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Advice from Outside the Square

Category Archives: Managing Indigenous Organisations

5 Steps For An Indigenous Organisation To Start A Business

Are you planning to start a new business, either as a commercial business as part of your Indigenous corporation or as a social enterprise, or even as your private Indigenous-owned small business? A for-profit commercial business, even a social enterprise where you reach out to external "customers" in an enterprise that generates benefit for your members, is quite different from a community-controlled organisation that provides services to members. There are significant considerations such as the appropriate and separate legal structure that you would need that would separate the risks of an enterprise from the assets of your organisation. Even if you want to start a private business for yourself or your family, structuring is an important consideration so that you protect your family from the risks of the business. You need to take the proper advice about how to manage these risks. This article is about the steps you should take to ensure that your idea for the enterprise or business is feasible, and how to set it up so that it has every chance of success. Take these 5 steps as you start your considerations and planning. First, make sure that you understand what it takes to be in business for yourself, and assess your own...
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