Right now Australia needs to face its new circumstances. Over the next few years there will be less jobs, executive pay packets in many sectors will need to halve and some industries will die. Unemployment and under employment will shoot up. A lack of planning for the post mining boom period and a general belief that we could pass through the GFC unscathed has left us somewhat unprepared to face the music. Some would even say that for now we are a little ‘screwed’.
The clear downturn in boom times has rattled governments and big business across the world. Now it’s Australia’s turn to face the challenge. But right now is not the time to become paralysed. Now is the time to hatch a new generation of entrepreneurs.
Right now, Australia is either paralysed or lacks any sense of urgency to change. Most economic strategies lack imagination and some parts of society are finding it difficult to reconcile our current predicament. We are like a second generation rich kid who wants the easy life without lifting the proverbial finger while the money runs out. It’s almost like the country needs a good shake up from its post boom apathy.
Pressure is being placed on governments to drive major infrastructure projects. Industry groups scream for investment into projects that will allow their own sectors to breath easy…the same as before. We try to remedy problems that have passed us by rather than looking for a new way.
It’s time to do drive a fresh dose of entrepreneurialism. A new business focus that leads to growth and employment in new industries.