Indigenous businesses are at the forefront of economic prosperity in their communities, with female-led ventures playing a significant role. In 2022, the Indigenous ecosystem contributed $16.1 billion to the national economy, supporting 13,693 businesses and employing 116,795 people who received $4.2 billion in wages.
CBA supports Indigenous businesses in a number of ways including through their Indigenous Procurement and Engagement team led by Executive Manager Lucy Brereton, a proud Worimi woman, together with Simone Kenmore, a proud Yankunytjatjara woman.
"Our vision is a thriving Indigenous business sector, building intergenerational wealth and economic independence for Indigenous people and their communities," Kenmore said.
"Our approach is Indigenous-informed and led, based on listening to our customers and acting on their feedback."
Access to capital is a major challenge for many Indigenous business owners due to historical exclusion from economic participation. CBA addresses this with solutions like Stream Working Capital, which uses unpaid invoices as loan security. Impact Services, a labour hire company in Western Australia, benefits from this program, enabling operational stability and growth.
CBA's Women in Focus, led by Fiona McAuley, amplifies female perspectives and supports established and emerging leaders. The annual Women in Focus Conference ensures representation from Indigenous women, providing opportunities to connect and generate new ideas. The initiative also includes editorial coverage, research reports, and the Leading Women podcast, highlighting successes and challenges.
Notable Indigenous business leaders featured by Women in Focus include Kate Russell of Supply Nation, Amanda Healy of Kirrikin, Liandra Gaykamangu of Liandra Swim, and Tanya Denning-Orman from SBS.
Kenmore emphasizes that generational wealth creation for First Nations communities can be achieved by strengthening their businesses. After 27 years in the not-for-profit and public sectors, she joined CBA in 2022 to have a greater impact by supporting Indigenous businesses.
"The social impact of our Indigenous businesses is broad, with communities benefiting directly," she said.
The Indigenous Procurement Policy aims to increase contracts awarded to Indigenous-owned businesses, driving growth in government and corporate supplier diversity targets. CBA's Indigenous Procurement and Engagement team supports this initiative. An example is Yaala Sparkling, a native botanical-infused drinks business founded by Wiradjuri woman Tara Croker and her mother, Mel. CBA now supplies Yaala Sparkling across their cafes.
CBA's tailored financial services and culturally-appropriate engagement, including the Indigenous Business Concierge and specialized programs for Indigenous women, help customers thrive. Partnering with organizations like Supply Nation, CBA launched the Indigenous Business Education Series in June to strengthen business capabilities for a sustainable sector.
"Giving back to the Indigenous business sector is crucial," Kenmore said. "These are some of the best businesses in Australia; they just so happen to be Indigenous businesses."