Indigenous Business Development Program

The Indigenous Business Development Program (IBDP) is a $600K per annum program to assist Indigenous people to enter commercial businesses or expand existing businesses that will create employment and/or wealth creation opportunities, and help to close the economic gap between non-Indigenous and Indigenous Territorians.

It is a flexible funding program that meets Indigenous business need and is based on sound commercial practice.

The program supports individually owned business or the formation of partnerships and joint ventures between Indigenous organisations and other corporate entities.

If you or your community has a business idea we can provide you with information about funding sources, arrange for assistance from across all levels of government, help ascertain viability, provide support and training, and follow up on your project.

Indigenous people involved in mustering, tourism and art are among those that have benefited from the program. Since the program’s inception in 2005 it has assisted over 148 Indigenous businesses and organisations across the Territory with over $2.8 million in funding.

Funding has been allocated to business and organisations for goods and services including construction, office, retail and cleaning equipment as well business development assistance, website and marketing support. Funding has also been provided for professional or personal development for Indigenous business owners and /or staff including training and accreditation programs. Read about successful Indigenous Business Development Program case studies. 

The program is supported by IED officers who provide one-on-one support and advice.

Who is the program for?

IBDP is targeted at Northern Territory Indigenous people and joint ventures where Indigenous people hold significant equity. Applicants can be:

• incorporated Indigenous organisations
• Indigenous businesses incorporated under the Corporations Act
• individuals – Indigenous persons may apply for assistance where a business has the potential to benefit from a major project or significant new business development opportunities and the individual has established an appropriate corporate structure
• a combination of the above where there is a joint venture arrangement with non-Indigenous partners that are able to demonstrate due diligence.

What can the program do for me?

Funding, and the support of a IED officer, is made available to assist in:

• business development including consultancy assistance and tangible assets such as equipment
• professional or personal development for Indigenous business owners and/or staff
• finding solutions to enable the conduct of business on collectively owned land.

Eligibility

• Applicant(s) must be a resident of the Northern Territory
• Businesses must be based and registered in the Northern Territory
• A demonstrated commitment from affected Indigenous people, and where appropriate, land councils
• Evidence of financial contributions either self funded, from government agencies or joint venture partners
• Evidence of in-kind contributions from the applicant(s).

Funding

Individual funding available is between $1000 and $30 000 per application.

For more information contact us.