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#Commonwealth Bank

Economy

Hospitality, tourism and retail showing promise across regional Australia: CommBank Report

Spending is up across regional Australia, moving past the spend recovery seen in metro areas, according to new data from Commonwealth Bank.

Guillermo Troncoso · 2 min
Locked

Several banks face action from ASIC over add-on insurances that have “failed customers”

The financial regulator is threatening action against lenders including the major banks over the sale of add-on loan and credit card insurance (CCI) that “has consistently failed consumers”. An Australian Securities and Investments Commission (ASIC) report released today found that consumer credit insurance represented extremely poor value for money and was regularly mis-sold. ASIC’s report […]

Loren Webb · 2 min
Funding | Investment

LocalAgentFinder closes $5.5m round with News Corp-backed fund as a media partner

Real estate agent comparison service LocalAgentFinder has closed an oversubscribed funding round, having not only raised $5.5 million from investors but achieved a pre-money valuation of more than $60 million. The round was led by Scaleup Mediafund, which is owned and supported by News Corp Australia, Network Ten, Nova Entertainment, and Fox Sports Australia, together with […]

James Harkness · 2 min
Locked

Businesses with multiple service channels are ‘scrambling’ to meet customer expectations

Leading companies across a range of sectors – including finance, utilities, government, education, automotive and telecommunications – need to lift their game when it comes to customer experience (CX), a new study reveals. CX consulting firm, Customer Service Benchmarking Australia (CSBA), studied 3000 customer interactions with 136 companies in Australia, assigning each a score out of 100 […]

James Harkness · 2 min
Locked

Businesses are earning $2 for every $1 spent on innovation, Commonwealth Bank study finds

Innovations implemented by Australian businesses over the past year have contributed $110 billion to the economy, according to research undertaken by the Commonwealth Bank The second annual CommBank Business Insights Report, which looks at innovation practices and performance of companies with two or more employees and an annual turnover greater than $500,000, indicates that businesses […]

James Harkness · 2 min
Locked

Partnerships driving the local fintech sector

Financial technology startups are growing in Australia, from less than 100 in 2014 to approximately 579 companies today. Many financial businesses see this as a direct threat, but if our country is to have any hope of building a world-class financial services technology industry, the future lies not in competition, but in collaboration. We are […]

Michael Rom · 2 min
Entrepreneur

Indigenous islanders win Japanese contract

Even the toughest of business people are taking their hats off to the Tiwi Islanders nowadays. Only seven years ago, the islanders committed themselves to resurrecting an abandoned acacia plantation business on their homeland. They had no money, no trained forestry staff, no port suitable for woodchip and no export market. Tiwi sought and received expert […]

Nigel Adlam · 2 min
Locked

What can big businesses learn from start-ups and entrepreneurs about innovation?

This year, Microsoft purchased LinkedIn for $US26.2bn and Uber was valued at $US62.5bn. How is it that a handful of founders, starting out with little more than an idea, are managing to create multi-billion dollar businesses, when our largest companies with far greater resources, are struggling to replicate that performance? When it comes to enterprise, a poorly-defined […]

Peter Bradd · 2 min
Leadership Advice

Businesses must embrace innovation and ‘think like start-ups’

Research findings released today have shown that smaller Australian businesses value innovation more than larger businesses. The results, revealed by the Commonwealth Bank Business and Innovation Study, also showed that roadblocks to innovation include a lack of ideas, time and resources, business partners who are all talk and no action, and a lack of data […]

Daniel Jacobs · 2 min
Banking

Study reveals SMEs spend 10 days per year managing finances

The Commonwealth Bank has introduced a Real-time Alerts feature for their Business Transaction Accounts following a new study that revealed small businesses spend more 10 days a year managing finances. According to the survey of over 500 small business decision makers, 75 per cent of the time spent included tasks such as chasing payments, scheduling […]

Daniel Jacobs · 2 min
Economy

Soft growth in spending

The February Business Sales Indicator from the Commonwealth Bank has revealed a modest growth of 0.1 per cent for the second month in a row, highlighting a decline in the growth rate during the last five months.

Guillermo Troncoso · 2 min
Economy

SMEs fail to reduce tax liabilities

The Commonwealth Bank has urged small to medium sized businesses to better prepare for the end of the financial year and begin their tax preparations. Figures released by the bank suggest that nearly one third of SMEs (29 per cent) have not even started the groundwork to fulfill their tax obligations. The research suggests that […]

Joe Kelly · 2 min
Locked

Privacy: legitimate concern vs. paranoia

Regardless of whether you believe privacy concerns are warranted, there’s a decent ROI for those businesses who address them.

Stephanie Zillman · 2 min
Locked

Risky business for Aussie entrepreneurs

The majority of Australian entrepreneurs are risk takers and competitors, according to new research.

Gina Baldassarre · 2 min
Growing

CommBank announces return of Small Business Forums

Commonwealth Bank has announced the return of the free Small Business Forums to help local business owners grow their business through effective implementation of technology.

Tasnuva Bindi · 2 min
Locked

New CommBank site signals people’s spending habits

CommBank’s brand new website, Signals, looks at consumer buying patterns and lifestyle trends to help Australians make better informed financial decisions.

Tasnuva Bindi · 2 min
Locked

Why subtle marketing is effective

Marketing is any type of communication – any part of the business that communicates with the outside world is marketing. The best marketing is done subtly. So what is subtle marketing and who does it the best?

Michael Kava · 2 min
Advice

What can the big four offer your business?

All the big banks say they’re the best for small business, but they also all want a piece of this large part of the market. To cut through the confusion, here’s an in-depth look at what each bank claims to have to offer SMBs.

Jen Bishop · 2 min
Economy

Gains in consumer spending reversed in July

All improvements in spending recorded during May and June have been reversed, according to a leading index, as consumer sentiment proves it’s far from recovered.

Lorna Brett · 2 min
Economy

Recovery consolidates as business sales rise steadily

The recovery in economy-wide spending appears to have consolidated as business sales remain positive, according to the latest Commonwealth Bank Business Sales Indicator (BSI).

Carly McKenna · 2 min
photograph
Growing

CBA kicks off 2012 small business forum program

Small business owners around the country are being invited to register for the Commonwealth Bank’s free annual forum program, which kicks off next month.

Lorna Brett · 2 min
Locked

Calling women in business! CBA Women in Focus competition kicks off

Local women are being invited to enter the Commonwealth Bank Women in Focus Community Builders competition series, and share their stories to go in the running to win a trip to Mt Kilimanjaro or New York Fashion Week.

Lorna Brett · 2 min
Locked

Rate cuts make no difference to business bank satisfaction

Businesses are no more satisfied with the major banks now than they were in October, despite two interest rate cuts in November and December.

Lorna Brett · 2 min
Economy

Banks drag the chain on business rate cuts

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.”

Rohan Gamble · 2 min