Labor leader Anthony Albanese has so far fallen short of securing sufficient seats to secure a majority government, although the coalition was clearly defeated in Saturday’s poll, which resulted in a larger crossbench.

But business was quick to throw its support behind Albanese as the new prime minister and his team.

Australian Chamber of Commerce and Industry chief executive Andrew McKellar stands ready to work with Albanese and says the first priority must be ending the most acute labour and skill shortages in 48 years.

“Small businesses cannot afford for the next federal government to drag its heels on growing Australia’s workforce,” he said in a statement.

He said the ACCI will seek to be an active participant in Labor’s proposed employment summit, while the new government must also have a practical plan to ease the rising costs and supply chain bottlenecks holding back business.

Ai Group chief executive Innes Willox said there was a shared objective of raising real wages and profits.

“Most fundamentally this will require a firm commitment to raising productivity both through government policy initiatives and in Australia’s workplaces,” Willox said.

He said the new government has a clear mandate to bring an end to the damaging ‘climate wars’ and concentrate on giving coherence and momentum to the substantial transitions Australia must manage to reduce greenhouse gas emissions to net zero.

Property Council of Australia chief executive Ken Morrison said he has worked closely with Albanese and his senior colleagues in opposition over many years and knows the experience they bring to their new roles.

“We look forward to working with an Albanese Government on the pressing issues of housing affordability, the skills challenges facing business and helping our cities and suburbs thrive,” he said.

 – AAP