Directions 2026: The forces driving Australian business

Mallesons' Directions Report 2026 is your essential guide to what’s top of mind for Australian directors and senior business leaders.  Now in its 16th year, co-authors and Corporate M&A Partners Meredith Paynter and Rhys Casey discuss the 2026 findings. Key findings include: Australian businesses are getting on with it, remaining committed to growth and investment despite softer optimism and ongoing economic and geopolitical uncertainty. Productivity has emerged as the defining business challenge, sitting at the centre of strategic decision-making and shaping priorities across investment, technology and organisational transformation. There is no AI 'sugar hit': while AI has become the top priority for business, many organisations are still working to convert significant investment into tangible productivity gains and measurable returns. The relationship between business and government is becoming more strained, as leaders call for policy settings that better support investment, innovation, competitiveness and productivity growth. Geopolitical uncertainty is reshaping business strategy, creating an opportunity for Australian businesses to build trust and act as commercially grounded diplomats in an increasingly fractured world.