Indigenous Business Australia is an organisation with a specific purpose. We exist to assist Aboriginal and Torres Strait Islander people achieve self-management, self-sufficiency and economic empowerment.

We have a clear vision to help build a nation where Aboriginal and Torres Strait Islander people are economically independent and an integral part of the economy. But we understand that in order to achieve this our impact needs to extend beyond pure economic outcomes through homeownership, business support and investment opportunities, and help to generate positive social and cultural impacts as well.

In 2019, IBA partnered with Indigenous evaluation expert Dr. Kevin Dolman (Eastern Arrernte) to develop an Impact Framework for the purpose of deepening the understanding of IBA’s social, economic and cultural impacts as experienced by our customers. This framework guides how we monitor, evaluate and report on the impact of our activities, but also help us adapt our products and services to maximise the positive impacts for our customers and the broader Australian community into the future.

In partnership with Dr. Dolman and Professor Sheree Cairney from the Interplay Project, IBA undertook its inaugural impact research project throughout 2020. This Impact Report aims to distill eight months of research, survey responses from 1,238 customers and 15 hours of in-depth interviews into an accessible and useful document. Every attempt has been made to ensure this report follows the guiding principles of being credible, useful, ethical and transparent, as outlined in the Productivity Commissioner's Indigenous Evaluation Strategy, as well as the Guidelines for Ethical Research in Australian Indigenous Studies as outlined by the Australian Institute of Aboriginal and Torres Strait Islander Studies.

Finally, it is important to note that like all research of this kind, the depth of our understanding and actions we should take will grow from strength to strength over time. IBA is deeply committed to undertaking this research and producing an Impact Report on a yearly basis he findings contained in this report help deepen our understanding and guide us on how to work alongside our customers to ensure that they experience positive impacts in the short, medium and long term.

The IBA 2020 Impact Report found the following impacts are being generated by the Home Ownership program:

Key impacts generated by IBA:

• Empowerment
• Financial resilience
• Well-being

Key findings:

• Having a home loan with IBA improves personal empowerment, financial resilience and well-being for Aboriginal and Torres Strait
  Islander people.
• The support offered by IBA creates both direct impacts (for the customer) and indirect impacts (for the wider community).
• IBA’s Home Ownership customers experience positive cultural impacts through a sense of personal empowerment.

The strongest impacts for Home Ownership customers are to culture, empowerment, financial resilience and well-being. These impacts are manifested through being a role model for family and community, and moving away from poverty and renting into an empowered position of financial
stability.

Key positive themes: Support and care from IBA staff help to create lasting positive impacts for customers.

Key negative themes: Red tape and uncertain expectations.

Key drivers for impact: The support and care customers experienced in their relationships with IBA is the key driver for both direct and indirect impact. This includes an increased sense of personal capability to manage personal finances, care for family, practice culture, navigate financial instability through uncertain times.

The IBA 2020 Impact Report found the following impacts are being generated by the Business Solutions program:

Key impacts generated by IBA:

• Empowerment
• Financial resilience
• Well-being

Key findings:

• When IBA support is strong, Business Solutions customers report positive personal empowerment, financial resilience and well-being impacts.
• Inversely, when IBA support is weak, Business Solutions customers report negative personal empowerment, financial resilience and well-being impacts.
• When IBA support is strong, Business Solutions customers experience significant personal growth, learn new business skills and increase their wealth.
• Low responsiveness, red tape and uncertain expectations create negative impacts for customers which can result in significant financial and personal consequences.

The strongest impacts for Business Solutions customers are significant personal growth, learning business skills, increased wealth.

Key positive themes: When an needs-focused approach is taken, customers report positive impacts. Younger females also reported high levels of IBA support.

Key negative themes: Low responsiveness, bureaucracy, red tape and uncertain expectations and when an product-focused approach is taken, customers report negative impacts.

Key drivers for impact: Both positive and negative impacts primarily relate to the experience customers have with IBA staff, positive experiences are driven from a needs-focused approach and negative experiences driven from a products-focused approach.

The IBA 2020 Impact Report found the following impacts are being generated by the Investments and Asset Management program:

Key impact drivers used by IBA:

• In the 5 years from FY16 to FY20, the total return to Indigenous co-investors was $39.9m
• Increased employment opportunities.
• Building an asset base that increases bargaining power with governments because the community can make financial contributions to community investment programs
• Construction of a $2 million building in community that is leased to Centrelink, which creates ongoing income from lease payments and social benefits.

Positive social impact

• services and relief of poverty to isolated community homelands
• construction of a youth centre, purchase of uniforms, school bus and excursions, attendance and day-care programs, centre renovations
• help constructing and operating a safe house and men’s shed
• help managing chronic health problems and buying medical equipment
• air conditioners to improve home environmental health and dust management
• assisting with food security and reducing high prices in community stores that result from structural issues like difficult remote supply.

Significant positive economic impact

• in the five years from FY 2015–16 to FY 2019–20, the total return to Indigenous co-investors was $39.9 million
• increased Indigenous employment opportunities
• building an asset base that increases bargaining power with governments because the community has funds
• constructing a $2 million building that is leased to Centrelink, which creates ongoing income from lease payments, and social benefits.

Positive cultural impact

• financial support for funerals – often large, expensive events
• cultural site protection
• language preservation resources and programs
• enabling cultural performers to attend big cultural events
• performances for tourists to share, and help conserve culture
• employment for community members, running cultural tours to share culture and pass on stories.