The burgeoning Indigenous business sector is primed for a fresh boost after corporate Australia set new targets to source more products and services from Aboriginal and Torres Strait Islander led suppliers.
Announced today as part of “Raising the Bar” – a joint initiative of the Business Council of Australia and certified Indigenous business advocate Supply Nation – signatories to the new voluntary targets commit to direct at least 3 per cent of annual “influenceable” supply chain spend towards Indigenous suppliers, by 2024.
The initiative, which has already attracted 16 signatories that will collectively spend more than $3 billion with Indigenous suppliers over five years, will have a “snow-ball effect” according to Supply Nation chief Laura Berry, and accelerate the rapid growth kick-started by the 2015 introduction of mandatory procurement targets for federal government departments.
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