COSBOA and Commonwealth Bank in new partnership to support SMBs

In acknowledging the vital importance of small businesses in Australia, Commonwealth Bank has signed a partnership agreement with COSBOA, to bolster support to the sector.

The partnership will see SMBs access timely business and economic insights through COSBOA podcasts and the Small Business Perspective Report.

SMBs to harness COSBOA and Commonwealth Bank

SMBs will hear how other businesses operate and get a voice in the discussion on SMB policy issues among regulators, politicians, and SMB leaders at the National Business Summit.

CBA Group Executive Business Banking Mike Vacy Lyle said, “Small businesses are an integral part of Australia’s economy and we appreciate the unique value that each business brings.”

“This partnership will help inform and educate business owners on relevant topics, and provide useable insights and support for their businesses. It will also help ensure small businesses continue to have a strong voice advocating for them.”

To kick-off the partnership CBA CEO Matt Comyn and COSBOA CEO, Alexi Boyd, recorded the first podcast in an ongoing series that will provide monthly insights to small business.

It covers the current support available for small businesses impacted by COVID-19 restrictions, what the economic recovery may continue to look like, and the importance of doing everything we can to support each other and businesses to get through this current period. 

Alexi Boyd, COSBOA CEO said, “We are delighted to be able to partner with the largest bank in the country and this partnership will be a major benefit for the 800,000 small businesses we reach through our professional association membership.”

The COSBOA and CBA partnership involves

  • The Small Business Perspective report, a leading annual small business survey over a 12-month period containing business insights and analysis
  • COSBOA Member and Stakeholder Roundtable Communiques, discussions and podcasts
  • Major sponsor of the National Business Summit

“This partnership supports the small business community and provide relevant and timely insights and information, particularly through the current challenges of lock-downs.”

“This includes business support measures such as repayments deferrals, bridging finance and fee waivers,” Mr Vacy Lyle said.