A Joint Venture is a business partnership where two or more parties each take up part ownership of a commercial venture. Sometimes people may invest money, other times, they may invest their expertise, or a combination of both money and expertise.

If you have a great idea or a great product, but you are held back by insufficient funds, or a lack of commercial expertise, it may be worth thinking about a joint venture or taking on a business partner. This can help to fill the gaps in expertise and funding, enhance your opportunities for growth, and even though you are sharing the profits, many people have found themselves to be significantly financially better off.

Who else has done it?

Many of Australia’s successful tourism businesses are joint ventures or partnerships. We have done a number of case studies on the success factors of some such partnerships or joint ventures. Please see the individual case studies below for details:

• Guurrbi Tours
• Monkey Mia Resort
• Kooljaman at Cape Leveque
• Tjapukai Aboriginal Cultural Park
• Tiwi Tours
• Brambuk Aboriginal Cultural Centre

Who can help me attract an investor or partner?

The Indigenous Stock Exchange (ISX) [www.isx.org.au] advocate and support Indigenous business development through trading floors where they match Indigenous business-ready entrepreneurs to investors.

Indigenous Business Australia (IBA) Enterprises [www.iba.gov.au] offers a business support service to indigenous businesses and can contract a mentor to assist you to investigate the various options to grow your business, through a partnership or seeking an investor.

Indigenous Business Australia (IBA) Investments [www.iba.gov.au/ibainvestments] invests directly in business opportunities, often through joint venture arrangements with expert industry partners and Indigenous organisations, communities and/or individuals.

To attract a business partner or investor, you will usually need to have an up to date business plan which clearly outlines your growth plans and business potential. If you need help compiling your business plan, see details under assistance or to do it yourself, please see the helpful business planning information provided on this website.