder early, to build her financial future. She achieved this at just nineteen years old, through a loan with ATSIC (which later became IBA) and bought the ex-housing commission home that she’d grown up in.
“It was small, but over the years I made improvements to it,” Nicole said. “Funny thing is – I always understood the value of owning a home. I didn’t want to pay rent and waste money that could go into my own home.”
In time, Nicole transitioned to a mainstream lender and moved to another home. Fast-forward almost forty years and one of Nicole’s three daughters, Georgia, has recently been approved for her first IBA home loan.
“I told Georgia about IBA and the value in saving to get her own place,” Nicole said. “I wanted her to have her own place too, not to waste money on rent.”
“It’s hard work and a lot of paperwork, but worth it. She’ll have her own home.”
“If Georgia had to go down a regular path, it’d be years before she had enough saved for a 20% deposit on a house. So, I kept saying to her, ‘make the enquiry at IBA’.”
Georgia and her partner, Mackenzie, have just found a home of their own with a backyard to share with their adored animals – she is the owner of three cats and wants to add to the brood with chickens and a dog.
“Sticking our sold sign onto the sale board was an amazing feeling!” Georgia said.
“I grew up with mum always having a home, and she inspired me to want the same.”
“I did rent for a while and it’s hard to save and have security when renting. I could see that the money I was paying in rent could be going into a place of my own.”
“So, I moved back to Mum’s for twelve months to squirrel my money into savings.”
While Georgia was looking for her home, Nicole was with her every step of the way and helping her go through building reports, paperwork and giving her advice on her home purchase.
“Mum has made me very aware of what I’m getting into!” Georgia laughed.
Nicole also owns and runs a successful business, Gerrbik Laundry Services. She bought it from her dad (then known as Complete Workwear Laundry Services) with an IBA business loan in 2015. We met her back then to yarn about her business journey: Poised for success - Indigenous Business Australia.
While Nicole’s business is flying now, she has faced huge challenges. Her core business is servicing the airline industry, and she says COVID-19 restrictions wiped out 95% of her business overnight. Nicole says that at times she thought she might lose her business, and her house (which had been used as collateral for the business). But managed to keep going and weather the storm.
"My connection with IBA has been a lifeline to me!" said Nicole. "They believed in me which has given me a lot more belief in myself."
Her hard work and tenacity paid off and the business revenue has since tripled from pre-Covid including a 7-year contract with an airline for their laundry service. Nicole credits the business success to her amazing team which includes three generations of family working with her, something that she is very proud of.
Georgia has also inherited her mum’s strong work ethic. She is a professional baker and part of a boutique artisan bakery, working early hours and long days. She’s not afraid of hard work.
Nicole’s impact through the generations doesn’t stop there. She’s also encouraging one of her other daughters to start preparing to apply for an IBA loan and saving for a deposit.
“It’s about sustaining yourselves through life.” Nicole said. “We need to be self-sustainable. I want to pass that on to my kids and grandkids.”
“My nine-year-old grandson already wants a house too,” she continued. “He even saved his birthday money. That’s exciting - knowing it’s passed down. That will be a legacy for our family.”
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Meet Pete and Kylie who went from aspiring homeowners to proud first homeowners. Their journey is a powerful testament to what’s possible when determination meets the right support.
Like many aspiring homeowners, Pete and Kylie began their journey with hope and uncertainty. But with the guidance of IBA Home Loan Officer Michelle, they found not only expert advice but a source of empowerment, strength, and heartfelt support.
In a deeply moving letter, Pete and Kylie shared their gratitude:
"To dearest Michelle,
It's difficult to begin to describe just how much we appreciate you and everything you did for us during this process...! But I'll try anyway!
We heard of IBA through a friend, and when we finally decided to make an inquiry, how very lucky we were to have our case handled by you, Michelle!
I lost count of the minutes and hours you spent guiding us through the process. It wasn't the time and hours which meant so much though. What really meant so much to us was the kindness, warmth, humour, and genuine empathy you so generously shared with us through the entire process. It felt like we had a guardian angel sent to us to help us change the course of our entire lives for the better. And you really have!!
This week we became proud homeowners, and without the help of IBA, the beautiful Michelle, and the lovely Ros, there’s not a chance we could ever have got into the market and stayed in the area where we so happily live.
We now have a platform to live the life of our dreams, and I want to convey just how meaningful it is to people like me, an Indigenous man with no access to generational wealth, to have this opportunity which I never thought could be possible.
