Business Banking news and advice

ANZ is starting to gain ground in business banking customer satisfaction levels, while Commonwealth Bank (CBA) still holds a significant lead over the Big Four banks, according to the latest DBM Consultants Business Financial Services Monitor (BFSM).

Small businesses in Australia are now overdue on around 62 percent of their combined $10.4 billion debts but the liability is not equal between states, reports the News Limited Network.

Commonwealth Bank remains the frontrunner in the latest DBM Consultants' Business Financial Services Monitor (BFSM), making the Commonwealth Bank the undisputed champion of the business bank account world.

The Commonwealth Bank (CBA) is surging ahead of the other Big Four banks when it comes to small business bank account satisfaction.

Businesses are today applauding news of the ANZ's decision to pledge $1 billion to assist startups with funding for their business banking.

Businesses in Australia have growing optimism and confidence on the outlook of the economy, investing and business bank accounts in the coming years.

Roy Morgan's recent Business Banking Report shows that Westpac have edged further ahead of the Big Four with business banking customer satisfaction.

Some of China's most prominent banks are looking to increase their influence down under. According to the Wall Street Journal, renowned institutions like the Industrial & Commercial Bank of China (ICBC) are planning to "muscle in" on Australia's syndicated loan market. Leaders at the bank are looking to issue more business loans to support major projects across the country – and the booming mining sector represents an ideal investment opportunity. Many economists believe that Australia has a "two-speed economy" that separates the majority of companies and enterprises in the hugely lucrative mining industry. The government recently announced that some resource projects that are in the pipeline will require a further $450 billion of funding to complete. However, Han Ruixiang, the Sydney-based head of Australian operations for ICBC, told the news provider that the lender would not be solely concentrating on this sector. "We have a strong interest in resource deals but we're not focusing only on them; as a commercial bank we lend across the board," he was quoted as saying. Have a question about business banking? Ask the money gurus at Mozo Answers.