AUSTRALIAN BANKERS' ASSOCIATION SMALL BUSINESS FORUM IDENTIFIES FOUR KEY PROJECTS

The 21-member Forum will divide into four working groups to examine:

·        Relationships between small businesses and their banks

This project will look at what small businesses further require from their banks which may lead to a better understanding of their respective needs to allow the facilitation of business opportunities between the two groups. This might lead, for example, to a financial literacy initiative which may assist small businesses.  In addition, it will examine how banks can best deliver information on their products - whether this be through product specialists, brokers, accountants or other business advisory service providers. 

·        Information provision by banks to small businesses

This project will examine matters including the methods by which banks provide product and pricing information to small businesses and whether some form of product comparator may assist small businesses shopping for the product which best suits their needs.

·        Service

This project will look at potential service innovations, in particular, the development of capabilities and services in the online world which may assist small businesses in managing their relationship with banks. An example would be the importation of payroll and/or creditor information, payments templates etc, to create efficient information flows between the bank and its small business customer, for processes such as credit applications.

·        Solutions

This project will seek to increase understanding of how banks view small businesses’ credit risk, while maintaining sound prudential management, and whether small businesses can make any changes to their business or financial structures to allow them greater access to credit.

David Bell, Chief Executive of the ABA, said: “This Forum has been convened so that the industry can engage in two-way communication, and then in turn, the ABA can inform its members and provide effective and timely input into the industry’s small business agenda.”

“It is providing an important role in shaping the ABA’s understanding of the differing perspectives in the small business market.”

“Obviously the outcomes from each project are not yet known, but participants will have the opportunity to explore all the issues and then present their recommendations for the banking industry’s consideration.”

Jennifer Dalitz, spokesperson for the Small Business Forum, and Director of Dalitz and Associates, said: “We are pleased that the ABA has brought together such a diverse group of people who are committed to enhancing the small business sector.”

“Included in this Forum are small business people, academics who study the sector, professional associations and representatives of state and federal departments. We think that this diversity of opinion will lead to excellent feedback for the banking industry on small business issues.”

“The Forum members are investing their time for the benefit of the small business sector – if both the banking industry and small businesses better understand each other and their needs – this will lead to positive outcomes.”

Twenty-one Forum members are participating in the discussions with the industry. They have been selected because they own and/or manage a successful small business, have an ability to represent a market segment, possess a detailed knowledge of their market segment, particularly in relation to banking needs; and take an active interest in their market and the small business community.

The ABA chose the forum representatives after advertising for participation in a national newspaper in May this year. The Forum first met in June and there have been three meetings since then.

Notes for editors:

Please see next page for a list of forum members.

Members of the Australian Bankers’ Association’s Small Business Forum

Michael a’Campo	Onde Restaurant
Richard Brooks	COSBOA
Tony Burke	Australian Bankers’ Association
Rebecca Cherry	Cherry Enterprises
Chris Connolly	The University of New South Wales
Neil Colquhoun	Colquhouns
Jennifer Dalitz	Dalitz and Associates Pty Ltd
Chris Dionne	Shirlaws Pty Ltd
Jason Gehrke	Kwik Fix International
Keith Goss	BMG Finance
Judy Hartcher	CPA Australia
Su McCluskey	Cluskers Square Meaters
Terry McGovern	SRS Australia
Susan Molony	Manuco Electronics
John Petty	Petty Presentations
Blake Roet	Grimwade Capital
Douglas Wright	Wrights Pty Ltd
Representative/s nominated from the following offices to attend meetings*	-   Office of Small Business, Department of Industry Tourism and Resources -   Office of Small Business, Victorian Department of Innovation, Industry and Regional Development -   NSW Department of State and Regional Development -   WA Small Business Development Corporation

*Please note:

-          ABA has asked for a representative to attend from the State or Federal organisation. The organisation is represented, but the representative chosen may change from meeting to meeting.

-          Membership of the forum will be on a yearly basis. This allows for sufficient time to discuss and implement plans, while also allowing for other representatives to have an opportunity to participate.

For further information:

Heather Wellard
ABA Public Relations
Phone: 02 8298 0411
Mobile: 0409 830 439

ENDS