Why Most Indigenous Business Ventures Fail and What To Do About It?
By Roger Green
Indigenous Business Development
85% of all new business ventures (not just Indigenous Businesses)fail in Australia, in their first 5 years of business. You must plan to succeed from the very first day you decide to go into business writes Roger Green.
You've got to agree, that is a challenging and thought provoking statement; but it is the regrettable and painful truth.
As a budding or established Indigenous business owner, what you do about it, is absolutely up to you.
You can (like most) blame everybody else, and become, "just another statistic"; another one of the 85% of all new business ventures (not just Indigenous Businesses) which fail in Australia, in their first 5 years of business.
Or, you can plan to succeed from the very first day you decide to go into business.
You need to be challenged, as does your business concept. Is it feasible, will it make money, is it unique, and most importantly can it be sustained in the longer term?
The Business Development Unit of The Department of Employment and Workplace Training has fully funded the creation of an Indigenous Business Incubator in Adelaide. This Incubator is part of the Enterprise Development Centre (Adelaide City Business) that won last years prestigious "Incubator of the Year Award".
Mr Roger Green has been appointed to the role of Indigenous Business Development Advisor, overseeing the management of the Incubator and its Outreach program that covers rural South Australia, Alice Springs and Tennant Creek regions. Roger brings a wealth of practical experience as a successful business owner, entrepreneur and trainer to this role. Specifically, he has experience in Finance, Insurance, Service Station Management, Glazing, Retail, Air conditioning, Sheltered Workshops and Manufacturing. He also comes from the school of "hard knocks", and knows what it takes to pick yourself up, and start all over again.
The Enterprise Development Centre (E.D.C.) seeks to:
- · Increase the profitability and long term sustainability of each business enterprise
- · Provide practical guidance and support on how to improve, develop and implement a new business idea
This will be achieved by the E.D.C. by:
- · Developing the Business owners skills
- · Helping to identify new sales and marketing strategies and markets (including export)
- · Providing a detailed understanding of how to start and maintain a small business venture that will succeed
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· Providing detailed assistance in the preparation of business plans that get results.
Participants in the E.D.C. Program will:
- · Receive the business advice and assistance, confidentially in a one-to-one environment
- · Access specially designed Business Workshops which focus on individual needs
- · Receive on-going business mentoring
- · Where necessary assistance in applying for funding
Going into business is easy; staying in business is the hard part.
It takes guts, it takes passion and a special determination to succeed, combined with a never say, "die" attitude about business.
If you have all of these special attributes and are prepared to be challenged, then challenged again; please contact the Enterprise Development Centre in Adelaide and speak to Roger Green on 08 8415 5199 or email: rgreen@edc.org.au
For further information
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