The Commonwealth government has announced a new investment of $500,000 to support Indigenous business development in East Arnhem Land in the Northern Territory.

The funding will be directed to Developing East Arnhem Limited (DEAL), an independent not-for-profit organisation, to extend its business development functions in the region for an additional two years.

The funding brings the government's total commitment to $1 million over four years, following an initial $500,000 provided under the Indigenous Advancement Strategy. DEAL operates with a place-based model that focuses on building the capacity of Yolngu-owned and led businesses to drive economic growth, job creation, and meaningful Indigenous empowerment.

DEAL offers a range of services to Indigenous-owned businesses, including business planning, governance, financial and accounting support, assistance in raising capital, and ongoing mentoring. The services aim to address gaps in business support currently available to emerging or start-up Yolngu businesses in East Arnhem.

Minister for Indigenous Australians, Malarndirri McCarthy, said the investment to help bring about change in the community.

"Supporting local Yolngu-owned businesses in East Arnhem to grow and prosper will benefit the whole community and create pathways that wouldn't exist otherwise," she said.

"First Nations businesses help shape remote communities by creating jobs, fostering economic empowerment, and supporting community aspirations for economic self-determination."

Member for Lingiari Marion Scrymgour echoed the Minister's sentiments, highlighting the broader impact of Indigenous enterprises.

"Indigenous businesses make an important contribution to the Australian economy, including opportunities for employment, inter-generational wealth transfer, the sharing of Indigenous knowledge, and providing culturally sensitive services to local communities and stakeholders," she said.

DEAL say their work is guided by the aspirations of Traditional Owners for a future where Yolngu people are economically self-sufficient.

The funding is expected to enhance DEAL's ability to provide essential business development services in East Arnhem, empowering Yolngu-led businesses to shape their own futures and drive long-term positive change within their communities.