The Lawler Labor Government has today announced a refresh to the Aboriginal Business Development Program (ABDP) to provide better support to start-ups and established Aboriginal businesses to develop and grow.
The changes will enable more businesses including start-ups to access funding through the ABDP and enable greater diversity and growth within the Territory’s business community.
A key change to the ABDP is to introduce Project Partners to provide advice and mentoring support to businesses during the application process. Program Partners will enable businesses to optimise funding and support under the ABDP and successfully take their enterprise to the next level.
Other changes include; aligning the definition of an Aboriginal Enterprise to 51%, moving to an online application through Grants NT with panel assessment through grant rounds, amending the frequency to access the ABDP to every 3 years, and businesses that access the program again after this period will now be required to provide a 20% co-contribution.
Last year local Alice Springs carpenter Derryn Dean ventured into setting up his own business Leveld Carpentry with a $30,000 grant through the ABDP, enabling him to kick start his business with funding to purchase tools, equipment, signage and a trailer.
Round 1 of the $1 million program is currently open to eligible businesses to apply for funding up to $30,000 which can be used to purchase assets, undertake training or for professional advisory services with this round closing 31 July 2024.
To learn more and apply for funding in Round 1 visit nt.gov.au/abdp
Territory businesses and consultants that have previous experience working with Aboriginal businesses or are interested in supporting Aboriginal businesses can submit an expression of interest via email to [[email protected]]
Quotes to attribute to NT Minister for Business and Jobs Joel Bowden:
“Small to medium sized businesses are the heart of the Northern Territory’s economy and it is important that the right support is available to help our businesses grow and reach new markets.
“The refreshed Aboriginal Business Development Program has been designed to be more accessible, easier to use and more transparent for the end user.
“Supporting more businesses through the ABDP means more local jobs, new economic opportunities and community benefits for Aboriginal Territorians.
Quote attributable to Leveld Carpentry owner Derryn Dean:
“Leaving a steady job to go into business on my own was scary, but with the assistance of my NT Government small business champion I was able to get an ABDP grant which was excellent and a great help to setting up the business.
“My business is doing well with carpentry, painting and maintenance jobs in Alice Springs and remote communities and I hope to be able to soon take on an apprentice.”
