Reconciliation Action Plan

You can download IBA's Reconciliation Action Plan 2007-09 or email IBA to order your own copy.

Statement of Commitment

Indigenous Business Australia (IBA) is committed to assisting Indigenous Australians achieve their aspirations for economic independence.
IBA’s Reconciliation Action Plan focuses on pathways to increase Indigenous peoples’ access to finance and commercial opportunities.
IBA promotes reconciliation through:

innovative joint venture operations and partnerships with the financial and industry sectors, state and territory governments;
the promotion of Indigenous participation in the mainstream economy through assets growth, the development of viable businesses, home ownership and creating jobs or self-employment opportunities;
collaborating and venturing with the private sector and experienced business leaders to leverage outcomes for Indigenous peoples; and
assisting other government agencies with the delivery of their outcomes for Indigenous people.

IBA’s vision is for a nation in which Indigenous Australians share equitably in commercial and economic outcomes.

To increase the number of Indigenous people successfully engaged in financial and commercial activities, through our programmes focusing on:

home ownership;
small business development, and
joint venturing with industry leaders to promote sound sustainable Indigenous investments

To develop and maintain our professional, commercial and public policy expertise
To develop our relationships with the private and public sectors for the purpose of increasing commercial opportunities for Indigenous peoples.

IBA promotes the principles of reconciliation between Indigenous and non-Indigenous Australians through its commitment to a future where all citizens have the same opportunity to participate in Australia’s economy.
IBA will continue to be a responsive and proactive organisation, striving to keep attuned to the economic needs and interests of Australia’s Indigenous people.
IBA’s approach to reconciliation is to support Indigenous Australians to participate in economic development activities that build wealth and financial well-being on the same footing as all other Australians.
IBA is committed to attracting and supporting Indigenous staff, as well as promoting culturally supportive workplaces.
IBA promotes reconciliation through our partnerships with industry and commercial sectors, as well as through our activities on industry and government joint committees and boards.
IBA considers that participation in the business sector and creating sustainable and viable business will help to improve relations and destroy old stereotyped images of Australia’s Indigenous population.

IBA actively demonstrates its commitment to reconciliation through three key areas:

IBA’s core business focuses on bringing Indigenous, industry, and government interests together, to identify commercial solutions for Indigenous economic development.
IBA provides leadership by forging new pathways and relationships with the private sector and articulates the business case for private sector engagement in Indigenous economic development.
IBA’s commitment to reconciliation is central to all our operations. We will ensure that our achievements are reported in the corporate plan and the annual report, as well as listed as regular agenda items at board and executive meetings.

IBA values its staff, clients, commercial partners and government colleagues. These relationships are central to our success. IBA will support and reward the commitment of its staff in promoting successful commercial outcomes for our Indigenous clients.

We ensure that our staff have the highest quality cultural awareness training in order to convey appropriate information to our partners.

We strive to attract and retain Indigenous staff with suitable skills, and to develop and train Indigenous staff into senior positions.
We will continue to identify and reward excellence throughout our operations and to develop and promote Indigenous events and achievements.

IBA provides home loans and business loans for Indigenous clients who IBA considers can support a loan yet they have difficulty in accessing finance from private sector financiers.

Individualised business support and mentoring are provided to clients who have a viable business idea and need some assistance to develop it into a successful business.
We also undertake innovative programmes that deliver results on the ground, like Outback Stores, innovative housing, and joint venture arrangements.
Outback Stores aims to supply Indigenous communities with well managed commercially viable stores that stock affordable, healthy products, in a market that has previously failed to adequately address this need.

Innovative housing explores ways to deliver affordable and appropriate housing in remote areas.

Our joint venture arrangements can offer flexibility that responds to Indigenous interests. For instance Ngarda Civil and Mining, a contract mining business in WA, has been a hugely successful business that has developed robust systems of financial accountability and governance. Today it has major contracts totalling $57 million with BHP and Rio Tinto.

To ensure that our products continue to meet the needs of Indigenous people, IBA uses and builds available information which can help IBA to identify and respond to specific Indigenous needs. IBA commissions its own research where necessary.

IBA will report on its progress against our reconciliation commitments. This is an integral part of IBA core business and will be integrated into our current reporting structures.

IBA will also measure its success against its reconciliation commitments through the number of industry and private sector companies and agencies that have engaged or are considering engaging with Indigenous investments and businesses.

IBA’s commercial focus positions it to participate in negotiations that have in the past, been difficult for Indigenous interests to access. As an active player, with buying power, IBA directly aligns Indigenous economic participation with reconciliation and brings the traditional power brokers in business along with it.

Many of IBA’s home loan and business loan clients progress to either fully repaying the debt and therefore owning the financial assets outright or refinancing through private sector financiers, whereas prior to IBA’s intervention the clients were unable to obtain private sector finance.

Clearly, IBA’s record of successful brokerage and engagement in the commercial sectors, including banks, is groundbreaking and profound, and goes to the heart of reconciliation between Indigenous and non-Indigenous Australians. IBA‘s role is to directly facilitate Indigenous economic participation through its core business.

IBA’s Reconciliation Action Plan reflects its commitments in the three major operational areas; Our Business; Our People; and Our Products.