Indigenous entrepreneurship may well be the driver of social innovation

Research has shown that indigenous enterprises can improve the well-being and well-being of individuals and communities of first nations. This can reduce many of the economic and social failures experienced by indigenous peoples.

Australia has surpassed other countries with developed economies in quality and economic impact since starting the business. This includes both core entrepreneurs and native startups.

The number of Indigenous startups in Australia has grown by 30% over the last decade. Indigenous women entrepreneurs and participation in successful indigenous startups are also becoming more common.

The 500 leading indigenous corporations in Australia alone are contributing $ 1.6 billion to the Australian economy.

However, Aboriginal and Torres Strait Island residents in Australia still face incredible challenges when it comes to unemployment, self-employment and entrepreneurship. Compared to the US and Canada, Australia has a much smaller indigenous population engaged in small business.

Our research shows that Indigenous businesses may be needed for first nation communities in Australia. These businesses can create jobs for these communities and increase labor participation. This brings great benefits to the health and quality of life of Indigenous people and also has a positive impact on the Australian economy.

Read more: The Aboriginal flag is now “freely available for public use.” What does this mean from a legal point of view?

Indigenous entrepreneurship is the engine of social innovation

Entrepreneurship is a stimulus to social, economic and technological progress and can be a means of supporting the cultural foundations of indigenous peoples.

Indigenous entrepreneurs and their businesses are drivers of social innovation because they are often integrated into family, social values ​​and networks. This can help with employment opportunities and business promotion.

In our study, we found great potential for Indigenous businesses to incorporate their culture and creativity into their work and further develop the Indigenous startup sector. Which can be of great benefit to indigenous communities.

For example, Kira Birrani has expanded her grassroots painting startup and now has nine Aboriginal artists who share their creativity and culture in the local Aboriginal community in Wadon. With the help of elders and the local community, Jed Monara launched a startup in the field of glass blowing. Jeddah now exports his sculptures internationally and redistributes his income to the local community.

Read more: Australia’s agricultural sector is in dire need of more information from first nations. That’s how we get there

Indigenous entrepreneurs

Some indigenous entrepreneurs prefer to serve their local communities rather than purely financial motives. However, there are still significant obstacles and challenges that need to be overcome.

Indigenous entrepreneurship growth is still lagging behind non-indigenous entrepreneurship. Our research suggests that this may be due to barriers such as lack of business experience, education or training, racial discrimination, and lack of access to resources.

However, there are factors that can affect the successful entrepreneurship of indigenous peoples. This includes access to business mentoring and partners, higher education and entrepreneurship training. They proved to be drivers of success.

Examples of successful indigenous businesses that participate in the community and make real changes in the community include:

  • Gumatji Corporation, which provides sustainable economic development for the community through the integration of the social laws of the Yolgnu clan

  • MoneyMob Talkabout provides Indigenous communities with the best ways to manage money, leading to financial literature and basic financial skills in local communities

  • MPower helps Indigenous families meet their basic needs by integrating with Indigenous trainers and teachers

  • Maali Minjara started a regional tourism company three years ago, and today it employs 20 Aboriginal staff who help as guides.

The cultural experience of the Karrke aborigines in the Northern Territory.

How best to support indigenous enterprises:

Recent government approaches have supported new indigenous enterprises, including special training and training for indigenous startups. It has been used periodically in Australia, with little success to date. However, further action is needed.

Our study offers three main types of interventions:

1) Best Ways to Encourage Indigenous Communities to Participate in Business. This will include improving entrepreneurial and startup culture to be more inclusive for indigenous peoples

2) direct support for indigenous peoples, such as education, training and mentoring by indigenous organizations. A good example is the YARPA and iAccelerate initiative at NSW

3) development of entrepreneurial ecosystems to cover the cultural, economic and institutional needs of indigenous businesses. See, for example, a map of the proposed entrepreneurship ecosystem for indigenous businesses.

To promote indigenous entrepreneurship, we need measures to improve business education and self-employment. However, existing government policies and cooperation with indigenous networks and communities should better facilitate this.

Community involvement is essential for the growth of indigenous businesses. Indigenous entrepreneurship can be a way for communities, governments and nonprofits to address social issues such as poverty, unemployment and social injustice.

Government business initiatives working with Indigenous communities will better promote and promote Indigenous voices in business.

As a result, indigenous peoples will have a direct view of national business laws, policies and programs that implement them.

This will be of great benefit to all Australian entrepreneurs by providing inclusive networks and entrepreneurial ecosystems.

Leave a Comment