3 Oct 2017: The Australian government has just released the two year performance snapshot of the Indigenous Procurement Policy (IPP).

The IPP is a federal government initiative that drives Indigenous entrepreneurship and business development by encouraging government departments to use Indigenous businesses in providing goods and services to Commonwealth agencies. The IPP aims to stimulate Indigenous economic development by driving demand for Indigenous goods and services and growing the Indigenous business sector.

The IPP was launched on 1 July 2015 and has three main parts:

• A target number of contracts that need to be awarded to Indigenous businesses.
• A mandatory set-aside for remote contracts and contracts valued between $80,000 – $200,000.
• Minimumhttps Indigenous participation requirements in contracts valued at or above $7.5m in certain industries.

IPP Two Year Report Card

The IPP has exceeded its goals in the first two-year period from 1 July 2015 to 30 June 2017. During this period, 4,880 contracts were awarded to 956 Indigenous-owned businesses with a total value of $594 million.

The Indigenous Procurement Policy continued to perform well into the second year.

In the IPP’s second year, the Commonwealth awarded 3,291 new contracts to 723 Indigenous businesses valued at $285.5 million.

Contracts were awarded to Indigenous-owned businesses in all states and territories and across all industry sectors.

Click here for detailed information.