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CBA launches competition to give SMBs a $10,000 cash injection

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.

The BetterBusiness Booster competition aims to help recognise and reward the role of SMEs across the nation, including a $10,000 cash injection and 12 months of business coaching with Peter Switzer, one of Australia’s leading business and financial commentators.

Matt Comyn, Commonwealth Bank’s executive general manager of local business banking said: “Small businesses are the backbone of the Australian economy, so it’s important that we continue to support their growth and development.”

The interactive online competition, hosted on the CBA’s business Facebook page, is encouraging everyday Australians to nominate and vote for either a business they own, work in, or admire in order to take advantage of the initiative.

Voters also go into the draw to pocket $10,000 simply by participating in the contest. Competition finalists will receive a $1,000 cash injection and a trip to Sydney to meet with other leading senior finance experts to further develop their business.

“For many businesses, this could make quite a difference to their day-to-day operations,” said Comyn. As a new financial year approaches, Comyn suggests business owners “take a fresh look at their operations and ensure they take advantage of future opportunities.”

Nominations are open for the next three weeks, after which an expert judging panel will name five businesses as finalists.

For more information and to nominate a business for the BetterBusiness Booster, visit the Commonwealth Bank Business Facebook page.

Nominations will be accepted until Friday 4 May, 2012.

Good luck!