Naomi Anstess is a business consultant who coaches First Nations entrepreneurs and small business owners, including Rayleen Brown.
Take the example of a Darwin-based concrete start-up that Naomi is currently mentoring. They need $1.4 million to buy new equipment and grow."Aboriginal people generally don't have any inter-generational wealth, and that's due to dispossession. It creates an inability to grow." Achieving VC is difficult for all entrepreneurs, but Morgan especially felt a lack of a "wealth network" to open doors for him, and believes those who did open them "with good intentions" didn't understand cultural differences.
NAB's positioning itself as the market leader. It recently appointed its first Indigenous business and banking specialist, Adam Fletcher. Bawrunga recently went to a Commonwealth body set up to fund Indigenous business, IBA, for a loan to open a new building. However, its chief executive Leavina Reid says they were knocked back.
"It gives me great pleasure to be able to sit here and to be able to talk about our journey," she says.Andrea Jackson heads up another not-for-profit, Maraway, that has built itself up through grants.
That dont make sense.
It’s hard for anyone to find funding for half baked ideas that are doomed to failure What’s aboriginality have to do with it? Money doesn’t give a shit about the color of your skin as long as the money given will beget more money More ABC Stupidity abcnews auspol VoteNo
Judging by the photo how would they know she was Aboriginal unless she told them? Maybe they thought she was delusional.
The article tries to paint picture of negative racism but only cites examples of positive racial consideration. Even Government procurement.
We are one nation made up of people of many different cultures- ancient and modern. It is racist to divide us in first instance.
SNOT
Headlined designed to trigger anti-indigenous sentiment. Don’t fall for it. Keep scrolling.
Every time I talk to a government agency about funding they insist I should get funding from VCs or rich white fkers I expected that from the Coalition but Labor has the same people at the gate Same horse, different jockey 😞 FARSTE DRIVE is the next big thing AlboMP
Unfortunately, finance is indeed
This is BS. There is a very good chance if she previously had a good business, she now has a bad credit rating. I'm sure there are many underlying factors other than race
Racist bastards …… yes …… sarcasm
This is hilarious. No one (except the government) loans money to people with zero hope of getting it back. Racist my A.
You generally find poor business ideas struggle to get finance regardless of the ethnicity of the applicant.
Hahahahahahaha
Getting money from a bank as a start up is very difficult, no matter your ethnicity. They usually want collateral like your home. To get a loan on your business, the minimum requirement is 3 years profit statements.
At first glance this headline had all the hallmarks of a Stan Grant article, much to my surprise it wasn't.
That is hilarious. Getting money for a startup is an extremely difficult thing to do. My guess is that there would be a bit of a basis toward Indigenous startups, simply because there would be venture capitalists who love to be able to use it for PR purposes.
Stop being different then you will be treated equal.
TitaniaMcGrath Finance is racist.
Typical ABC crap, everything contrary to their well paid secure employment perspective is racist-anyone who has started a business knows 'the struggle' to finance their endeavor-the successful ones have been through the mill. Get a real job ABC parasites on the public purse.
It’s not surprising.
Some believe their ABC is inherently racist
Maybe your business plan is poor. I think that's the most likely issue.
Don't call a man a boy, in this sense it's misandry. Maybe ABC should try a race reversal and see if it flys?
ABC you are so pathetic.
You're supposed to take on risk, not funding. Fund your own damned projects, I don't care what race you are.
Because you have a shitty business plan it's now racist! ABC at it's finest.
If this were true then arbitrage would fix the problem quickly.
You want them granted loans on the basis of race? Perhaps they just have ideas that won't make money? Why should anyone have to support an 'entrepreneur' on the basis of their race?
Guaranteed Govt hand outs to honour aboriginal loans. Sure it is racist.
what? 🤣🤣🤦♂️
it's time you stop this utter nonsense and get real. You're suppose to be news outlet for all Australians, especially since we fund you, and not a platform for identity politics and left-wing activism.
