#Nab
NAB survey signals upward trend for retail and services SMEs
Business Conditions over December 2023 eased further, maintaining the slow downward trend that occurred over 2023.
Business confidence gets election bounce
Business confidence continues to be bolstered by the coalition’s election win but NAB’s quarterly survey of companies shows conditions have deteriorated. Business conditions have continued to deteriorate and now sit below average for the first time in five years, NAB’s latest quarterly companies survey shows, but there has also been a post-election jump in confidence. The […]
NAB facing potential super class action
NAB faces potential class action proceedings over excess superannuation fees levied by its wealth arm. William Roberts Lawyers is inviting MLC Super fund customers to sign up to the no-win, no-fee action, which is backed by litigation funder IMF Bentham and will seek compensation plus interest for the excess fees. The action will allege that, […]
Westpac H1 profit falls 22% to $3.296b
Westpac chief executive Brian Hartzer says the bank’s first-half results are disappointing. Westpac has held its interim dividend despite the cost of refunding customers helping drag down first-half profit by 22 per cent to $3.296 billion. Australia’s second largest bank set aside $617 million to cover refunds and associated costs following the financial services royal […]
Channel immaterial – why savvy retailers should strive to give shoppers a seamless customer experience
With more Australians splitting their shopping dollars between online and in-store purchasing, it behoves retailers to ensure they’re offering a superlative customer experience via both channels. In the 12 months to June 2018, Australians spent a whopping $26.5 billion on online retail, according to the NAB Online Retail Sales Index. The Ibisworld 2018 Online Shopping […]
NAB full-year profit drops 14% to $5.7bn
“We are determined to put things right and are taking steps to build a better bank.”
NAB first to face court over fees issue
Bank “working hard” to regain trust.
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 […]
NAB “first off the mark” with shorter, plain English loan contracts for small businesses
National Australia Bank’s decision to introduce shorter, plain English loan contracts for small business borrowers has been welcomed by the Australian Small Business and Family Enterprise Ombudsman. According to the bank, more than 130,000 business owners will benefit from the complete overhaul of its existing business standard loan form contract, which involved simplifying contractual clauses, […]
Chaotic, rewarding hyper-growth: zipMoney’s Larry Diamond on the fintech startup’s success
Any way you slice it, 2017 has been a blockbuster year for zipMoney. The Sydney-based fintech startup – a provider of point-of-sale credit and digital payment services – has been onboarding around 1200 new customers per day, with CEO Larry Diamond attributing this growth to traction with millennials. Significantly, Zip landed the two largest fintech deals […]
UrbanYou’s co-founder on the ‘game-changing’ moments in her startup’s ‘rollercoaster’ story
Networking with influential door-openers, eager to help female-led startups, helped the brains behind UrbanYou – an on-demand platform for household services – fast-track business growth, with their most recent feat being a $1m capital raise within the space of two weeks. To date, UrbanYou has facilitated over 20,000 services, totaling $3 million, for its 5000 […]
‘Digital by default’ millennials are the most optimistic SME owners, NAB whitepaper shows
Amongst Australia’s SME owners, millennials are not only more optimistic about the future, they are also more likely to expand their business in the near future, according to a new whitepaper from NAB. Titled The Moments That Matter: Understanding Australian SMEs, the whitepaper reports on qualitative and quantitative research undertaken by IPSOS on behalf of […]
Why start from scratch? The business benefits of buying an established healthcare practice
Purchasing an established healthcare practice could help secure a medical practitioner’s financial future. It’s not uncommon for business-minded practitioners to look at setting up their own practice once they feel they have secured a firm list of clientele. However, few consider the option of buying into an established practice – given the right circumstances, this option can yield the best outcome […]
Make it personal: Renece Brewster discusses using video to build business relationships
Inspired by the power of videos to trigger an emotional response, Melbourne businesswoman Renece Brewster has made a career out of using the technology to deepen the connection businesses have with their staff and customers. She is the co-founder and CEO of video production company Visual Domain, and the founder and CEO of personalised […]
Business confidence holds as Budget approaches: NAB survey
The findings highlight relatively unchanged conditions of subdued confidence, which the NAB says points to a lack of movement towards “a sustained economic recovery developing”.
Australian business confidence falls further
Australian business confidence is at its lowest since just before last year’s federal election, according to figures released from the National Australia Bank today.
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.
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.
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.”
5 tips to avoid holiday cashflow woes
Cash is like oxygen for small business owners, and keeping a close eye on cashflow is important—especially during the holiday period when it can be hard to contact your debtors.
Sydney banks voted better than Melbourne’s
New financial research has shown Australians are more satisfied with Sydney-based banks than Melbourne-based ones.
How do you choose the right bank for your business?
We asked three bankers their opinion on how small business owners should choose their business bank, the questions they should be asking, whether they need a separate bank for their personal affairs and how important fees are.
SME optimism drying up
SME business confidence slid again in the September quarter, with many reporting feeling less optimistic about future activity thanks to volatility in global financial markets and the high Australian dollar.
Westpac and CBA scoring well with micro businesses
The major banks are becoming increasingly different in their approaches to the business banking market, according to recent customer satisfaction results.