Business Feasibility Study into the commercial viability of the My Moola Program
WhenDecember 2011 - July 2012
This project seeks to undertake a comprehensive Business Feasibility Study into the commercial viability of the My Moola financial education program. First Nations Foundation is examining the potential to extend the delivery of the program through employers of Indigenous Australians, as well as other bodies such as Correctional Services. Commercially, the desire is for these programs to be income generating and to contribute to the short and long-term goals and sustainability of First Nations Foundation in reducing to overall reliance on Government funding.
The program could provide significant benefits for employers of Indigenous individuals, as the culturally appropriate focus on personal development and life coping skills will assist with employee retention, and could be a valuable investment with flow on benefits to the company as staff improve their personal financial matters
The My Moola Program has been successfully delivered using a community development model to the Indigenous community in Shepparton, Victoria since 2006 with support from ANZ, Victorian State Government, and philanthropic trusts. Additionally, the program is currently being implemented in Melbourne, Victoria and Roebourne, Western Australia with the support of Rio Tinto Aboriginal Fund, FaHCSIA and DEEWR. First Nations Foundation (FNF) believes there is scope to deliver this program to employers, in partnership with Training Providers or Employment Service Providers on a fee-for-service basis to contribute to the program's sustainability beyond the current funding period, hence reducing the reliance upon support from Government Funding