Indigenous Business Australia
Through Indigenous Business Australia (IBA), the Australian Government is providing $50 million to support Indigenous businesses through a range of services, including:
- Rapid Business Situation Assessments to determine the current impacts of the pandemic on the business including survivability, the business's eligibility to access mainstream bank and government economic stimulus opportunities, and other potential support that can be provided under the package;
- Business Support, including assistance to identify alternative revenue streams, review business operating structures and workforce management approaches; and
- Working Capital Assistance of up to $200,000 via a loan/grant package (assessed on a needs basis), consisting of:
- A capped grant component to assist with ongoing fixed costs, purchase of equipment and generating revenue;
- A loan to assist with working capital needs, with a term of up to 5 years, with no repayments for the first 12 months, and preferential interest rates; or
- A combination of the above.
The assistance is available to all Indigenous businesses impacted by COVID-19, whether they are IBA customers or not.
IBA is also providing targeted support to existing customers to support them through this period.
Visit the IBA website for more information on business support during COVID-19.
NIAA grant recipients and service providers
NIAA recognises that some services provided by funded organisations have been impacted by COVID-19.
We have adopted a pragmatic and flexible approach to ensure that funded organisations are supported and remain viable during this time and to limit the impact on organisations and Indigenous Australians.
Our aim is to support organisations to continue to deliver services to Indigenous communities where feasible and safe to do so. Where service activities need to be suspended, we aim to help organisations to return to full service delivery as soon as it becomes safe to do so.
NIAA has contacted funded organisations to talk through current grant agreements. On a case-by-case basis and where required, we will work with organisations to review and if appropriate, adjust current grant schedules.
We are also working to support organisations to maintain employment arrangements wherever possible and will discuss assistance options where there are concerns about keeping on employees.
For organisations enquiring about applying for a new grant, visit the Grants and Funding page or contact your nearest NIAA Regional Office on 1800 079 098.