“I often get asked questions like: ‘How do I grow my business? where do I get more customers?’” said CommBank’s Executive General Manager of Small Business Banking Clare Morgan at the 2022 SmallBiz Week in Melbourne.
While in the past the answers to this might not have been easy, Clare pointed to the work CommBank has been doing to give businesses personalised and actionable insights using the power of data.
Having that data can help you identify opportunities for growth and better serve new and existing customers. Solutions such as Daily IQ1 – available for free in CommBiz and NetBank – can provide tailored business insights directly to you to help optimise your cash flow, enhance your performance and grow your customer base.
Improving access to new sources of funding
Once you know what you want to do, the next step is to figure out what you need to execute on the vision – and know how you’re going to fund it.
What we’ve heard from businesses is that it can be hard to get finance. “We’re helping to solve for this with our new Stream Working Capital2 option,” said Clare, “which can make it simple for businesses to manage the ups and downs of their cash flows.” Stream Working Capital is a solution that lets you use unpaid invoices as loan security (instead of more traditional security like property) to access the funds you need for your next job while waiting to get paid for the last one.
Being a business owner means you don’t just want to get the piece of equipment you need – you also want to know if you’re being smart with your spending. That’s why we offer a range of financial pathways to connect you with the tools and equipment you need – making it fast and simple – while providing flexible options to suit your particular requirements. This can include pricing discounts when you choose to finance3 energy efficient cars and equipment such as agri machinery, construction and earth-moving equipment, batteries and charging equipment, saving you even more money.
CommBank is proud to partner with businesses at every stage of their journey, from starting, running or growing your business. CommBank provides insights, tools and services on a range of business needs, meaning you don’t have to go it alone.