Project overview

This project compares the level of financial and commercial literacy of Aboriginal and Torres Strait Islander (herein, “Indigenous”) and non-Indigenous small business owners by analysing the financial performance of these business models. It will contrast the support and resources available to Aboriginal and Torres Strait Islander small business owners in independent and franchised businesses in urban, regional and remote areas of Australia. The significance of this research lies in the historical disadvantage experienced by Australia's First Peoples  seeking self-employment.

EMPOWERING INDIGENOUS BUSINESSES

With an ARC Discovery Grant to support them, Griffith Business School researchers set out to learn how Indigenous business owners become economically sustainable in running successful small businesses, and translate it into best practices. ‘Empowering Indigenous businesses through improved financial literacy’ aims to compare the level of financial and commercial literacy of Indigenous and non-Indigenous small business owners. It will accomplish this by analysing the financial performance and contrasting the support and resources available to Indigenous and non-Indigenous business owners, in independent and franchised businesses that are in urban, regional and remote areas of Australia.

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Overview

This project provides a foundation for increasing the economic independence of Aboriginal and Torres Strait Islander entrepreneurs through investigating the impact of financial and commercial literacy levels on small business performance, to identify current constraints and future approaches to boosting economic development opportunities in urban, regional and remote areas of Australia.

Approach to the research

Our research is both innovative and significant as it is the first to adopt a culturally-aware approach to examining the nature and interplay of facets of financial and commercial literacy within the context of First Peoples small business ownership in Australia.

INDIGENOUS SMALL BUSINESS SURVEY

The survey is now closed.

Thank you to those who took the time to complete the survey. We appreciate it, as the information provided will give us valuable insights to make recommendations to improve the financial health and success of Indigenous small businesses and corporations. The feedback we received will also be used to provide Indigenous business with a greater voice at the local, regional and national levels.

The results from the survey will be used to assist in informing the final phase of the research and the publication of the research findings.

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