Conclusion and future research direction
Indigenous business owners in urban and regional areas face unique challenges. As depicted in our model, we uncovered some factors that motivate Indigenous people to start businesses. We have also identified some skills and knowledge required prior to going into business. Certain factors also help or hinder business success.
A closer investigation of the various elements of the model might better inform policy makers and groups supporting Indigenous businesses in encouraging new businesses and assisting current ones. In particular, the areas of financial literacy, business networks and business mentors show promise.
This study has also uncovered some areas for future research. First, a comparative study of mainstream Australian small businesses as well as migrant businesses might discover similarities and differences, and offer some lessons for successful entrepreneurs. Second, industry-based studies may highlight best practices.
Finally, the model itself could be validated and improved through a larger sample.
Imagine an Australia in 2020 where the number of Indigenous businesses is three times that of the number now. It is this figure that will bring the proportion of Indigenous self-employed to the same level as that of the rest of the population.