Australia’s time is now: Dr Jana Matthews on new PM
One of South Australia’s strongest economic voices, Dr Jana Matthews, has challenged the Turnbull government to lead by example and reiterated the new PM’s cry that “there has never been a more exciting time to be an Australian”.
“Leaders – both corporate and political – ‘make the weather’,” Matthews said.
“If they are positive and optimistic about the future, employees and citizens become more confident and willing to take risks.
“If they are fearful and negative about the future, people react accordingly.
“I agree with our new Prime Minister, whose words were echoed by the new Minister for Industry, Innovation and Science, Christopher Pyne: ‘There has never been a more exciting time to be an Australian’.”
Globally renowned as one of 18 Women Business Gurus and an international expert on entrepreneurial leadership and business growth, Matthews said Australia’s size and population were key to the country’s economic turnaround.
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“With a population of 24 million people, concentrated in six or seven population centres, change can happen more quickly than in a country the size of the USA [with a population of 326 million].
“If we identify then capitalise on our strengths, focus, make the necessary changes, and work together, we could transform the economy and the nation more quickly than you might think.”
Matthews, ANZ chair in business growth and director of the UniSA Centre for Business Growth, said mining, agriculture and manufacturing now employed less than 15 per cent of the workforce and contributed less than 12 per cent to the country’s GDP.
“Over time, work has gravitated from rural areas to the suburbs and now into the cities where innovative, high-growth companies are located.
“Our thinking, investment decisions and public policies need to reflect the fact that we have moved from a resource-based, rural economy to a knowledge-based, urban economy.
“Our future wealth and economic health depends on our embracing the changes inherent in this shift.”
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She highlighted the appointments of Pyne and new Assistant Minister for Innovation Wyatt Roy who both understood “the importance of innovation”.
“Roy has made several trips to Israel and the United States to learn what those countries have done to stimulate and capitalise on innovation.
“The creation of this appointment underscores the importance that Prime Minister Turnbull places on innovation; the choice of Wyatt Roy means someone who understands the shifts taking place in our global economy will have an opportunity to shape public policy for Australia.”
Matthews pointed out small to medium-sized businesses with revenue between $5-50 million and under 200 employees held the key to near-term prosperity.
“I note Minister [Kelly] O’Dwyer’s Treasury role and background, which will be a great asset to both portfolios.”
Matthews said the new ministry, being sworn in at Government House today, was to be led by a PM who understood technology.
“Technology-based companies are key to our local and national competitiveness. I have high expectations for major, positive changes over the coming months.
“Our economy will depend on the creation and growth of more companies with global ambitions.
“Companies need five thrusters working together to create lift-off: a great idea, talent (CEO, executive team, employees, boards, advisors, service providers), money (debt, equity, grants, and tax regulations and public policies which unlock capital), and a supportive ecosystem within which to grow.
“Starting more companies is essential for our long-term economic prosperity.
“But teaching even a small percentage of our current 300,000 plus upper-small and medium companies how to grow, should enable us [to] push the Australian economy well beyond its current growth forecast, create more jobs and greater domestic wealth.”
