Supply Nation, which manages Australia’s largest national directory of verified Indigenous businesses, has released a 15-year anniversary report.
The ‘Legacy: Supply Nation’s 15-year Anniversary Report’ provides analysis of the contribution Supply Nation has made to the growth and achievements of Indigenous businesses over its 15-year history.
In 2008, a submission was made to the House of Representatives Standing Committee on Aboriginal and Torres Strait Islander Affairs – Inquiry into Developing Indigenous Enterprises. This recommended that a supplier diversity initiative based on a US model be established in Australia.
In 2009, the Australian Indigenous Minority Supplier Council (AIMSC), later known as Supply Nation, was established by the Rudd government.
In its first year of operation, Supply Nation facilitated $300,000 of procurement spend with 13 Indigenous businesses. The Indigenous Business Direct database now lists over 5000 verified Indigenous businesses, and in 2023 procurement spend from members (corporate, government, and non-profit organisations) totalled $4.1 billion.
Key findings in the report include:
- From 2009 to 2023, Supply Nation facilitated more than $14.7 billion in procurement spend between our members and suppliers (verified Indigenous businesses).
- Numbers of suppliers grew from 2009 to 2024 at 41% per annum.
- Numbers of members grew at 25% per annum.
“It is an honour and a privilege to be CEO of this unique organisation at such a significant milestone,” says Supply Nation CEO Kate Russell.
“Supply Nation commenced as a three-year pilot program and has well and truly proved its worth, bringing significant benefits to Indigenous businesses that in turn contribute to economic and jobs growth and the prosperity of all Australians.
“We are seeing strong progress across diverse industries, driven by a commitment to innovation and sustainability with core values that place improving education, health and social outcomes within communities at the centre of business culture. That is something to celebrate and support.”
A copy of the report is available here.