From the bottom of our hearts, we thank you Michelle and IBA for being a significant positive turning point in the course of the lives of two incredibly grateful people.
You’ll eternally be a shining star in our skies!!!
Lots of love and gratitude,
Pete and Kylie."
Their story is more than a celebration of buying a home it’s a reflection of the strength of First Nations families building futures rooted in pride, place, and possibility. It’s about rewriting what’s possible for the next generation.
Their journey highlights the importance of culturally safe support systems and the transformative impact of community-driven services.
Congratulations, Pete and Kylie! Your story inspires us all and reminds us that with the right support, anything is possible.
Indigenous Business Month 2025: IBA Event Calendar
October marks Indigenous Business Month, a time to celebrate the achievements, innovation, and leadership of First Nations businesses across Australia. Throughout the month, IBA is proud to support, sponsor, and participate in a range of events that empower Indigenous enterprise and foster community connections. Here’s where you’ll find us this October:
Date: 3 - 6 October
Location: Riverside Sporting Complex, Carter Street, Tamworth, NSW 2340
About: Australia’s largest Indigenous rugby league carnival, celebrating culture and community. Hosted by Walgett Aboriginal Corporation, the event features teams across divisions, live entertainment, food stalls, and a vibrant marketplace.
IBA Involvement: Hosting a stall and event promotion.
Victorian Aboriginal Business Awards (VABA) 2025
Date: 10 October
Location: Marvel Stadium, 740 Bourke St, Docklands, VIC 3008
About: A prestigious gala dinner honouring excellence in First Nations enterprise, with awards for innovation, leadership, and collaboration.
IBA Involvement: Award sponsorship and presentation.
Aboriginal Economic Development Forum (AEDF) 2025
Date: 13 - 15 October
Location: DoubleTree by Hilton, 116 The Esplanade, Darwin, NT 0800
About: Empowering Aboriginal enterprise and leadership through keynotes, workshops, and a dynamic marketplace.
IBA Involvement: Silver sponsor, hosting a stall, and event promotion.
First Nations Business Showcase 2025
Date: 14 October
Location: Adelaide Entertainment Centre, Corner Port Rd & Adam St, Hindmarsh, SA 5007
About: Showcasing over 100 First Nations businesses, with cultural education, wellness sessions, and opportunities for procurement and partnerships.
IBA Involvement: Low-level sponsorship, hosting a stall, and event promotion.
National Housing Conference Dinner
Date: 15 October
Location: Perth Convention and Exhibition Centre, 21 Mounts Bay Rd, Perth, WA 6000
About: Australasia’s largest cross-sectoral housing event, bringing together policymakers, researchers, and industry.
IBA Involvement: Sponsored dinner attendance.
Deadly in Gippsland 2025 – Morwell
Date: 17 October
Location: Sale Memorial Hall, 82-84 Macalister St, Sale, VIC 3850
About: Celebrating First Nations business and culture with an expo, market, live entertainment, and workshops.
IBA Involvement: Low-level sponsorship to support event operations.
Date: 27 - 28 October
Location: Rydges Resort Hunter Valley, 430 Wine Country Dr, Lovedale, NSW 2325
About: Bringing together Indigenous businesses, government, and industry to showcase excellence in procurement, sustainability, and innovation.
IBA Involvement: Bronze sponsor, hosting a tradeshow stall.
World Indigenous Business Forum 2025
Date: 28 - 30 October
Location: Hyatt Place, 1 English St, Essendon Fields, VIC 3041
About: Uniting global Indigenous leaders and entrepreneurs for economic development, networking, and cultural exchange.
IBA Involvement: Tier One sponsor, exhibition stall, and panel facilitation.
National Economic Development Awards 2025
Date: 28 - 30 October
Location: Newcastle City Hall, 290 King St, Newcastle, NSW 2300
About: Featuring community stalls, live entertainment, and industry-led discussions.
IBA Involvement: Sponsorship, award presentation, and event promotion.
Indigenous Business Forum 2025
Date: 30 October
Location: Notre Dame University, 88 Guy St, Broome, WA 6725
About: Gathering Aboriginal entrepreneurs, industry leaders, and government for keynotes, performances, and a business showcase.
IBA Involvement: Bronze sponsor, event promotion.
Illawarra Indigenous Business Expo 2025
Date: 31 October
Location: Novotel Wollongong Northbeach, 14 Cliff Rd, North Wollongong, NSW 2500
About: Featuring local Aboriginal businesses, market stalls, food, art, and cultural performances.
