Malcolm Turnbull was forever telling Australians to be "agile and innovative" when he took over as prime minister.
A new survey shows that small business at least is doing just that.
The research by business software provider MYOB found more than three-quarters of the 1000 small and medium sized enterprises they surveyed have invested in technology in the past 12 months, as a means to innovate their business.
This includes taking on computer hardware and software, new machinery and up-skilling employees.
Nearly four in five SMEs believe technology advancements will impact their businesses in the next decade, 40 per cent of which expect it will have a significant impact.
MYOB head Tim Reed was pleased to see SMEs "walk-the-walk".
"They're not throwing their hands in the air with these challenges, they're investing in the required innovation which can provide a competitive edge into the future," he said, releasing the findings on Wednesday.
However, just under a third of small business owners thought the cost of introducing and developing innovation was their biggest barrier, while just over a quarter said there was too much government regulation and a similar amount thought there was a lack of government support.
Creating an innovation-friendly environment could be a vote-winner, with 53 per cent of SMEs saying they would vote for a party that continued to increase government funding for innovation, research and development.
"The government needs to do as much as it can to encourage achievable innovation, as it will lead to a vibrant small business community," Mr Reed said.
