The Joint Standing Committee on Aboriginal and Torres Strait Islander Affairs (JSCATSIA) has launched an inquiry focused on enhancing the economic self-determination and opportunities for First Nations Australians.
The initiative seeks to explore training, employment, and business development opportunities while building the necessary infrastructure to foster long-term economic prosperity.
The sector currently includes over 12,500 businesses that are outpacing the revenue growth of the broader SME sector.
“Aboriginal and Torres Strait Islander businesses have been exceeding all expectations,” said Mutthi Mutthi and Wamba Wamba Senator Jana Stewart (pictured above), chair of the committee.
Stewart highlighted the significant yet often overlooked impacts these businesses have on both the First Nations communities and the broader Australian economy.
According to recent studies, these enterprises have seen dramatic increases in numbers, income, and job creation, contributing at least $4.88 billion to Australia’s economy.
The inquiry will also consider the untapped potential of leveraging Aboriginal and Torres Strait Islander intellectual property and skills.
“It is fundamentally important that we investigate the opportunities for improved training, employment, and business development to support the Aboriginal and Torres Strait Islander industry and create economic, social, and cultural benefits," Stewart said.
JSCATSIA invites submissions from interested parties by May 24, to gather diverse perspectives on fostering economic independence in First Nations communities. Further details regarding the inquiry, including terms of reference and submission guidelines, are available on the JSCATSIA website.
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