Millionaire entrepreneur Dick Smith has called on Prime Minister Anthony Albanese to stand up to foreign competitors and support home-grown businesses.
Mr Smith, 81, has warned that small enterprises, the backbone of the economy, are being neglected as foreign competitors tighten their grip.
He argued the federal government needs to invest in local ventures for the sake of Australia’s future grandchildren.
‘I will ask Mr Albanese to be strong, to stand up to those foreign lobbyists and say, “No, we’re going to support Australian Made and Australian Owned”,’ Mr Smith told the Herald Sun.
He said the iconic 1986 Australian Made campaign should serve as the blueprint for a new era of patriotism-driven consumer support.
Back then, the green-and-gold kangaroo logo became a national symbol of pride, and Mr Smith believes it’s time for an even stronger push.
‘It was such a brilliantly simple idea. You put it on TV, and you have well-known people saying, let’s support Australia,’ he said
His proposal goes beyond the original concept.
Millionaire entrepreneur Dick Smith has called on Prime Minister Anthony Albanese to stand up to foreign competitors and support homegrown businesses
Mr Smith wants clear ‘Australian-owned’ labelling, arguing that profits from these products stay in the country and strengthen the economy.
He insists successive governments have shied away from promoting local goods for fear of upsetting foreign corporations.
Mr Smith’s warning comes amid troubling signs for small businesses.
According to the Australian Bureau of Statistics, investment in small enterprises fell by 7.3 per cent in the past financial year, marking the sharpest decline in a decade.
Industry groups say this trend threatens innovation and job creation, especially as global supply chains dominate retail shelves.
Meanwhile, gross operating profits fell 3.3 per cent year-on-year from June, while wages climbed 5.8 per cent, squeezing margins.
Mr Smith, who famously turned a $610 car radio venture into a $25million empire, says any campaign must appeal to patriotism, supporting local farmers, manufacturers and companies as you would a ‘home team.’
He said he also sees technology as a double-edged sword.
Mr Smith argued the federal government needed to invest in local ventures for the sake of Australia’s future and grandchildren
While artificial intelligence could shorten the working week and automate labour, he argues it opens doors for a manufacturing revival in Australia.
Rising wages in countries like China and India, which have long produced goods cheaply, could make local production competitive again.
‘When you stop and compare, you’re helping a mate, and you are helping Australia,’ Mr Smith said.
He said he was personally asked by then Prime Minister Bob Hawke to be involved in the campaign at the time.
Mr Smith said that modern politicians do not have the same conviction towards the issue as they did back then, with concerns they will ‘offend’ foreign companies.
He pointed to solar panels as an example: most are made in China, but Mr Smith believes Australia could reclaim that market with the right investment and policy support.