Identify as Australian may help.
The Aboriginal Broadcasting Corporation has done it again.
If you grow up being told that the world is against you` due to the color of your skin, then 'racism' is the easy excuse to quit when things don't go your way.
Legalise modified dwarf palm oil trees. Legalise cockwhistle, Legalise V2H. ABC very quiet and boring.
Bush tucker is in short supply... alwayswasalwayswillbe Wattles only produce seed once a year 🤨
I don't recall ever having to select an option about identifying as an Aboriginal or Torres strait Islander on any bank documents. I am not dismissing the legitimacy of the article but has this always been the case?
If you don’t pour money into a bad idea with no return you’re a racist. 😂
Of course it must be wAYCiZm Because of something that happened to me Checks notes In a year that doesn’t begin with 2
Talk about poor reporting. What was the reason for the rejection. Where is the business model? Even the Aboriginal body rejected it. How about EmiliaTerzon fund it herself if it so good.
First nations? Yet another trash ABC story. Without a drop of evidence and a few unfounded claims, this gets pushed like it some sort of national scandal. Almost a certainty their start-up is crap and not worth any investment.
Loaning money with some degree of certainty in getting it back is not racist it's good business.
This is a pathetic race baiting story that only a delusional racist media platform would run. you are funded by taxpayers not racist, aboriginal Anarchist. You are not a propaganda machine for fictional virtue signalling.
“Finance is racist” - take me now sweet Lord 🤦🏼♂️ Financial institutions care about two things. Money and the risk on that. It might be the business ideas are rubbish or high risk? 🙄 Risk is broad: owners competence, business model, magnitude of returns, business idea, etc etc
“Not lending money to people who can’t afford to pay it back is racist”.
Racism in the form of 'journalism'. Who approved this?
Yep. Poor journalism.
On a number of levels, this is a terrible piece of ‘journalism’. I.E - - no tangible evidence - no expert sources - assumes all start ups deserve funding - suggests more data is needed but only to suit the narrative - what about the ‘business consultant’s’ $$$ interests 🤔
Correction: ‘First Nations’ is a Canadian term, stolen by activists & irrelevant to Australian Aborigines. Also for the record, there is no conclusive evidence that Aboriginal people were the first settlers or original indigenous on this continent.
Just the world 🌍 we live on. Remember, no humanoid really owns it. 🎼
No. There is an investment risk. Particularly at the moment where defaults according to sovereign debt raters are expected to rise Not only do indigenous Australians demand extraordinary political power over other citizens they demand extraordinary advantage in obtaining credit.
the same sort of discrimination that applies to people with disabilities perhaps?
Or perhaps her business plan wasn't seen as particularly imaginative or promising? Or her propensity to repay the loan was lacking based on her work history and savings habits? It's called risk profiling + totally needs to be pragmatically ageist, sexist, classist etc.
Finance is racist! Just look at the billions thrown at aborigines with nothing to show for it. No other racial group gets treated the same
's why after the Voice is applied to reign parliament in according to racial rather than democratic principles, it will be time for 'Reparations'
Learn the difference between a tribe & a nation. Try not to scrape your forehead so much will bowing to the equivalent of aristocrats (tribal leaders). Your regressive, undemocratic & racist editorial policy is eye wateringly awful.
Is this Racist?
What’s First Nations? One nation?
Money sees no colour! ABC race baiting, what's new!
This is both an advertisement for the NAB & continuation of the bigotry of low expectations of Aboriginal people. Well done ABC, slow 👏
Finance isn't racist. We're all struggling with start up.
There are no First Nations. That’s Canada
Abc isn't allowed to be a news outlet anymore , so this is news now, minority fluff for us all to feed on.....
Rasict even when the taxpayer is fronting the cash
“Some believe finance is inherently racist”. That’s quite the statement made by ABC, but with absolutely no sources for this statement in the article, nor any proof that funding is skin color based, it shows that ABC is inherently not real journalism.