Minister for Indigenous Australians
The Albanese Labor Government is continuing to invest in supporting Yolngu-led business development in the East Arnhem region of the Northern Territory.
$500,000 will be provided to independent not-for-profit Developing East Arnhem Limited (DEAL) to extend its business development function in East Arnhem for a further two years.
This doubles the Government's total investment to $1 million over four years, following an initial investment of $500,000 in Indigenous Advancement Strategy funding previously provided for this important initiative.
DEAL's place-based model enables delivery of a range of supports aimed at increasing Yolngu business contribution to job creation and Indigenous empowerment, with a focus on capacity building, development and increasing the contribution of Yolngu businesses to the economy.
Services available to First Nations businesses include business planning and strategy development, governance, finance and accounting support, assistance in raising capital, and ongoing mentoring support.
DEAL's work across East Arnhem is driven by the Traditional Owners' aspirations for a future where Yolngu people are self-sufficient.
DEAL's business support function is built from the understanding that strong, secure and sustainable Yolngu-led businesses play a critical role in ensuring that Yolngu are empowered to determine their own futures and create long term positive change for their families and communities.
This funding will address an existing gap in business support services currently available to emerging or start-up Yolngu businesses in the East Arnhem region.
Quotes attributable to the Minister for Indigenous Australians, Malarndirri McCarthy:
"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.
"First Nations businesses help shape remote communities by creating jobs, fostering economic empowerment and supporting community aspirations for economic self-determination.
"Providing business development, particularly in remote Australia, provides direct opportunities for First Nations communities to thrive."
Quotes attributable to Member for Lingiari, Marion Scrymgour:
"Indigenous businesses make an important contribution to the Australian economy. These include opportunities for employment, intergenerational wealth transfer, the sharing of Indigenous knowledge and providing culturally sensitive services to local communities and stakeholders.
"I applaud the additional funding being awarded to not-for-profit Developing East Arnhem Limited and I acknowledge the many benefits that will come from this investment in achieving the community's aspirations for self-determination, economic growth and prosperity".
