Practical reconciliation through business support

Proceeds from the sale of Yaru water have also been used to help support education and training programs for local Indigenous youth and the construction of a facility to teach visitors about Bundjalung culture.

Such relationships are an important and necessary first step in improving Indigenous social and economic outcomes.

Unlike government programs, which tend to be a passive form of support, supporting Indigenous businesses is a form of active assistance.

When Indigenous people receive support for a business initiative, they actually have to do something. Most of the time, they are the ones who have the business idea - and it is something they are passionate about, but do not have the funds to launch or the business acumen to know where to start.

Supporting Indigenous businesses can also help to foster individual responsibility and personal accountability, with the responsibility that comes from having a business creating an incentive for business people to succeed.

The federal government's $115 million Indigenous Entrepreneurs package is a much needed addition to the government's Indigenous portfolio, with Indigenous affairs noticeably absent from the 2016 budget speech.

If the government gets this policy reform right, not only will it open the door for greater Indigenous participation in the economy, it may also help to break down social barriers and overcome some of the negative stereotypes of Indigenous Australians. By encouraging partnerships between Indigenous and non-Indigenous businesses, there is potential for real practical reconciliation to occur.

Sara Hudson is the Manager of the Indigenous Research Program at the Centre for Independent Studies and author of Awakening the 'Sleeping Giant': the hidden potential of Indigenous businesses.