At Community Owned Enterprises, our primary objective is to build stronger regional and remote communities. We do this by identifying and creating enterprise opportunities, then work in close collaboration with local leaders, to facilitate the development of community operated, and ultimately owned, enterprises.
We take a unique approach to enterprise development, our 5 Step Process is outlined below…
The initial stage of the Enterprise Development process involves our Enterprise Development team working closely with key stakeholders in regional and remote communities to identify potential opportunities.
Enterprise opportunities typically present as either locally grown business ideas or via an upcoming tender opportunity that can be facilitated by local community members. All enterprise opportunity concepts go through a detailed screening and approval process to assess viability.
If the opportunity concept is approved, our Enterprise Development team prepare a full business plan, which is reviewed before being approved to proceed, or declined.
Identify viability and potential sustainability of proposed enterprise
Identify if proposed enterprise aligns with Community Owned Enterprises’ Strategic Plan
Identify alignment to Community Owned Enterprises’ Core Values
Identify level of community support
Identify potential for community & individual empowerment
Identify existing market conditions
Once a sustainable business model is approved by Community Owned Enterprises, in close collaboration with local leaders, our Enterprise Development Team commence the Enterprise Development phase of the process. Here we work to develop and understand the vision/ goals of the business, and establish critical relationships with potential contractors, suppliers, stakeholders, service providers and customers.
Creating a business strategy, registering a business name and developing an appropriate logo to represent the business would also be undertaken at this time. The Enterprise Development Team work to arrange business essentials; establishing partnership & lease agreements, setting up bank accounts, sourcing funding, developing operational systems and processes. The final critical component coordinated at this time, is the recruitment and training of local employees to work within the enterprise.
Understand business vision, goals & objectives
Establish critical relationships
Develop business strategy
Source business essentials
Recruit & train local employees to work within the enterprise
Implement start-up processes
Upon completion of the Enterprise Establishment Phase, we move into actively operating the enterprise. The Enterprise Development Team coordinates all facets of business management, ensuring the enterprise’s operations align to the business plan objectives and day-to-day contract obligations are being met.
Throughout this phase, the Enterprise Development Team also focus heavily on building the capacity of staff to ensure they have the skills and knowledge required to successfully complete their role within the enterprise. At this time, any stand-out employees are identified as potential future owners of the enterprise.
Cement relationships with staff, partners, stakeholders and contractors
Positive employee engagement and capacity building
Identify business growth opportunities
Resources and supplies are maintained
Administration procedures are adhered to
Inventory is managed effectively
Building the capacity of the enterprise and its employees is at the core of Community Owned Enterprises’ service model.
The first step we take in building capacity is to undertake a Skills Gap Analysis of both the enterprise itself and the employees working within the enterprise. This allows us to understand what critical skills are required in order for the enterprise to continue being viable once the ownership transition phase is implemented.
Any missing skills or qualifications that are identified throughout the Skills Gap Analysis will form the foundation of a Development Plan. This simple model ensures the Development Plan is tailored to both the business and individual employees working within the enterprise.
Complete Skills Gap Analysis of enterprise and employees
Create Development Plans for employees who show business ownership potential
Employees commence implementing their Development Plans – learning new skills to be used to enhance the functionality of the enterprise
Once employees have completed their Development Plans, the enterprise's future owner/s are identified.
Once the operational processes are established, staff are fully trained and the enterprise is functioning effectively, work can commence to prepare for transition. The Enterprise Manager will identify that the business has potential to transition and present the case to Community Owned Enterprise’s General Manager for assessment.
Enterprises being assessed for transition will require financial statements as well as a full transition plan. Once transition has been approved, a transition handover checklist must be completed.
Identify potential for transition phase to commence
Provide financial statements and a full transition plan for assessment
Approve or decline ownership transition
If approved, transfer business name, assets, leases, suppliers, credit applications into name of the employee who has been identified as the future owner
Identify level of support required with regard to back-end services: Payroll, HR, WH&S, Marketing and/or Finance
Connect enterprise new owner/s with assisting intermediaries including Indigenous Business Australia & Many Rivers