The Commonwealth Bank is giving the small to medium business community a chance to share in a $30,000 support package, in an attempt to help the sector that accounts for more than 35 percent of Australia’s economy.
When the Reserve Bank cut interest rates, home owners arm-wrestled the banks into passing on the cut. But, as Rohan Gamble finds, small businesses aren’t as lucky:
“Small businesses aren’t just missing out on full rate cuts, business lenders are taking almost double the amount of time to implement the rate reductions.”
The four major banks are closing the gap in business satisfaction against smaller rivals. Satisfaction with the Big Four climbed to a new record high in November, continuing a trend seen throughout 2011, according to the DBM Consultants Business Financial Services Monitor.
The Commonwealth Bank (CBA) has rolled out its Everyday Settlement feature, designed to give businesses instant access to funds from their merchant terminals.
The Brisbane Supreme Court won’t assist the Commonwealth Bank (CBA) to recover a $13.5 million loan, after it ruled Billabong entrepreneur Matthew Perrin forged his ex-wife’s signature to secure the money.
The Commonwealth Bank has employed Facebook’s location-based marketing expertise to give away a year’s worth of free movie tickets to anyone who opens an Everyday Account with the bank after “checking in.”
The bank wars have just begun and small business owners may find themselves in the unusual position of having a whole lot more bargaining power than you might otherwise think.
October’s Commonwealth Bank Business Sales Indicator (BSI) remained flat in October after contracting for ten consecutive months, suggesting retail spending has hit a plateau prior to the the Christmas retail period.
Commonwealth Bank of Australia (CBA) chairman David Turner has applauded Australia’s banking regulation during the Global Financial Crisis for helping elevate CBA to the top 15 banks in the world by market capitalisation.
Housing affordability in Australia is close to record lows according to the HIA-CBA Housing Affordability Report for the June quarter 2010.
