To get started, you need some relevant experience in your chosen industry, an idea of the products and services you will offer, and an understanding of your target market. The better developed your vocational and management skills are, the greater your likelihood of success.
Through its Business Development and Assistance Program, Indigenous Business Australia (IBA) assists eligible Indigenous Australians to establish, acquire and grow small to medium businesses, by providing business support services and business finance.
To be eligible to participate in the Business Development and Assistance Program:
- you must be over 18 years of age
- at least one applicant must be of Aboriginal and/or Torres Strait Islander descent
- at least 50 per cent of the ownership of your business must be by a person(s) of Aboriginal and/or Torres Strait Islander descent. (View our current list of Organisations confirming Aboriginal or Torres Strait Islander descent.)
- it must be evident that you do not have the capacity to meet a business consultant’s costs from your own financial resources.
If you are interested in participating in this program, please phone us and follow the prompts to discuss your business idea with one of our staff.
What assistance is available?
IBA provides eligible prospective and existing business operators with financial assistance to access expert advice, and information and guidance on business related matters. Read more about Business Support.
IBA provides business finance to eligible applicants who satisfy its lending criteria. Loans are generally provided on commercial lending terms similar to a bank, except at a discounted interested rate (subject to conditions). Read more about Business Finance.
Indigenous Entrepreneur Microenterprise Program
IBA has partnered with the National Australia Bank (NAB) to deliver the Indigenous Entrepreneur Microenterprise Program (IEMP) (external website, new window). This program provides:
- up to $20,000 microfinance (through the NAB)
- business advice, support and mentoring (through IBA)
to assist Indigenous entrepreneurs who have a sound small business idea, but limited financial resources.
IBA provides IEMP clients with business advice, support and mentoring through its national network of business consultants. This means new businesses receive the assistance they need during the crucial establishment period of their business, while forming an ongoing relationship with a major bank.
For more information
Find out more about the Business Development and Assistance Program by reading:
- the Your Business and IBA brochure (PDF 2.3MB, new window)
- our Business Ownership Good News Stories.
IBA suggests you visit business.gov.au (external website, new window) for up-to-date small business information and resources. This valuable, whole-of-government resource provides some of the information, forms and services you may need to plan, start and grow your business, including business plan templates and information on applying for an ABN.