Monday, June 17, 2024

Small businesses claiming through CommBank

New data released by Commonwealth Bank reveals 12,500 Australian businesses initiated approximately $93 million in claims through CommBank’s digital feature, Benefits finder, between June and December 2021.

The dedicated Benefits finder for Business dashboard provides access and simple instructions on how to apply for business-specific financial benefits such as state and federal Covid-19 support measures, growth-focused grants, environmental rebates, and also non-financial benefits such as free training courses.

CBA Executive General Manager, Small Business Banking, Clare Morgan says CBA is continuing to invest in digital tools and products to make it easier for customers to run their businesses, and that includes expanding Benefits finder.

“We’re moving quickly to keep updating the digital feature for businesses, with new grants, rebates and other benefits continually added every month and in response to real-time events, such as the major flooding across Australia’s east coast,” says Ms Morgan.

“Every business has different needs and Benefits finder helps them access support more quickly to, ultimately, put more money back into their business.”

During this time, more than 100,000 businesses visited Benefit finder between June and December 2021. The top business benefits claimed during this period were:

  1. NSW Covid Business Support Grant
  2. Skill Finder business courses
  3. Youth Jobs Path
  4. New Enterprise Incentive Scheme
  5. Small business fees & charges rebate.

Of the claims for financial business benefits (grants and rebates), the average value of claims initiated by a business via Benefits Finder is just under $11,000.

In total, Benefits finder has helped CBA retail and business customers commence more than 1.8 million claims and save more than $500 million since launch in September 2019.

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