Commonwealth Bank is pleased to partner with the Australian Business Forum (ABF) to present the inaugural SmallBiz-Week – a major business event which will bring together thousands of business owners, government agencies and industry leaders in Melbourne from 17-19 May 2022.
As face-to-face networking returns, new industry data* shows small business owners are planning ahead, with 40 per cent concentrating on growth over the next twelve months. Those industries most focused on growth are Retail (52 per cent), Manufacturing and Agriculture (50 per cent), Transport, Wholesale and Utilities (46 per cent) and Professional Services (40 per cent).
There is renewed optimism in the sector with more than a third of SMEs (35 per cent) believing economic conditions will continue to improve. Over the next three months, nearly half of all SMEs (47 per cent) plan to purchase new office equipment and invest in their businesses more broadly, spending on number of staff employed (24 per cent), capital investment (22 per cent) and marketing (22 per cent).
CBA Group Executive, Business Banking, Mike Vacy-Lyle said it’s pleasing to see renewed confidence in the sector, as small businesses play an important role in the ongoing strength of their local communities and the broader Australian economy.
“CBA is excited to be the Naming Sponsor of this year’s SmallBiz-Week, which will be a significant and meaningful event on the small business calendar. We are looking forward to the energy that comes from having thousands of business owners come together to connect, engage and learn face-to-face.” For the full article visit CBA Newsroom.