MAKING FAMILIES AND COMMUNITIES STRONG THOUGH SMALL BUSINESS

Making Families and Communities Strong Through Small Business Mara West, Honours Thesis, Murdoch University, 20072.3.5. Lumbu Indigenous Community Foundation (LUMBU) is anIndigenous controlled charitable foundation whose objectives are to:- to promote healthy, vibrant and prosperous Indigenouscommunities;- to promote and encourage Indigenous ownership and control ofassets in a manner that enhances Indigenous cultures andvalues;- to build partnerships that create and support models ofsustainable, culturally appropriate Indigenous development; and- to celebrate and invest in Indigenous young people, especiallyinitiatives to foster Indigenous leadership.2.3.6. Carnegie, Wylie and Company (CWC) is an independent investmentbank that operates in Australia and the Asian region. Their activitiesinclude mergers and acquisitions advisory services, direct investmentand private equity and funds management. ‘CWC will assessIndigenous investment or advisory opportunities where TraditionalOwners possess land holdings, Native Title rights, pending resourcenegotiations, tourism and/or land development. Other opportunities thatpossess a competitive advantage or compelling commercial propositionwill also be considered’ (CWC Website)2.3.7. Indigenous Capital LTD (ICL) are a group of private investors andbusiness people who are looking at the viability of creating anIndigenous private equity fund. ICL works in concert with the IBA. ICLwants to take Indigenous business to the next level by:* focussing on sustainable commercial drivers and separatingthem from social and political considerations;* establishing Indigenous private equity investment, businessbuilding and capacity development through public and privatepartnerships;* accessing private capital markets and developing Indigenousinvestment as a genuine asset class; and* developing Indigenous expertise in mainstream commerce.This researcher spoke to the Aboriginal person who was spearheadingthis initiative and he said it went through every government mechanismand others supporting it and when it was finally presented to theAustralian Government it was not supported. He said ICL has notdisappeared but rather it is ‘on ice’ for the moment.2.4. OTHER EXAMPLES OF GOOD BUSINESS2.4.1. Balarinji Design StudioBalarinji is a contemporary art design brand that has ‘been pushing theboundaries of signaturing Australia for almost twenty years’ (Balarinjiwebsite). It has been a trailblazer for Indigenous art and designs fromadorning Qantas jumbo jets to fashions on Paris catwalks, kimonos inJapan and christmas banners in Sydney’s CBD. In 2004 IBM andBalarinji collaborated and produced ten limited edition IBM Balarinji22