IBA Involvement: Major partner, event promotion, and potential speaking opportunity.
Join us this Indigenous Business Month as we celebrate, connect, and empower First Nations businesses and communities across the country.
This month’s edition is full of powerful stories, exciting updates, and opportunities to connect.
We’re thrilled to welcome our new CEO, David Knights, who brings deep experience and a strong commitment to Indigenous economic empowerment.
We also celebrated Supply Nation’s Connect 2025, where over 270 Indigenous businesses, corporates, and government departments came together to build stronger partnerships. It was a fantastic showcase of the strength and potential of the Indigenous business sector.
One of the standout stories is about Leavina Reid, a proud Weilwan woman and founder of one of NSW’s largest Aboriginal community-controlled social enterprises. Her journey is inspiring and a testament to community-led change.
You’ll also find highlights from the visit of a Canadian First Nations delegation, where bold conversations around global Indigenous investment and collaboration took centre stage.
And if you know of a client or a prospective client who is interested to build their skills or explore new opportunities, let them know about these upcoming workshops:
• Procurement Workshop – 4 Sept: Hosted by Kristal Kinsela, focused on large contract opportunities
• Export Finance Workshop – 24 Sept: For First Nations businesses interested in global markets.
And if you haven’t already, subscribe to get it delivered straight to your inbox.
Indigenous Business Australia (IBA) has announced a transformation agenda in its latest corporate plan, setting the stage for a bold reimagining of its strategic priorities and capabilities over the next five years.
With the refreshed leadership of a new Chairman, several new Board members, and new CEO, Mr David Knights, IBA is set to uplift Indigenous-led economies with a transformation into a value added, specialist capital provider.
A proud descendent of the Kokoberren peoples, IBA Chairman Mr Darren Godwell said: “This year’s corporate plan pivots IBA to the economic opportunities, leveraging capital markets, and offer direct support to Indigenous economic self-sufficiency. It’s not just about growth—it’s about transformation.”
The plan emphasises the importance of advancing economic self-sufficiency with First Nations individuals, businesses, and Nations. It focusses on areas of scale and commercial outcomes, ensuring First Nations people benefit from emerging opportunities in:
IBA’s new legislative powers constitute a transformation. It expands IBA reach to new sources of capital. IBA is working closely with the Minister for Indigenous Australians and Finance Minister to determine the parameters (the ‘Rules’) under which it will be able to exercise these new powers.
IBA will commence a new function responsible for large transactions and projects that advance the commercial and economic interests of Aboriginal and Torres Strait Islander people. It will increase access for First Nations communities to access finance and major project facilitation services at scale.
The plan commits to partnering with First Nations organisations, government bodies, and private sector allies to ensure that the transformation is appropriately executed. It will involve connecting more First Nations interests with capital markets to build economic self-sufficiency, and prosperity. The plan actions strategic objectives that boosts business supports, and delivers initiatives announced in the 2025–26 Budget including:
“As the Indigenous-led economy grows, the expanded legislative powers position IBA to leverage the private sector and capital markets in innovative ways.”
You can find IBA’s current and previous plans on its website under Corporate Documents - Indigenous Business Australia.
Media contact: Katie Hoskins 0427 011 938 or katie.hoskins@iba.gov.au
About IBA
Economic independence for Aboriginal and Torres Strait Islander people is at the heart of what we do. Our programs support Indigenous Australians to buy their own homes, be successful in business, and invest in commercial ventures that provide strong financial returns. IBA was established under the Aboriginal and Torres Strait Islander Act 2005 (ATSI Act) and is a corporate Commonwealth entity for the purposes of the Public Governance, Performance and Accountability Act 2013 (PGPA Act). IBA resides in the portfolio of the Prime Minister and Cabinet and is accountable to the Australian Parliament through the Minister for Indigenous Australians, Senator the Hon Malarndirri McCarthy.
The Indigenous Business Australia (IBA) Board is pleased to announce the appointment of Mr David Knights as Chief Executive Officer, effective 22 August 2025.
David brings more than 25 years of global, multi-industry experience across banking, superannuation, management consulting, and engineering. His extensive executive leadership at National Australia Bank—spanning roles in strategy, client solutions, asset servicing, and technology modernisation—demonstrates his ability to drive transformation and deliver sustainable outcomes in complex environments. His earlier career as a management consultant with Bevington Consulting further shaped his strategic acumen and stakeholder engagement capabilities.
