Sydney, 26 July, 2007: The Australian Bankers’ Association’s (ABA) member banks have worked together to deliver a new website where small business people can access information which may assist in running and growing their enterprises.
 
The ‘Smarter Banking for Small Business’ website - www.smallbusinessbanking.com.au – is an initiative of the ABA’s Small Business Forum.

The Forum identified a need to provide small businesses a central point where information can be accessed on business banking as well as financial literacy materials on professional management topics. The Forum comprises small business owners, representatives from the Federal and State Governments as observers, and was convened so that the industry could engage in two-way communication with small business owners.

The website features information on:

ABA Small Business Forum member, Trevor Beckingham, is a certified practicing accountant and Fellow of CPA Australia and represents the Queensland Government on the Forum. He said running a small business isn’t just about finance, it’s about know-how.

“Access to financial literacy information is an important component of any enterprise. To remain viable, small businesses must adopt a professional approach to managing their business. This website helps explain the key principles which underpin successful small business management.”

“The online resources can help small business people work smarter not harder which is a must in today’s competitive environment. The convenience of having the tools and information that can assist your business, accessible from your desktop computer, can’t be underestimated,” Mr Beckingham said.

Another Forum member Richard Brooks, Director Tyne Solutions Pty Ltd, and Deputy Chair of the Council of Small Business of Australia (COSBOA) provides small business management services and manages a number of industry associations servicing the small business sector.

“I know as a small business operator and through discussions with my clients, association members and at COSBOA, that researching today’s financial products can be time-consuming and often confusing. The Forum has recognised this issue and has come up with a convenient online solution for small business people, connecting them with Cannex and Infochoice so they can compare and contrast products. This initiative has been welcomed by COSBOA because the ABA has heard our call for industry associations to provide the small business sector with financial literacy resources so they can make informed decisions using a single entry point to access the information.”

Australian banks are investing considerable resources into serving our small business community which is an important customer segment.

David Bell, Chief Executive of the ABA, said: “The banks’ strategies are very innovative, they are increasing ranges of products and service options and offering flexible solutions. This is because banks are not only competing aggressively with each other for market share but they are also being challenged by other competitors such as other financial institutions, non-banks and companies that, for example, offer financing for computers or other equipment.

“There is product innovation in this market – examples include accounting software, enhanced Internet banking capability, merchant facilities and investment options – specifically designed for small businesses.”

Mr Bell encouraged small business people to take advantage of the website but also noted that while initial research could be completed, it still made sense to talk to a banker and other independent financial advisors before making important financial decisions.

Current members of the Australian Bankers’ Association’s Small Business Forum

Trevor Beckingham	Representative of the Queensland Government
Richard Brooks	Council of Small Business of Australia
Tony Burke	Australian Bankers’ Association Inc.
Rebecca Cherry	Cherry Enterprises
Neil Colquhoun	Colquhouns
Terry McGovern	SRS Australia
Susan Molony	Manuco Electronics
Blake Roet	Grimwade Capital
Douglas Wright	Wrights
Chris Doudle	Strategic Public Relations
John Lenne	BT Appliance Sales & Services P/L
Rolf Howard	Owen Hodge Lawyers
Susan Just	Playsafe Fencing P/L
Dean Morelli	Aussiepay
Heidi Dening	Jump Start Outdoor
Gavan Ord	CPA Australia
Representative/s nominated from the following offices to attend meetings*	- Federal 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 as observers. The organisation is represented, but the representative chosen may change from meeting to meeting.


For further information:

Kerrina Lawrence
ABA Public Relations
Phone: (02) 8298 0411
Mobile:  0437 507 146