Small and medium sized business owners are taking advantage of Commonwealth Bank’s unique Benefits finder tool to find ways to offset rising cost of living pressures, develop skills or explore new opportunities.
New figures show businesses are turning to CBA’s Benefits finder to explore options for rebates and concessions relating to wages, staffing and rising business costs, but also to find support for training or new business opportunities.
Businesses were connected to almost 18,000 claim opportunities, through Benefits finder in the 2023 financial year (July 1 2022 to June 30 2023), for benefits worth around $36.9 million. The majority of claims initiated through Benefits finder related to support for wages and employment, followed by training and business development.
Business customers have been connected to more than 44,000 claims, worth more than $105 million in benefits, since the digital tool was launched for businesses in June 2021.
Almost 2000 business customers have also taken advantage of CBA and More Telecom’s discounted NBNTM, broadband, phone or mobile services, saving more than $566,000 since the offering was launched to businesses in June 2022. Commonwealth Bank Executive General Manager Small Business Banking Grant Cairns said business owners were exploring Benefits finder for a wide range of reasons, including to help them better manage cost of living pressures such as staff and labour, and rising business costs, but also to support their development and growth.