David is also a seasoned board director, currently serving as a Non-Executive Director of the Traditional Credit Union, and previously as Chair of NAB Nominees Ltd and the Australian Custodial Services Association. These roles reflect his deep commitment to governance and financial stewardship, particularly in contexts aligned with Indigenous economic empowerment.
IBA Chair, Mr Darren Godwell MHK FAIIA said: “On behalf of the IBA Board and staff, I’m delighted to welcome David Knights as IBA’s new Chief Executive Officer. His decades of multi-industry experience and extensive executive leadership will be crucial as IBA embarks on an exciting new era under our legislative change and seeks to expand our impact into the self-management and economic self-sufficiency of Indigenous people. David’s inclusive leadership and passion for digital innovation will be instrumental in achieving this.”
“Under David’s guidance, IBA will continue to advance the commercial and economic interests of Aboriginal and Torres Strait Islander people, contributing to the accumulation of a substantial capital asset base for the unprecedented economic development of our communities across Australia.”
Newly appointed IBA Chief Executive Officer David Knight said: “It’s an honour to lead Indigenous Business Australia at such a pivotal time. IBA’s legacy of empowering Aboriginal and Torres Strait Islander people through economic opportunity is one I deeply respect and am committed to advancing.”
“Economic self-determination is central to long-term prosperity. I’m proud to join an organisation that champions Indigenous entrepreneurship, home ownership, and investment, building a stronger future for First Nations people and for Australia.”
Media contact: Katie Hoskins 02 9207 6362 or katie.hoskins@iba.gov.au
Join us for a free online Export Finance Workshop co-hosted by IBA and Export Finance Australia.
This workshop is for First Nations business owners interested in exploring international markets and understanding the financial tools available to support global growth.
Navigating international markets and finance can be complex. That’s why we’ve partnered with Export Finance Australia. As the Australian Government’s export credit agency, Export Finance Australia supports Australian businesses that are exporting or part of an export supply chain with the finance they need to grow. It helps enable businesses take part in large international projects, invest overseas and expand into new markets.
Whether you're export-ready or just exploring, this workshop has been designed to help you:
Online workshop details
Wednesday 24 September 2025
11am - 12.30pm AEST
Register now: Upcoming workshops to start or grow your business - Indigenous Business Australia
Feel free to share with someone who might benefit.
Last week IBA, along with NAB, proudly welcomed a powerhouse Canadian First Nations delegation to Australia. The delegation, which included representatives from the National Aboriginal Capital Corporations Association (NACCA) is visiting Australia to connect with leading First Nations organisations and key government agencies, laying the foundation for transformative partnerships across borders.
IBA Chairman Darren Godwell, and other IBA staff, met with the delegation on Gadigal land and shared our vision for unlocking capital markets through new legislative powers, inspired by the Canadian model. Their experience is a game-changer for how we source and invest capital.
The visit included hosting the delegation for a cultural cruise on the Tribal Warrior which showcased the living culture and history of the Eora people.
International connections like these are vital for growth and learning, sparking bold conversations around global Indigenous investment and collaboration.
Want to grow your Indigenous business? Learn how to pitch for government and corporate contracts
Join us for a free online Procurement Workshop to learn how to access real opportunities through government and corporate contracts. This workshop is designed to help you build on your knowledge and become more confident in pitching for large contracts.
Why this matters
Procurement is simply the term governments and larger companies use for buying goods and services. That could mean anything from catering and construction to graphic design, cleaning, or consulting.
Since 2015, the IPP has performed well against these KPIs, generating over $9.5 billion in contracting opportunities for Indigenous businesses. This has involved over 64,000 contracts awarded to more than 3,900 Indigenous businesses. (www.niaa.gov.au)
State governments and private companies also have similar programs. Often, as part of their Reconciliation Action Plans (RAPs) - these organisations have targets to buy from Indigenous businesses.
But the process can be tricky. This workshop is here to help you understand the procurement process and take the next step.
This workshop can help you understand:
Meet Kristal Kinsela
The workshop will be led by Kristal Kinsela, a proud Aboriginal woman from the Jawoyn and Wiradjuri nations. Kristal is a successful businesswoman who has worked with big companies and all levels of government. She’s passionate about helping Indigenous businesses grow and succeed.
Online workshop details
Thursday 4 September 2025
Register now: iba.gov.au/business/business-skills-workshops
Don’t miss this chance to learn how to grow your business and access new opportunities. Whether you’re just starting out or ready to take things to the next level, this workshop is for you. Feel free to share this with someone you know who might be interested in attending.
