INTHEBLACK August 2024 - Flipbook - Page 55
“The productivity discussion in Australia has been focused
on competition policy, industrial relations and red tape.
They’re all important, but our data shows it is a more nuanced
picture. We need to expand the debate to include other drivers
of productivity, including how we increase the proportion of
young Australians starting a business or buying a business.”
GAVAN ORD, CPA AUSTRALIA
has called on government to set targets
to increase the number of people in that
age group who own a business.
Lamb believes more can be done
to address the declining number
of younger people entering the small
business sector. “We know that when
people enter business is typically when
they are the most innovative.”
Leigh also encourages younger
entrepreneurs and potential business owners
to back themselves and wants to see a
younger cohort setting up their own
enterprises, rather than joining big firms
and corporations as the default option.
“A healthy ecosystem requires more
new entrepreneurs to be starting up, and
the average age of small business owners in
Australia is going up faster than the average
age of the population,” Leigh says.
“We must make sure that we have younger
Australians thinking, ‘Yes, it is terrific to go
off and join a big firm, but it is just as good
to go off and start your own’.”
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