Worthwhile Ventures supports early-stage, Sydney based Aboriginal businesses to achieve their objectives by the provision of free business advice and customised education. We aim to create a sustainable Business Community whose members contribute to and benefit from successful Aboriginal enterprise whilst celebrating Aboriginal self-determination.
Free Business Advice
Worthwhile Ventures is an Aboriginal-controlled organisation that partners with Aboriginal communities and individuals in their drive for economic development and sustainability.
We support early-stage Aboriginal Enterprise by the provision of:
- Access to a Complimentary Business Advisory Service
- Education on Business Topics
Worthwhile Ventures will provide access to:
- Aboriginal leaders
- Specialists in relevant disciplines such as Law, Accounting, HR, Marketing & IT
OUR BUSINESS MODEL
Worthwhile Ventures is introducing an innovative approach to assisting Aboriginal Entrepreneurs, called
Not-for-profit : Venture Capitalism
The methods employed by Venture Capitalists to select and develop successful businesses are adopted, except that:
- A free advisory service to the enterprise is sustained over an extended period
- Loans (interest-free) are expected to be repaid when the business succeeds financially
- Loans will be assessed and made after a period of engagement and following review and analysis of the enterprises operations and potential
- Under this model, business owners do not part with shares and so retain control. Repaid loans will be used for new loans to other enterprises
- Extra funds for Worthwhile Ventures will be made available through financial donations by organisations and individuals wishing to assist Worthwhile Ventures
- As well as repaying loans, business owners are expected to give back to the Worthwhile Ventures Business Community in a form that will be determined on a case by case basis
HOW CAN WORTHWHILE VENTURES HELP YOUR BUSINESS?
There are many reasons that you may benefit from engaging with Worthwhile Ventures, such as:
- You may have identified an opportunity for expansion of the business and need some financial assistance or support on organisational change, or
- You may feel that you could benefit from an analysis of some (or all) of your enterprise's operations or procedures, with a view to improvement, or
- You may have identified that you, or one of your staff, would benefit from training in business-related skills to further the objectives of the enterprise, or
- Long-term sustainability is highly valued, alongside short-term growth and profitability
There are several criteria that your enterprise will be assessed against before Worthwhile Ventures can help. They include:
- Aboriginal majority managed and operated
- Not a franchise
- Be For Profit (no time limit) and
- Assessed suitable within WV’s funding and coaching capacity
HOW CAN YOU SUPPORT WORTHWHILE VENTURES?
Worthwhile Ventures relies on the generosity of its supporters to develop and grow as an effective organisation that can maintain impact.
BECOME AN ADVISOR
As a Worthwhile Ventures advisor you will join the Worthwhile Ventures Business Community (WVBC) to grow and support participating Aboriginal enterprises.
Support is provided on a pro bono basis to the enterprises and the position of advisor is a voluntary one. An advisor will be matched with an enterprise to provide input in a range of areas relating to the management and operation of the company. Members of the WVBC are expected to gain a deep understanding of the enterprise's background and situation and draw on their experience to provide guidance.
This could then lead to development of a business strategy, budgets and operational plans; implementation of the plans would then be reviewed by the coach and business owner on a regular basis. Depending on need, help in business areas (e.g. accounting, marketing, HR) could be provided by specialists. Advisors will therefore need to have significant experience and skills. They are also expected to be open and able to share their personal journeys in engagement with Indigenous culture and practice; Worthwhile Ventures will support new WVBC members through an on-boarding program to ensure their cultural readiness and that respectful and successful relationships are forged.
Worthwhile Ventures is a proud Aboriginal majority owned and operated non-profit organisation. Our sustainability is dependent on genuine relationships based on the cultural value of 'giving back' to country. This means, we are seeking meaningful donor relationships that serve a trusted commitment in achieving measurable social and economical outcomes for Aboriginal communities.
We invite individuals or corporations who wish to be a part off this unique approach to contact us and we will share more about our model. Donations are tax deductible.
Worthwhile Ventures and its Member Community acknowledges the Traditional Custodians of the land in which we travel, live, work and trade. We respect their Elders past, present and emerging, recognising the continuing cultural wisdom that informs and guides our contributing labour to our social, economical and environmental viability through successful Aboriginal enterprise