New $7.5m funding for program building successful Indigenous businesses

The Australian Government is extending funding for an initiative that strengthens business-to-business links between Indigenous enterprises, corporate Australia and the public sector.

Minister for Indigenous Employment and Economic Development, Julie Collins, today announced that up to $7.5 million will be provided to the Australian Indigenous Minority Supplier Council (AIMSC) to continue for a further three years.

“This initiative is achieving excellent results and helping create a sustainable and prosperous Indigenous enterprise sector in Australia,” Ms Collins told the AIMSC’s Trade Expo in Sydney today.

“This renewed commitment of $7.5 million is part of the Australian Government’s $650 million Indigenous Employment Program.

“Through the IEP and the Council we will use the already considerable goodwill and momentum to link corporate and government clients with Indigenous business.”

The AIMSC was established in September 2009 and helps Indigenous-owned businesses integrate into the supply chain of private sector corporations and government agencies.

As of 31 December 2011, AIMSC had certified 124 Indigenous suppliers and had generated $22.9 million in contracts and more than $13 million in transactions between its members and suppliers.

AIMSC certified Indigenous suppliers have employed around 452 Indigenous full-time equivalent staff.

“Indigenous businesses offer a broad range of goods and services ranging from printing and graphic design to event management and catering, and building and construction," Ms Collins said.

“By supporting these businesses, companies and governments are creating real economic opportunities for Indigenous Australians and are contributing to Closing the Gap.”