Indigenous enterprises can be categorised into three main categories:-
- Those owned and operated by Indigenous individuals or “nuclear” families where profits may be distributed to individuals;
- Those owned and operated by “communities” or larger Indigenous cultural family groups that are operated for the benefit of the whole group and do not result in distributions of profit to individuals; and
- Those owned and operated by Indigenous corporate and service entities and Prescribed Bodies Corporate where profits may be distributed back to that particular corporation or service entity or its constituent corporate members such as the previously mentioned “communities”.
This article deals with the structuring of the second and third categories. The first category is not dissimilar to the traditional individual business model and structuring for that category will depend on normal commercial considerations such as risk, tax, and business succession as applying to individuals.
(more…)...
