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Iba presentation 30 september 2016
- 1. © The artwork used in this presentation, ‘Wattle’, is courtesy of Jeremy Devitt, National Aboriginal Design Agency. Your Business and IBA THE WARLU WAY Destination Pilbara 30 September 2016
- 2. INDIGENOUS BUSINESS AUSTRALIA 2 ABOUT IBA Our Vision and Approach
- 3. INDIGENOUS BUSINESS AUSTRALIA 3 IBA can assist at each stage of the business life cycle.
- 4. INDIGENOUS BUSINESS AUSTRALIA 4 Business workshops Business Info Sessions For people wanting to find out about starting a business, what it takes and how IBA can help Business Start Up workshops A one-day workshop for those who would like to refine and strengthen their business proposal prior to launching or pitching to financiers or partners Business Growth workshops For existing business operators looking to successfully grow their business by avoiding the common pitfalls
- 5. INDIGENOUS BUSINESS AUSTRALIA 5 Business development support Indigenous Procurement workshops Assists Indigenous businesses take full advantage of the Australian government’s Indigenous Procurement Policy (IPP) Business online learning An online learning course designed to assist customers develop and plan their business at their own pace, time and from anywhere with internet access Business workshops • Provided by in-house business expertise and external technical specialists • Coaching and advice tailored to assist customers achieve their goals • Business planning support, strategic growth, people management and marketing some examples of Business development support available
- 6. INDIGENOUS BUSINESS AUSTRALIA 6 Business Finance Term Loan • working capital • purchase plant and equipment • and other commercial assets. Structured to suit the needs of the business. Operating Lease Asset reliability – new assets are covered by warranties. • Helps to conserve cash in the acquisition of capital equipment • Fixed payments for the term of the lease. • Fully tax deductible payments End of term options: - return the equipment; - upgrade it; or - extend the Agreement. •
- 7. INDIGENOUS BUSINESS AUSTRALIA 7 • Are self-starters, aware of the risks and challenges of small business, client focused and good communicators. • Have a passion to succeed, a willingness to learn, management skills and experience in their industry. • Have operated a business and have experience managing money and budget, and a well developed business concept or plan. • Understand the commitment required to run a business. Small business owners stand a greater chance of being successful if they:
- 8. INDIGENOUS BUSINESS AUSTRALIA ‘I am smart enough to realise that I can’t do everything…So I’ve appointed team leaders from amongst my staff…people who can look after what’s happening on the factory floor…It’s a challenge, and it’s about getting the business set up correctly’. Nicole Stewart – a proud Taungurung woman – became a second-generation owner of Complete Workwear Laundry Services.
- 9. © The artwork used in this presentation, ‘Wattle’, is courtesy of Jeremy Devitt, National Aboriginal Design Agency. ‘There’s no doubt that if we didn’t know IBA… we would not be where we are today. But you need to bring something to the table in the first place. You need necessary skills and the drive to put the hard yards in’. - Wayne McGinness, Aboriginal Steel Art
- 10. INDIGENOUS BUSINESS AUSTRALIA 10 OUR REACH Our Regions • North East Australia • South East Australia • Central Australia • West Australia Our Service Centres • Adelaide • Alice Springs • Brisbane • Broome • Canberra • Cairns • Darwin • Grafton • Melbourne • Perth • Sydney • Townsville
- 11. INDIGENOUS BUSINESS AUSTRALIA IBA Partners 11 Program Performance & Improvement Credit Team Account Management Team Start Up & Development Team CUSTOMER Business Development & Assistance Program
- 12. INDIGENOUS BUSINESS AUSTRALIA 12 Start-Up & Development Team • Help to explore the viability of a business idea; identify areas that need development in terms of skills and the idea itself. • Leverage an established network of other government agencies, non-government organisations and industry partners to connect Indigenous businesses with complimentary services and product offerings. • Provide expert advice on how to further develop the business proposal to assist customers in applying for IBA Business Finance. • Work on how best to structure the finance needs of a business.
- 13. INDIGENOUS BUSINESS AUSTRALIA 13 Credit Team • Provide access to expert credit assessors to stress-test the financial projections and ensure a business does not take on excessive debt. • Identify approaches to mitigate risks associated with the business proposal. • Determine the level and type of debt that IBA will finance for the business. Account Management Team • Monitor and support business performance by identifying opportunities for growth and/or areas of risk that need to be managed by the owner(s) during the operation of the business.
- 14. INDIGENOUS BUSINESS AUSTRALIA 14 Program Performance & Improvement • Monitor, review and report on performance to ensure quality services are delivered to our customers. Stephan Ballangarry (third from left) is helping to create employment opportunities through his business, Tuff Yards Landscaping & Earthmoving.
