Political Leadership Change: What it means for your small business

Political Leadership Change: What it means for your small business

The top job has been once again changed mid-term meaning Australia has now seen six leadership changes in the last eight years! It is alarming to think John Howard was our last leader to serve a full term.

Like in any business, a change of the top dog can be a good thing or a bad thing. It can inspire confidence and creativity in the leadership team or it can create an environment of unease and resentment. Under Turnbull however, what does it mean for Small Businesses? Small Businesses do of course account for almost half of employment in the private sector.

“The Australia of the future has to be a nation that is agile, that is innovative, that is creative. We can’t be defensive, we can’t future-proof ourselves. We have to recognise that the disruption that we see driven by technology, the volatility in change, is our friend if we are agile and smart enough to take advantage of it. There has never been a more exciting time to be alive.” Turnbull said.

Turnbull has used similar language when talking at tech-start up conferences. Tech start-up companies are of course close to Turnbull’s heart, previously acting as chairman of ISP OzEmail and later selling his $500,000 stake in the business for a cool $57,000,000 (in only three years).

It would appear then that start-ups, not small businesses may be favoured by Mal and while it’s a little early to determine how Abbott’s economic policies which included generous small business tax incentives, will change under Turnbull. Already we are seeing a welcoming of the leadership change by businesses which should inspire business confidence.

Aussie entrepreneur Dick Smith seems to think so, “He’s a successful business man and I like the fact he’s middle of the road,” Smith says.
It is no secret that businesses need a clear vision for the economic future and plan on getting there (an area where Abbott failed).

“We need to have in this country, and we will have now, an economic vision, a leadership that explains the great challenges and opportunities that we face, that describes the way in which we can handle those challenges, seize those opportunities, and does so in a manner that the Australian people understand so that we are seeking to persuade rather than seeking to lecture,” Turnbull said.

Turnbull went on to say that, “The culture of our leadership is going to be one that is thoroughly consultative, a traditional thoroughly traditional Cabinet government that ensures that we make decisions in a collaborative manner. The Prime Minister of Australia is not a president. The Prime Minister is the first among equal”.

This approach, along with Turnbull’s close relationship with Senate cross benchers will hopefully assist the Turnbull government push through important reform.

Let us know what you think of the leadership change.

Image Source: GQ Australia