COVID-19 Recovery and Relief Program
Survive, Stabilise, Thrive.
The middle of 2020 saw First Australians Capital launch its COVID-19 Recovery and Relief Program to support Indigenous businesses in navigating the challenges presented during the global pandemic.
To date we have provided over $250,000 in wrap-around support, in addition to 4,275 hours of marketing, legal, finance or strategic support for 285 Indigenous businesses. Our approach was to ensure survivability and stability, in particular, with Business Relationship Managers dedicating resources to business strategy and helping to identify and support opportunities to pivot.
All businesses we have worked with during the pandemic continue operating – which is encouraging given the pandemic’s impact on the small business sector in particular. The Australian Bureau of Statistics data on the impacts of COVID-19 on Australian business reported that businesses with 0-20 employees saw the most dramatic loss of jobs up to October last year. In the three months to August last year, business exits increased by 1.1% with a true indication of rates unknown due to the muffling effect of Government support programs.
Click here for insight into our plans to conduct a formal evaluation of the COVID-19 Recovery Program, how we intend to address gaps and opportunities in an effort to further empower these businesses to grow beyond the pandemic and establish long term sustainability – and how you can help.