The Registrar of Indigenous Corporations has released a research report entitled The Top 500 Aboriginal and Torres Strait Islander corporations, which examines the income and asset trends of the top 500 corporations registered under the Corporations (Aboriginal and Torres Strait Islander) Act 2006. This is the first such publication by the Australian Government and will be reported on annually.
The report found that Aboriginal and Torres Strait Islander corporations make a significant contribution to the national economy. The top 500 corporations generated $1.08 billion in income and employed nearly 7,000 people in 2007–08. In 2007–08 the average income generated by the top 500 corporations was $2.1 million, which is an increase from the 2004–05 average of $1.8 million, highlighting the growth of Indigenous corporations.
Figure 1: Changes in total income, assets and equity
More than 95 per cent of Aboriginal and Torres Strait Islander corporations are not for profit, community-controlled organisations that provide important services to Aboriginal and Torres Strait Islander people and communities. The dominant sectors the top 500 corporations operate in are health and community services, employment and training, land management, education, housing, art centres, and municipal services.
Figure 2: Number of corporations operating in each sector 2007—08
Other key characteristics of the top 500 corporations examined include income sources, asset and equity growth, state and territory location, and gender of directors.
The report highlights the valuable role played by corporations in contributing to the economy, delivering important services on behalf of government, and improving the lives and wellbeing of Aboriginal and Torres Strait Islander people and communities.
The report can be downloaded from the Office of the Registrar of Indigenous Corporations website.