Despite increasingly contributing to the Australian economy, First Nations business have gone largely unnoticed by past governments, according to the chair of a federal parliamentary committee, Indigenous senator Jana Stewart.

The Mutthi Mutthi and Wamba Wamba woman, who is chairing the Joint Standing Committee on Aboriginal and Torres Strait Islander Affairs, held an open hearing in Perth on Monday into improving the economic prosperity for First Nations Australians.

The Inquiry into economic self-determination and opportunities for First Nations Australians comes after the release of the Murru Waaruu economic outcomes report, which called for a critical shift in public policy to effectively support the economic empowerment of Indigenous Australians.

Speaking exclusively to National Indigenous Times, Senator Stewart highlighted evidence from the inquiries that showed Indigenous-led businesses were 100 times more likely to employ First Nations people, which in turn provides the best opportunity for culturally safe employment.

"The contribution is overwhelmingly positive, not just to the organisation, but you're also more likely to recruit more Aboriginal people; they add value to the organisation," Senator Stewart said.

"If you do the work early, they're [the business is] not going to get held up anywhere along the line, because you've done the work, you build the relationships, you build the trust. You're doing the right thing by mob."

Senator Stewart also countered the narrative around work ethic, arguing instead that the retention rate for Indigenous businesses was high because of a culture of safety in Indigenous-led workplaces.

"There's this kind of narrative out there about us, you know, not wanting to work. But actually, the opposite is true," she said.

Her government has put a large focus on jobs, with the Prime Minister using his speech at the Garma festival to promote Indigenous economic development, especially new climate and industry policies designed to leverage benefits for remote communities during Australia's clean energy transition.

While acknowledging the vital work around social and welfare assistance for First Nations communities, Senator Stewart said for her, one of the spaces that remains underdone is the economic one.

"It really is a big opportunity, in my mind, to really shift the narrative about what Aboriginal people contribute to our nation," she said.

She said the hearings allowed MPs to hear about the "impact" on both Indigenous businesses, as well as other Aboriginal businesses they get their suppliers from.

Research from Dilin Duwa, Woi Wurrung for "Everlasting Flow," found the "Indigenous ecosystem" makes an important contribution to the Australian economy.

It saw 13,693 active and alive (trading) businesses and corporations in 2022, which generated $16.1 billion in revenue, employing 116,795 people, and paying $4.2 billion in wages.

The senator for Victoria said these numbers were "no small feat," before noting people in the community had expressed a belief that the "closing the gap" narrative was deficit-focussed, without commenting on First Nations' economic contribution.

"Generally speaking, the kind of stereotypes are about 'poor us', rather than our strengths," she said.

"The fact that we've been able to have such an impact in such a small amount of time, when you think about the structural lockout, because it's not a disadvantage; we've had a lockout of any kind of economic position in our country."

Furthermore, she said businesses thrived when they were culturally safe.

"It is to your economic detriment that your workplace isn't inclusive," she said. "It's not just a kind of woke lefty thing to do. It's actually really important for your company's bottom line."

Across the hearings, the senator said people and organisations have wanted to talk about the historical context; about how First Nations ways of doing things worked, and were successful, but also how they had been locked out of the economy since colonisation.

"We had our own economies as First Nations People pre colonisation; not just internally here, but we had economies across the ocean," she noted.

In Perth, the Karlka Nyiyaparli Aboriginal Corporation (KNAC), Jamukurnu Yapalikurnu Aboriginal Corporation (JYAC) and Puntukurnu Aboriginal Medical Service (PAMS), submitted that they have worked together to co-design a precinct structure for East Newman in the Pilbara.

Part of their submission stated that "Indigenous ways of doing must be embedded in planning practices, and the way implementation is conceptualised," and argued the Project planning timelines should be "flexible to accommodate the time needed to work with Indigenous communities and conduct effective stakeholder engagement".

For the Perth hearings, Senator Stewart said she heard from a wide range of groups, with the vibe being that in some ways, the state was forging ahead in the business landscape.

"It feels like they are kind of a bit further ahead in WA when it comes to their kind of business mindset and thinking," she said.

"And potentially that's because of the opportunities that are available in WA as opposed to maybe other parts of the country."

As the hearings continue, Senator Stewart said as chair, one of the things she was interested about was "what can the Commonwealth do?".

With Indigenous businesses thriving, it is an outcome many across the board are eagerly anticipating.