Indigenous Procurement PolicySupporting Indigenous businesses
What is the Indigenous Procurement Policy?The Australian Government’s Indigenous Procurement Policy (IPP) is designed to stimulate Indigenous businesses by providing Indigenous Australians with opportunities to participate in the economy and access government procurement contracts. Businesses operating under government contracts are required to participate in the IPP. Other Australian businesses are encouraged to participate, but are not required to do so.
The policy has three key components:
- an Australian Government target for purchasing from Indigenous enterprises;
- a mandatory set-aside to direct some Australian Government contracts to Indigenous enterprises; and
- a minimum Indigenous participation requirements for certain Australian Government contracts.
To help ensure Indigenous businesses are able to win contracts at a level closer to those of non-Indigenous businesses, a target based on the value of those contracts will be introduced from 1 July 2019. The target will be set at one per cent and will increase by 0.25 per cent each year until it reaches three per cent in 2027.
Maxcool and the IPP
Maxcool is a proud supporter of Indigenous businesses. All Maxcool product can also be purchased through Indigenous businesses, helping Australian companies meet their IPP targets and stimulating Indigenously-owned enterprises. Contact us to find out more!