Under the Business Council of Australia’s Raising the Bar initiative Programmed, and many of Australia’s biggest businesses, will collectively spend over $3 billion with Indigenous suppliers over five years
The landmark collaboration, between Business Council members and Indigenous supplier diversity organisation Supply Nation, was launched in Perth on 12 August by Minister for Indigenous Australians Ken Wyatt.
The initiative will see organisations meet a procurement target of 3 per cent of annual influenceable spend with Indigenous businesses over a five-year period.
“Creating opportunities for Indigenous businesses to thrive is the responsibility of organisations like ours,” says Programmed managing director Glenn Thompson.
“At Programmed, we’re proud to be working towards real and lasting change in our community.”
Over the past four years Programmed have achieved a 2400% increase in spend with Indigenous suppliers, and as part of the initiative’s working group were involved in developing the framework used to measure and report success.
Business Council chief executive Jennifer Westacott says Raising the Bar is “game changing”.
“We’re already working to foster entrepreneurship, economic partnership and building lasting links with Indigenous suppliers and this is a chance to do even more.
“Economic advancement at an individual, family and community level is one of the best ways to create the type of opportunities that can deliver real, genuine and lasting change.”