For twenty years, BCG has been committed to supporting and engaging indigenous businesses to create opportunities for Aboriginal and Torres Strait Islander peoples. Twenty years ago this began with using our consulting skills to support the start-up of Indigenous businesses in remote Cape York. Now we are delighted to be a member of Raising the Bar—a Business Council of Australia initiative that is helping to create the social and economic conditions in which Aboriginal and Torres Strait Islander people all over Australia can prosper and thrive.
As part of this initiative, BCG has committed to spend 3% of our influenceable spend on indigenous businesses over the next five years (influenceable spend is a calculation of domestic annual spend less ‘non influenceable’ items). In addition, we also will meet the commitments of the Raising the Bar framework which include:
• Creating our supporting systems and processes to achieve the 3% target
• Reporting and monitoring of spend against the target
• Supporting where we can to help develop indigenous suppliers
Delivered in conjunction with Supply Nation, members have committed to collectively spend more than $3 billion over the next 5 years to create new opportunities and greater economic participation in the indigenous business sector.
BCG Australia’s influenceable spend is defined as domestic annual spend less ‘non influenceable’ items which are currently as follows: travel, insurance, equipment rental & finance, professional memberships, occupancy costs, payroll, communication costs including telephone, tertiary education fees & workplace giving.
BCG Australia is proud to be a part of this initiative and other organisations which help to promote the capabilities within the indigenous business community such as Jawun, of which BCG was a founding member 20 years ago.
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