Perth, May 8: With Treasurer Jim Chalmers placing productivity at the centre of Australia’s upcoming Federal Budget, business leaders across the country are speaking up about what they need and the message goes well beyond technology.
From fintech founders to legal advocates, workforce specialists to social entrepreneurs, nine voices from across Australia’s business community are united in one clear expectation that this Budget must go deeper than headline reforms.
They want action on cost of living, broken workflows, underinsurance, workforce design, housing, and the mounting pressure on everyday borrowers.
As Budget day approaches, DailyStraits.com asked business leaders from a range of industries what they are watching for and what they can no longer afford to wait on.
Here is what they had to say.
Cost of living and consumer accountability
Julian Fayad, Founder and CEO of LoanOptions.ai, says everyday Australians are being squeezed from every direction and wants the Budget to deliver real accountability for pricing practices in supermarkets, utilities and insurance. He is also calling for bold R&D incentives and export support for Australian tech businesses competing globally.
“The budget should back the builders, protect consumers, and hold the powerful accountable,” he said.
Back the challengers, not just the survivors
Ivan Teh, Co-founder at AdVisible and Director at AIIMS Group, argues too much existing business support is structured around keeping businesses afloat rather than rewarding genuine disruption. He wants grants and incentives that support SMEs willing to take bold swings in their industries.
“Australia should back businesses changing industries, not just protecting old ones,” he said.
Protection should not be a privilege
Renee Roumanos, Founder and Principal Solicitor at Renee Roumanos Legal, wants the Budget to address what she describes as a quiet crisis hiding in plain sight — underinsurance, legal illiteracy among first home buyers, and the lack of legal infrastructure for small business owners and women building wealth.
“Protection should not be a privilege,” she said.
Fix the foundation before adding AI
Nirlep Adhikari, Founder at Mount Mindforce, warns that deploying AI on top of broken business processes will not deliver the productivity gains the government is seeking. He says Australian businesses are quietly losing hundreds of thousands of dollars a year to workflow debt — disconnected systems, manual processes and data living in spreadsheets.
“Real gains come from eliminating the workflow debt first,” he said.
Homelessness cannot wait for housing
Lisa Clark (left), Co-founder and COO at Backpack Bed for Homeless, is calling on the Federal Budget to invest in emergency solutions for rough sleepers now, while long-term housing targets remain unmet. She notes the average lifespan of an Australian male rough sleeper is just 45.6 months, and that more than 77,400 requests for emergency accommodation went unmet in 2024-25.
The multi-award-winning Backpack Bed is a 2.9kg ergonomic backpack that converts within seconds into a waterproof, fire-retardant, all-weather shelter with built-in mattress, insect mesh and windows. Every $144 Backpack Bed deployed saves the community $3,319 in avoided health, justice and emergency costs.
Clark points to Tasmania as proof of concept as the public recently funded a Backpack Bed for every unsheltered person in the state, saving the community $846,345.
“Ignoring the thousands of people forced to sleep rough is like ignoring a natural disaster zone happening now nationally,” she said.
Borrowers are already under stress
Dr Amir Shareghi Najar, Head of Data at Quickli, says platform data tells an uncomfortable story — borrowers are carrying significantly more debt on average while managing higher interest rates. He warns that heavy-handed policy changes to negative gearing or trust structures could destabilise an already stressed system.
“The system is stressed. The budget needs to acknowledge that reality,” he said.
Get your finances ready now
Nick Chong, Co-founder and Managing Director at Rateseeker, acknowledges the Budget is expected to include expanded support for first home buyers but urges borrowers not to wait for perfect conditions. He says understanding your borrowing capacity and securing the best rate matters as much as timing the market.
“The people who come out ahead aren’t always the ones who waited for the perfect conditions. They’re the ones who were ready when opportunity showed up,” he said.
AI investment needs people behind it
Anna Volkova, Head of People at HiBob APJ and LinkedIn Top Voice, argues that AI investment will only deliver results if organisations fundamentally redesign how work gets done. HiBob data shows 67% of Australian employees believe it is their employer’s responsibility to prepare them for the impact of AI.
“Real productivity gains only appear when organisational design and workforce planning are fundamentally redesigned, not just augmented,” she said.
Support the day to day, not just the headline
Ciaran Hale, CTO at Deputy, wants the Budget to offer practical targeted support for SMEs including investment in automated compliance systems, incentives to move away from manual processes, and integration of workforce management skills into vocational training.
“Lifting productivity requires supporting the day-to-day operations of businesses, not just high-level reform,” he said.
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