When you’re starting a business, quick answers to complex questions are essential. As much as it may feel like you should be moving forward on your own, it’s important to remember there are lots of people who want to help you succeed.
During SmallBiz Week in Melbourne, CommBank’s General Manager for Working Capital Elizabeth Huxley said, “There’s a lot of help out there. Just ask a question; you’re not expected to know everything.”
Getting your operation up-and-running may be costly, but Small Business and Family Enterprise Ombudsman (ASBFEO) Bruce Billson, reminded attendees that the most precious resource may be the one in the shortest supply – time. “Most small businesses are time poor. We want to make it easy for small businesses to find the tools they need.”
Innovation through digitisation
Finding the right tools can automate tedious tasks, adding time back in your diary to focus on providing more value to your business. There are tools available to small businesses through various government agencies, the Australian Taxation Office and your financial provider. For example, CommBank’s Small Business Resources provides a range of content and tools from managing your business online to ways to start, run and grow your business.
“Digital is not a trend,” said CommBank’s General Manager for Digital Business Institutional, Soraya Alali. “It’s an enabler to solve business problems.”
Using digital tools and solutions such as:
- CommBank Invoicing1 through a Business Transaction Account2 can streamline various aspects of your operations including invoicing and payments processing.
- Integrating your online accounting software, including Xero®, MYOB® and QuickBooks® with your account can save you time on admin and manual reconciliations.
- Benefits finder can also help you find grants, rebates and concessions you may be eligible to claim as a small business.
Catering to the customers of the future
Different generations have different expectations. Leaning on digital tools will set your business up for future success. “Gen Z and Millennials are digital natives. They have high expectations of the customer experience and prioritise convenience,” said Helen Hey, Managing Director of CommBank-backed loyalty start-up, Cheddar.
With these changing expectations it’s essential to make sure your business is set up for success in the online world. With CommBank’s eCommerce solutions, you’ll be able to accept payments over the phone or online with a payment gateway that integrates seamlessly with your website.
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.