Indigenous-owned businesses in Australia are generating $42.6 billion in social value annually through their operations, according to a new national report released Monday by Supply Nation.

The Sleeping Giant Rises report provides detailed evidence of the economic and social impact of Indigenous businesses across the country. It concludes that for every dollar in revenue generated, Indigenous businesses return $3.66 in measurable social and economic value, with benefits reaching deep into communities, households and future generations.

The report was officially launched Monday morning at a breakfast event hosted by Business Sydney on Gadigal Land. The event began with a Welcome to Country delivered by Aunty Joan Bell, followed by an address from David Harris MP, New South Wales Minister for Aboriginal Affairs and Treaty. Supply Nation CEO and proud Awabakal woman Kate Russell formally presented the report's findings, joined by a panel of speakers including Jason Ardler PSM, Jennifer Mar Young, Joshua Gilbert, and Monica Barone.

"This report confirms what many in our communities already know," said Ms Russell.

"Indigenous businesses are not only creating jobs and building wealth, they are contributing to the wellbeing of families and communities in ways that align with Culture, Country and identity."

The study, led by Think Impact, is based on surveys of 147 Indigenous business owners, supported by interviews and a detailed validation process. It uses a Social Return on Revenue model to assess value creation across three stakeholder groups: Indigenous business owners, their employees and members of their households.

This value is experienced through outcomes such as improved mental health, financial stability, cultural pride, control over life decisions and increased aspirations. Importantly, the findings exclude the effects of philanthropic programs or government subsidies, focusing solely on the results generated through business activity.

The research estimates that 16 per cent of the Indigenous population in Australia is directly connected to the Indigenous business sector. This includes more than 29,000 business owners, around 65,700 Indigenous employees and approximately 61,300 people living in the households of business owners. These figures are based on ABS population data and survey responses.

Among business owners surveyed, 86 per cent reported that they had more control over their lives as a result of owning a business. Ninety-five percent said they felt prouder of who they are, while 89 per cent said business ownership allowed them to express their culture more fully. These themes were also reflected in responses about household wellbeing, with 77 per cent of owners agreeing they felt more positive about their family's future.

The report calculates that business owners experience around $14.9 billion in social value each year. Indigenous employees benefit from approximately $16.2 billion, and household members experience a further $11.3 billion. The most significant contributor to these figures was a category defined as "expanded aspirations," which accounted for the majority of value across all groups.

Case studies throughout the report illustrate these outcomes. Bundjalung woman Jenni Walke, founder of Elephant in the Room Consulting, left the corporate world to establish a business grounded in cultural identity.

"It is the best way for us to maintain our connection to Community and Culture and still be successful," she said. Her consultancy integrates cultural practice into business strategy, using traditional weaving as a tool in workshops and stakeholder sessions. "It allows me to share Culture in a meaningful and grounded way, while helping others experience deeper connection and clarity in their own work."

Ms Walke's business has received numerous accolades, including the Indigenous Exporter of the Year at Supply Nation's 2024 Supplier Diversity Awards. She has also been recognised for her podcast, leadership and consulting achievements through the ROAR Awards and the Women Changing the World Awards. She told researchers: "When we design our businesses with intention, when we show up as our full selves, we don't just build successful businesses. We create impact."

Another example featured in the report is Blake Allen, a Wiradjuri and Weilwan man who founded BRC Cladding in 2013. His company is now Australia's largest Aboriginal-owned roofing business and was the first Indigenous business in the sector to deliver a project valued over $3 million in Sydney. Allen describes the growth of the business as deeply connected to his motivation to support his community.

"I have now seen the life that my son lives, which I'm extremely grateful for, and I just want more mob to be able to break generational struggles," he said.

Mr Allen described hiring a skilled Indigenous man who had struggled to find employment despite having trade qualifications.

"We knew he had the skill set, so we put him on as a skilled labourer. Now he drives young mob to sites and trains them up as labourers." That employee now has a work vehicle, fuel card, is renting his own home and is saving to buy his first property.

Despite BRC Cladding's success, Mr Allen said industry resistance to Indigenous businesses acting as lead contractors remains a challenge.

"We can't keep doing the work and not getting the opportunity," he said. "I just need to be given a fair opportunity to show what we can do on the biggest stage, because that's where we deserve to be and where we can make the biggest impact in Community."

The study found that Indigenous businesses also make significant contributions to national policy goals. Seventy-one per cent of business owners reported that young people in their families were more likely to complete Year 12 because of their business. Sixty-nine per cent said their children were more likely to undertake further education or training. Sixty-three per cent believed their Indigenous employees were more likely to own their own home, and 74 per cent said those employees were better able to manage their physical health due to secure employment.

These contributions directly align with several Closing the Gap targets in education, employment, health and housing. The report links each outcome to specific targets, presenting a structured case for including Indigenous businesses in the design and delivery of national programs.

In addition to value created for owners, employees and families, the report also estimates that Indigenous businesses contribute around $192 million annually in financial and in-kind support to community initiatives. This includes mentoring, scholarships, donations and sponsorships of local sporting clubs and cultural programs. Seventy percent of businesses surveyed said they regularly contribute to these types of initiatives.

The report concludes with a series of recommendations for government agencies, corporates and investors. These include increasing investment in Indigenous-led funding models, revising procurement policies to reduce systemic barriers and involving Indigenous businesses in the development of Closing the Gap strategies. The report also stresses the importance of maintaining majority Indigenous ownership in any investment partnership, noting that 51 percent Indigenous ownership is not only a policy threshold but a cultural imperative for many businesses.

Ms Russell said the findings reflect not just economic outcomes but the lived reality of many Indigenous entrepreneurs.

"The value Indigenous businesses create is measurable, widespread and deeply connected to the wellbeing of our communities," she said.

The Sleeping Giant Rises report is available for download at supplynation.org.au/resources/reports.