Australia's Indigenous-led economy has entered a period of remarkable growth. Indigenous businesses are being established at record rates, and the fastest-growing group of new business leaders are First Nations women. This surge is a signal that inclusive economic growth and Indigenous prosperity belong on the national agenda.

Earlier this year, the Australian Parliament granted Indigenous Business Australia (IBA) new powers to accelerate Indigenous economic self-sufficiency. These powers recognise a simple truth: when Indigenous nations and entrepreneurs have the capital they need, they contribute to national productivity and prosperity at scale. In response, IBA has refreshed its strategy, reaffirming a commitment at its core - building Indigenous economic prosperity on Indigenous terms.

IBA's new 2030 Strategy has four key objectives: Raising Capital, Deploying Capital, Patient Capital, and Shaping Capital. Each reflects an essential element of what it will take for the Indigenous-led economy to flourish.

"Raising Capital" is the first major step. With its expanded mandate, IBA aims to mobilise between $5 billion and $7 billion over the next five years. That ambition is grounded in a clear opportunity: banks, investors, institutions, and capital markets are increasingly seeing Indigenous interests as partners in creating wealth. New partnerships will help IBA to direct substantial capital flows into Indigenous economic development.

Once raised, capital must move efficiently and in ways that support Indigenous priorities. This is the purpose of "Deploying Capital". Whether it is housing, infrastructure, renewables, resource projects, or Indigenous businesses ready to scale, IBA is committed to ensuring that appropriate capital reaches the right opportunities at the right time.

Indigenous Australians have stewarded economic systems on this continent for tens of thousands of years. That long-term perspective is a strategic advantage.

The third objective, "Patient Capital", recognises that strong, sustainable economies cannot, and should not, be rushed. IBA's role is to match that horizon with long-duration financial support for regional economic development. Patient capital creates certainty. It allows Indigenous enterprises and nations to build wealth that endures across generations.

The fourth pillar, "Shaping Capital", focuses on the information required to make investment decisions. Australia will benefit from a clear, reliable picture of the Indigenous-led economy; its scale, composition, and growth trajectory. Through a newly created Office of the Indigenous Economy, led by IBA's first ever Chief Economist, the unit will publish high-integrity business and economic data. This intelligence will be available to investors, policymakers, and researchers, strengthening investment decision-making.

The IBA 2030 Strategy is designed to match the scale of economic activity occurring, and projected to occur, on Indigenous lands and waters. From families buying their home to Indigenous companies entering major contracts, the opportunity is immense.

That is why IBA is calling for partnership. The organisation's strategy is about unlocking greater private sector investment. It is about ensuring that when Indigenous Australians pursue economic opportunity, whether in business, housing, energy, critical minerals, tourism, or infrastructure, they are not held back by capital constraints.

Turning Indigenous prosperity from aspiration into lived experience requires shared effort. IBA is getting ready, and with new legislative powers and a clear strategy in place, the moment to move forward has arrived. With support from investors, institutions, policymakers, and the broader public, Indigenous economic self-sufficiency is within reach, and all of Australia will benefit from its realisation.

Darren Godwell is the Chair of Indigenous Business Australia.