How to support Indigenous businesses through your workplace procurement strategy
The value in supporting Indigenous businesses through procurement strategies goes far beyond monetary means. Supply Nation’s Sleeping Giant Report about the Social Return on Investment of Indigenous businesses found that ‘Indigenous businesses are more than a means of economic independence: they enable their owners to build resilience and pride in their communities.’ With the clear economic and social impact of robust Indigenous businesses, it’s important for the wider community to play their part in supporting their growth and future resilience.
The Indigenous Business and Corporation Snapshot from the Dilin Duwa Centre for Indigenous Business Leadership at the University of Melbourne revealed statistics about the impact and growth of Indigenous businesses. In 2022, Indigenous businesses generated over $16 billion dollars, and employed more than 116,000 people, a number expected to continue growing.
Government and corporate procurement are key ways to increase Indigenous business success and in turn improve social outcomes. Whether embedded into a Reconciliation Action Plan, Indigenous Procurement Policy or ESG and corporate social responsibility, Indigenous procurement has a role to play in both government and corporate business strategies.
Ways to embed supplier diversity and Indigenous procurement into your supply chain:
Supplier diversity assessment: a thorough assessment of current suppliers and a business’ procurement strategy is an essential place to start, to look for opportunities to increase engagement with Indigenous businesses.
Engage with Supply Nation: Supply Nation is home to Australia’s largest directory of Indigenous businesses which you can use to search for relevant businesses in your location.
Preferred supplier status: give preference to Indigenous-owned businesses throughout your procurement process, where feasible and competitive.
Reporting and monitoring: this is essential to track growth and spend, and can be done through Supply Nation’s spend tracker. It’s useful to regularly report progress against targets to hold them accountable, and to monitor ongoing performance.
Continuous improvement: nothing is achieved overnight, and it’s important to identify potential barriers early on to achieving your procurement goals.
No matter your industry or business size, there are countless procurement opportunities within the workplace itself to support Indigenous businesses, as most of these are essential requirements for office operations, for example:
· Facilities management services
· Art/artefacts
· Graphic design
· Subcontractors
· Furniture
· Events/Catering
· Security
· Fire services
· Office supplies
· Office fitout
CoDesign + Sheldon assists government and corporate clients to design and build sustainable workplaces. We work with other Indigenous suppliers to create spaces that in turn support Indigenous communities through economic and social means. Get in touch with us here to find out how your office procurement strategies can benefit Indigenous communities and the environment.