"We haven't had a minority government in federal politics for nearly 70 years, so for most Australians it will be a new experience and one that we now have to make work," said the organisation's CEO Stephen Cartwright.
Mr Cartwright said Prime Minister Julia Gillard would need all her skills as a negotiator "to maintain cohesion and deliver outcomes for all the Australian people".
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He also urged her ministers to "keep a watchful eye" on expenditure and efficiency, adding that a minority government shouldn't be used as an excuse to put a reform agenda on hold.
"We cannot be complacent by assuming that surviving the GFC in such good shape is a sign that reform is done. It is the key to our continued economic success," he said in a statement.
The independents also have a tough challenge ahead of them as they attempt to balance the needs of their local community with the national interest, Mr Cartwright warned.
He said the NSW Business Chamber was happy to work on matters of business policy with the Greens Party, which is expected to hold the balance of power in the Senate.
