CommonWealth Bank supports small businesses impacted by Omicron

Mike Vacy-Lyle, Commonwealth Bank Australia's Group Executive for Business Banking

CommonWealth Bank Australia‘s Group Executive for Business Banking, Mike Vacy-Lyle, said that he welcomed the NSW Government’s new support package to support small businesses.

Mike Vacy-Lyle therefore wants to remind small businesses and entrepreneurs across the country of the financial measures that are available to assist them through the current wave.

“We know that many small businesses are trying to navigate the challenges being created by the Coronavirus Omicron wave including staffing shortages and supply chain disruptions.”

CommonWealth Bank offers support in raging pandemic

“So far, we have experienced the pandemic’s impact on businesses in varying degrees, depending on the industry, the life stage of a business and their geographic location.”

“While our data shows that the majority of our business customers remain resilient in the face of the COVID-19 Omicron variant, we know there are some that need assistance and we will continue to do what we can to ensure businesses are supported to navigate this period.”

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Mr Vacy Lyle said that of those businesses that are seeking for financial assistance, about 35% were based in New South Wales and additionally, they weighted to the hospitality sector.

“As Australia’s largest bank, we’re committed to supporting small businesses and we will do what we can to ensure that small businesses countrywide are set up for the future.”

“CommonWealth Bank has a range of support measures on offer and we encourage businesses to speak to us about how we can help and tailor solutions to meet their needs.”