Up to $500,000 is available to support the establishment of sustainable Indigenous enterprises.

Indigenous Enterprise Development

Overview

The Indigenous Enterprise Development (IED), under the Indigenous Advancement Strategy (IAS), is available to help Indigenous entrepreneurs and organisations start or grow a sustainable business or social enterprise.

Support and funding will be tailored to the needs of enterprises and entrepreneurs by:

  • Procuring business support to help enterprises or entrepreneurs develop their business idea or early stage proposal into a business proposal that is ‘finance-ready’ or ready to launch;
  • Providing business start-up grants that will also assist businesses to access finance; and
  • Procuring business support and mentoring services to help businesses through their first year or two of operation.

 

Background

The Government has committed $25 million to remote enterprise development as part of its reforms to remote employment services under the Community Development Programme (CDP). This funding makes up a major component of the $30 million available for Indigenous Enterprise Development (IED) funding, a business-specific stream of the Indigenous Advancement Strategy’s (IAS) Jobs, Land and Economy Programme.

This funding will be made available through a non-competitive open process.

 

Objectives

The primary objective of the Indigenous Enterprise Development (IED) funding is to establish commercially-viable Indigenous enterprises. If achieved, the objective would result in the following outcomes:

  • Creation of jobs for Indigenous people;
  • Creation of Workplace Hosted Placements for remote job seekers;
  • Increased wealth of Indigenous people and communities; and
  • Improved availability of products and services in underserved regional and remote communities.

 

Funding

All organisations receiving grant funding of $500,000 (GST exclusive) or more in a single financial year from funding administered by the Indigenous Affairs Group within PM&C are required to:

  • Incorporate under Commonwealth legislation – Indigenous organisations will be required to incorporate under the Corporations (Aboriginal and Torres Strait Islander) Act 2006, with all other organisations incorporating under the Corporations Act 2001; and
  • Maintain these arrangements while they continue to receive any level of such funding.
  • Note that the grant component of your package may not total $500,000, but if you have already received other funds from PM&C, you may go over the $500,000 threshold by receiving funds by receiving Indigenous Enterprise Development funding.

 

Eligibility

Applications will be accepted from entrepreneurs and enterprises at all stages of development, from start-up to expansion. This includes:

  • Entrepreneurs with a great business idea who need support to develop their ideas into a business proposal;
  • Entrepreneurs who have done a lot of ground-work and are looking for seed/start-up capital and/or business advice to start a business;
  • Established enterprises that have identified an opportunity to expand and require finance and/or business support; and
  • Established enterprises that need business support services or mentoring to solve a specific problem or issue.

This funding is open to Applicants that meet the following eligibility criteria:

  • Applicants must be:
    • Individuals; or
    • Unincorporated entities (sole traders, community organisations, trustees of trusts, consortia, partnerships); or
    • Corporations (including Aboriginal and Torres Strait Islander Corporations).
  • The above Applicants can be for profit or not-for-profit entities.
  • If the Application is made by an individual, sole trader or partnership under an unincorporated arrangement, the Applicant(s) cannot be an undischarged bankrupt or under consideration for bankruptcy.
  • If the Application is made by an existing company or incorporated body, the incorporated bodies cannot be under notice of external administration or investigation.
  • State and territory governments are not eligible for funding.
  • The proposed enterprise must be formed under Australian law and operate within Australia including the following territories: Jervis Bay Territory, Cocos (Keeling) Islands, Christmas Island, and Norfolk Island.
  • Applicants must either:
    • Have an ABN and be registered for GST purposes; or
    • Agree that, if their Application successful, funds will only be awarded once the Applicant has an ABN and is registered for GST purposes.
  • Applicants must not have been named as non-compliant under the Workplace Gender Equality Act 2012.

 

Timing

There is no closing date for this funding. A closing date for applications may be nominated when all the funding has been allocated.

 

More Information

  • Source
  • IED Fact Sheet
  • IED FAQs
  • IED Application Kit