The Victorian government has announced the Victorian Aboriginal Business Investment Program to help upskill and grow First Nations businesses.

The announcement by Employment Minister Vicki Ward at Djaara's DUMAWUL Cultural Tourism and Creative Arts Hub in Bendigo on Thursday will be part of a $10 million package to support First Nations businesses by the state government.

From Monday, Aboriginal owned and operated businesses working in regional Victoria will be able to apply for funding to help support their business, with grants of up to $10,000 available for businesses to use for training and accreditation, mentorship, networking, marketing, and access to expert advisory services.

Furthermore, they can also apply for grants of up to $100,000 to purchase new assets, help plan and deliver business cases, and conduct study and specialist training.

Koori Caucus Chair Jason Mifsud said to close the economic gap between Indigenous and non-Indigenous people, "we will see more Aboriginal people moving from welfare to wages, and from wages to wealth".

This shift will bring significant economic benefits back into the whole Victorian economy," Mr Mifsud said.

The $10 million package will include support for seven Traditional Owner Corporations across regional Victoria, helping to establish economic hubs where Indigenous-led businesses can connect, showcase their work, and thrive.

Dja Dja Wurrung Clans Aboriginal Corporation Group chief executive Rodney Carter said hubs such as DUMAWUL "support Traditional Owners to build sustainable businesses and re-establish thriving economies that benefit all Victorians".

Minister Ward said the program is a "game changer".

"By working with local First Nations communities the hubs can help close the economic gap between aboriginal and non-aboriginal Victorians and help owners expand their businesses, she said.

Premier and Member for Bendigo East Jacinta Allan, agreed.

"Aboriginal businesses deliver great outcomes for Victoria – through this program we are creating hubs like this one in Bendigo and investing in a more sustainable future for First Nations businesses," Ms Allan said.

Applications for the Victorian Aboriginal Business Investment Program will open on Monday 22 July 2024 and close on Friday 6 September 2024.

Applications and more information can be found online.