A stronger future: First Nations economic empowerment is not just smart policy, it’s smart economics
Economic policies – including employment programs, business support and procurement policies – are being developed for Aboriginal and Torres Strait Islander communities without their substantive participation, according to a new report - Informing a Partnership on Aboriginal and Torres Strait Islander Economic Development.
The Coalition of Peaks’ report, based on input from over 200 organisations, found that governments' reluctance to properly engage in genuine partnership has continued to drive unemployment, disadvantage Aboriginal and Torres Strait Islander businesses, and leave young people without clear pathways to economic security.
The key findings highlight significant shortcomings in current approaches and the need for a new path forward that centres solutions led by Aboriginal community-controlled organisations (ACCOs).
The report will shape the First Nations Economic Partnership between the Australian Government, ACCOs, the Coalition of Peaks, and other representatives. The partnership was announced by Prime Minister Anthony Albanese at the 2024 Garma Festival.
It calls for greater community control, stronger support for Aboriginal and Torres Strait Islander businesses, and reforms to employment programs to make them culturally safe and effective. A key takeaway from the engagements is that economic empowerment extends beyond jobs – it is about self-determination.
Lead Convenor of the Coalition of Peaks, Pat Turner AM, said to accelerate economic development and wealth creation we must have the right building blocks in place.
“Aboriginal and Torres Strait Islander economic development is not separate from Australia’s economy, it strengthens it. From land and water management to cultural tourism and small business innovation, our economic contributions create jobs, drive investment, and generate new industries that benefit all Australians,” Ms Turner said.
"This new partnership is a turning point. It is a recognition that Aboriginal and Torres Strait Islander people must have control over our economic futures.”
The engagement process included six themed online workshops with approximately 140 participants, nine one-on-one sessions with Aboriginal and Torres Strait Islander organisations, an online survey with 99 responses (70 per cent identifying as Aboriginal and/or Torres Strait Islander), and 12 written submissions.
The report recommends the partnership between the Australian Government and the Coalition of Peaks focus on ACCO-led solutions and initiatives that implement Closing the Gap’s four Priority Reforms including:
Strengthening representation through formal partnerships and shared decision-making
Expanding economic opportunities within Aboriginal community-controlled organisations and supporting the development of new local economies
Reforming employment services to better support Aboriginal and Torres Strait Islander job-seekers
Increasing support for Aboriginal and Torres Strait Islander businesses and improving access to procurement opportunities
Enhancing access to data to create a clearer picture of economic participation and development
Read the report here.