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Good governance is the key to economic growth

Good governance is the key to economic growth

When businesses are healthy, jobs are created, the economy grows, and people can be lifted out of poverty and welfare dependency.

AIG has been supporting Aboriginal corporations since 1988 and over that time have learnt a thing or two about what it takes to keep business surviving Essentially it revolves around good governance, sound business foundations, real time financial data and continuous capacity building. There is nothing new there but knowing and doing are very different things. Our business support services offer exactly those things and encourage success through strong governance and strategic direction

Business support services

Governance and financial management support continue to be a key point of vulnerability for many Aboriginal corporations. Our business support services help clients to strengthen their governance framework and financial processes and brings new perspective and ideas to the table so they can stay viable.

Governance training

Board training that focuses on building the foundation of a strong business and financial management skills are a vital part of supporting our clients. It is all about increasing capacity within Indigenous boards to allow them to make informed business decisions

Beside financial management training a large part of governance training remains understanding the rules and regulations of the Office of the Registrar for Indigenous Organisations (ORIC). This is a federally run department where all Aboriginal corporations are mandatorily registered. ORIC has a specific set of rules that Aboriginal corporations must abide by and understanding them can be complicated.

Bookkeeping

In our experience, bookkeeping remains a challenge for many Aboriginal corporations. Finding skilled staff and retaining them is always a difficult in community. However, availability and reliability of bookkeeping data is crucial for informed decisions and protecting the over financial health of the corporation.

Access to reliable bookkeeping services is a foundation of successful businesses and invaluable to clients who need it.

Independent advice

Affordable independent advice can be hard to find in the Northern Territory, particularly for corporations that are remote and struggling financially. Providing an independent perspective with new ideas about how to tackle business opportunities and challenges is a valuable service.

If you are interested in learning more about AIG’s business support services, ring 08 8922 2666 or email info@aiggroup.org.au