The aim is to promote Indigenous economic development by enabling Indigenous people and communities to acquire or develop commercially successful enterprises. Currently an estimated 1.3 per cent of Indigenous people are self-employed compared to 4.8 per cent of the general population. Business finance is available as loans, grants, guarantees or a combination of these.
Interest charged on loans is linked to the lowest commercial bank business rate.
Interest concessions, interest-free loans and grants are also available where a project needs assistance to be commercially viable and will produce sufficient benefits to Indigenous people. Business support may include, at no cost to the client, professional assistance to develop and present a business plan and application, business or management training, or ongoing access to professional assistance. There is a considerable demand for loans and grants that existing funding cannot satisfy. OR Getting on With Business . It was announced in the 1999-2000 Budget by Mr Reith as part of the Indigenous Employment Programme.