17 February 2020
The ABA strongly supports the Government’s initiative to help small businesses grow by coinvesting with banks to establish this Australian Business Growth Fund. The Fund is designed to provide equity finance to qualifying businesses across a range of industries and locations.
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The ABA submission to the Senate Economic Committee, the submission addresses the importance of certainty regarding capital raises and distributions to banks.
Australian banks operate in a competitive and dynamic environment. They compete with each other and with other financial service providers, including tech companies, to provide products and services to consumers. Given the pace of technological change and transformation, banks are constantly innovating their customer offerings and processes to remain competitive. To compete effectively, banks continually adapt to respond to customer needs and preferences. As such, banks have, over the past several decades, become increasingly digital.
This submission details the ABA’s views on key areas of focus including the future of work; equal opportunities for women; future labour force participation.