Commonwealth Bank of Australia (CBA) has welcomed today’s (October 16 2020) announcement by the Federal Government to establish the Australian Business Growth Fund by committing $100 million in support of the Fund.
Matt Comyn, CBA’s Chief Executive Officer, said: “Small businesses are the backbone of our economy – they employ more Australians than any other sector and they contribute immense value to communities right across the country.
“As Australia’s biggest bank, we are very aware of the challenges many small businesses face when trying to grow, particularly during these challenging economic times.
“We’re also very aware of the role we can play in helping address these challenges, which is why we expressed our interest in the Government’s plans from the outset and are pleased to have been involved in helping the Fund reach this milestone.
“We are strong supporters of the Fund and believe it can make a real difference to help businesses achieve their full potential.”