Indigenous Business Australia is an important organization that supports the emergence and development of such indigenous industries. This is a Commonwealth initiative to enhance indigenous self-management and economic self-sufficiency.

The IBA is headed up by Joseph Elu and is already commercial and profitable. It was set up in 1989 and invests in mature businesses. It owns resorts such as the Gagudju Crocodile Holiday Inn in Kakadu National Park and the Monkey Mia Dolphin Resort in Western Australia.

Through these enterprises the IBA is able to employ and train indigenous Australians in the tourism industry.
A testament to the investment acumen of IBA is that after an initial Government investment, IBA is a self-funding organisation. Crucially it is also growing its capital base through careful and strategic investments.

Our hosts here today, the Indigenous Business Chamber of Australia, are also seeking to address the lack of indigenous tourism operators and a skilled labour pool.

The Chamber’s primary role is to become the peak national body for the indigenous business community. It will provide indigenous people with a support network and develop opportunities to create businesses.

Of course no business is successful unless it is has the right staff.

And it’s not easy recruiting and training personnel, particularly in remote areas of Australia. Mentoring is as important to a successful indigenous tourism business model as it is to any commercial venture and the more mature local operators are far better placed to work with indigenous communities than an overseas multinational. As I said earlier, all businesses must be profitable but profitability is directly linked to demand.

Luckily for us, the world craves Australian indigenous culture.

It’s a hot product.