Weekend Edition: A bright future for Indigenous businesses

NAB Morning Call

Friday 9th August 2024

Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here.

Friday (Aug 9th) is the United Nations' International Day of the World's Indigenous Peoples. To celebrate, the Morning Call looks at how Australia is witnessing a growth in companies established and run by Indigenous Peoples.

NAB’s Noel Prakash says there’s been a shift from predominantly cultural and tourism related entities, to more mainstream businesses. He talks about Kooya as one example, providing fleet management and salary packing services to mineral businesses in Western Australia.

There’s the obvious opportunity for more to be done in the green space, too, from a people with a deep-rooted attachment to the earth. But what’s stopping us from having more Indigenous entrepreneurs? Noel talks about how NAB is amongst those offering more capital for start-ups, and how on a global scale even Twitter founder Jack Dorsey sees the size of the opportunity that can come from the right investment in Indigenous projects.

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