When it comes to Indigenous economic empowerment, we need less talk and more action.

"Everyone has the policies and the principles. But it's all about the implementation," says Wayne Bergmann, a prominent Indigenous business leader with more than 30 years of experience.

The bottom line according to Mr Bergmann: governments must back proven winners, Indigenous entrepreneurs who "get it done".

Indigenous businesses have consistently punched above their weight and, while the economic treadmill is turning, bureaucracy and inconsistent policy application threaten to slow momentum.

"Dealing with government advisers who've never been in the ring… they don't know what it takes to build a business from the ground up," Mr Bergmann says.

A good place to start? Setting minimum standards in Indigenous engagement, employment, and agreement-making.

"If you're negotiating Native Title agreements, there's a chasm between deals in Australia," Mr Bergmann warns.

Without proper benchmarking, one group may land a good deal, while another might get scraps from the same project, and taxpayers foot the bill for the fallout.

"The government needs to grab the bull by the horns and support sectors where Indigenous businesses already thrive, like the pastoral industry," Mr Bergmann says, noting the mounting pressure to transition vast pastoral lands into Indigenous Protected Areas and carbon projects.

While laudable, this approach must be balanced.

"Don't put all your chips in the green economy," Mr Bergmann urges.

"If we turned off the pastoral enterprises, who's going to pay the rates? The Australian public, through taxes."

The risk of an unbalanced transition is clear.

"Without building more infrastructure to generate income and support workers, there's no scale. Turning off fossil fuels too fast without alternatives in place will backfire," Mr Bergmann believes.

He's optimistic about partnerships; when they're done right.

"The biggest impact businesses can have is to be a partner, purchase our products, services that are market-competitive and high-quality. That allows us to manage the company, the land, and the legacy. That's best practice."

To create a sustainable Indigenous economy, Australia needs diverse markets – not just inn tourism or carbon credits, but across mining, pastoralism, and beyond.

"It's time to stop spinning wheels and start backing winners. Because if we don't get Indigenous people on the economic treadmill, we'll stay stuck on welfare – and we all pay for that."

Wayne Bergmann is a co-owner of the National Indigenous Times.