- 15. INDIGENOUS BUSINESS AUSTRALIA 15 Partnerships that support Indigenous business Exploring opportunities Building capability Designing pathways Realising opportunities Sustaining and growing Safeguarding CUSTOMER Sharing intelligence Client Relationship Management Working Together Building Strong Relationships Sharing Outcomes
- 16. INDIGENOUS BUSINESS AUSTRALIA 16 iba.gov.au 1800 107 107 YOUR IBA CONTACT: Perth: Jonathan Wilson Perth: Noel Morich Broome: Audrey Viljoen
Editor's Notes
- Legislative Framework: Indigenous Business Australia (IBA) is a statutory authority of the Australian Government and is accountable to the Parliament and the Minister for Indigenous Affairs. IBA’s principal legislative basis is the Aboriginal and Torres Strait Islander (ATSI) Act 2005 which sets out its purpose, powers, functions, administrative and operational arrangements. The IBA Board is appointed by the Minister. It comprises Indigenous and non-Indigenous members with extensive and varied business expertise. Purpose: Indigenous Business Australia is established: to assist and enhance Aboriginal and Torres Strait Islander self-management and economic self-sufficiency; and to advance the commercial and economic interests of Aboriginal persons and Torres Strait Islanders by accumulating and using a substantial capital asset for the benefit of the Aboriginal and Torres Strait Islander peoples. Economic independence for Aboriginal and Torres Strait Islander peoples is at the heart of IBA’s vision and programs. There are three programs: Indigenous Home Ownership Program Provides targeted home loan products and assistance to create an entry point to home ownership for Indigenous Australians who might otherwise have trouble obtaining a housing loan from a mainstream home lender. Where there is appropriate tenure for home ownership, the program also helps Indigenous Australians in remote communities to overcome additional barriers such as higher construction costs, the absence of established residential property markets and newly created land tenure arrangements. Key program features include: a range of interest rates (Majority commencing at 4.0% that gradually increases by 0.5% each year until it reaches the IBA home loan rate.) low deposit requirement a standard loan term of up to 32 years. Investments Program Makes strategic investments in commercial enterprises and assets to create wealth, employment and other economic development opportunities for Indigenous Australians. Key program features include: identification, assessment and investment in commercially sustainable ventures; most range from $10m to $25m performance oversight creation of businesses and employment opportunities wealth creation for our Indigenous partners. And our program the: Business Development and Assistance Program (BDAP) We assist eligible Aboriginal and Torres Strait Islander peoples to start, buy, grow or exit a business. BDAP seeks to support the business development and financial assistance needs of Indigenous clients for viable businesses throughout the business lifecycle that are generally not met by the private sector.
- We understand that each stage of the lifecycle brings unique challenges. Each stage requires a different response by the business owner. IBA ‘s team of in house specialists work with clients across all stages of the lifecycle. Our Services include: capability and skills assessment; access to business resources; business and industry insights, and market intelligence. Business workshops; online courses, business development support, IBA provides commercial finance options to start, buy and grow commercially viable, businesses: business loans; and Asset Leasing.
- When you approach IBA, you need to be clear on: why you want to get into business; what business you want to be in; and how much is involved in in running a business. We can help.
- Nicole Stewart – a proud Taungurung woman – became a second-generation owner of Complete Workwear Laundry Services when she purchased the business from her father. Nicole is a quite achiever who is always on the go, managing her business and staff, overseeing operations and often seen joining her team on the floor to help out.
- Wayne McGinness and wife Lucy are the proud founders and owners of Aboriginal Steel Art. Wayne and Lucy took a leap of faith when they moved their young family away from home, extended family and Wayne’s employment as a welder in the NT to test out their idea for an arts-based business in the tourism hub of Kuranda, near Cairns. It has paid off and their business continues to go from strength to strength, with new commissions and increasing recognition from the corporate world. In addition to their success Wayne and Lucy have recently finished building a new family home in Kuranda.
- Organisational Structure: Specialised teams and expertise assisting our clients to make informed decisions along their business journey. Work collaboratively with IBA partners and clients in the support of commercially viable and sustainable businesses. Teams interconnected across Australia with representation in all regions.
- We work with clients: in identifying where they are along the business lifecycle. in reviewing the research and preparation undertaken to date. in sharing industry data and trends, when available. in understanding their individual needs and business goals. in undertaking a ‘capability and skills’ assessment. in considering the potential viability of the business project. in assessing the resources and assistance required. in developing an Action Plan for the next stage of the business journey. Start-up business Before coming to IBA, you should consider your suitability for business and undertake sufficient research on your proposal including: identifying the demand for your product and/or service; building relevant experience in the business sector; and why you think the business will be successful. Established businesses You should have up to date financial statements and a business plan, if available. Purchase of existing business You should have both of the above plus a list of what’s for sale and for how much, lease details, etc.
- Getting a loan through IBA comes with obligations including: repayments that need to be made on time, with the loan paid off within the loan term. loan terms and conditions. financial record keeping and ongoing reporting required. annual financial returns and all statutory obligations that need to be met.