Unlocking the potential of First Nations businesses

For business owners and CEOs, navigating the challenges of leading a company and helping to drive its growth requires strong business acumen, the ability to balance multiple priorities and making decisions that benefit the whole organisation.

These skills can be difficult to develop organically and all business people have a story to tell about the mentors and inspiring colleagues who helped them on their journey to become better leaders.

Since 2014 ANZ has helped thousands of businesses to grow through online content, virtual events, intense nine-month programs and one-day CEO Assessment Clinics.

This year ANZ took this a step further and hosted an event in conjunction with the Indigenous Business Australia (IBA) billed as an Indigenous CEO Assessment Clinic. The clinic was designed to help Indigenous CEOs identify impediments to the growth of their companies.

These include the ability to develop long-term relationships in business, cashflow systems and procedures, attracting and retaining a capable management team and ensuring the retention of key people.

During 2023 ANZ plans to roll out more aspects of it’s Indigenous Commercial Banking Proposition, forms part of ANZ’s 2022-2024 Reconciliation Action Plan (RAP) and broader commitment to supporting Indigenous business.

ANZ wants to support Indigenous businesses to grow and thrive and recognises this is an important part of community building and trusted relationships.

Throughout the last three months we have been strengthening relationships with our existing Indigenous corporate partners to build the foundation for growth and support of Indigenous business and communities.

Last November we held our first Business Growth day clinic in Brisbane for six Indigenous Businesses and we have established a First Nations Referral Network – a group of First Nations team members in different roles across the organisation to support and walk alongside Indigenous customers.

During the recent CEO Assessment Clinic, participants were able to discuss their challenges, leadership and business growth aspirations. They were guided in their learning by ANZ Chair in Business Growth, Dr Jana Matthews and Professor Ryan Williams from the Australian Centre for Business Growth.

The experience helped the CEOs better understand the building blocks and processes for growth, and the set of skills required to be a leader. It also helped them learn the importance of delegation and establishing an executive team through attracting and retaining the right people.

The session also included a visit from ANZ CEO Shayne Elliott who shared leadership insights. These included how to identify the employees needed for future growth, the importance of culture and how defining mission, values and vision has been crucial for ANZ’s employees and its business.

Part of ANZ’s purpose is to help customers who want to start, run and grow a business. And we are confident these initiatives to support First Nations Business will deliver the help they need to thrive.

James Lane, Executive Sponsor, Indigenous Commercial Banking Proposition

State Manager, Business Banking, Queensland