Finance Minister Mathias Cormann says the Turnbull government is getting straight down to business after being sworn in by the governor-general.
"We are hitting the ground running," Senator Cormann told Sky News on Tuesday after his visit to Government House.
Prime Minister Malcolm Turnbull expects his government will be judged on what it delivers over the next three years.
However, business groups are already concerned Mr Turnbull's revamped ministry hasn't retained a small business minister inside cabinet.
Mr Turnbull and his senior ministers have defended the change, saying everyone in government has a role to defend small business.
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But Australian Retailers Association head Russell Zimmerman believes omitting the position "does not augur well" given its important role within the economy and is a "step backwards".
Tim Reed, the head of business software provider MYOB agreed, and hopes the decision doesn't represent a missed opportunity for the government to bring small business into the central innovation agenda.
The resolution to the longest federal election in modern times has failed to lift the mood of the country.
Consumer confidence has eased for a fourth straight week, a worry for household spending at a time when the Reserve Bank believes economic growth has moderated over the past three months.
The latest Essential Research also found 41 per cent of respondents expect economic conditions to deteriorate over the next 12 months compared with just 27 per cent who think they will get better.
The Reserve Bank's minutes from its July 5 board meeting indicated inflation, jobs and the housing market will be the key indicators as to whether it will cut the cash rate in August.
But it also anticipates the uncertainty surrounding Britain leaving the European Union will only have a modest adverse effect on global economic activity.
Economists expect next week's official inflation figures will show price pressures remain benign, opening the way to a cut in the cash rate to 1.5 per cent from its already record low of 1.75 per cent.
"Our sense is that housing and labour market data appear to present no impediment to an easing in August," JP Morgan chief economist Sally Auld said.
However, a survey by global recruiter Hudson found one in three employers expect to hire new staff in the second half of the year.
"It appears that despite confusing economic and political signals, employers are getting on with the job at hand and investing in the people they need to grow their business," Hudson's Dean Davidson said.
