SMEs gear up for growth in 2024 – CBA

A recent Commonwealth Bank (CBA) study conducted in collaboration with YouGov has revealed that 80% of small and medium-sized enterprises (SMEs) are strategically planning investments to fortify their customer propositions and spur growth throughout 2024. The findings coincided with CBA data indicating a positive trading period for SMEs, with a 5.4% increase in earnings during the second quarter of FY24 compared to the first quarter. “Despite a difficult environment posed by inflation, rising interest rates, and workforce challenges, the research shows small business owners are planning to take proactive action to drive growth over the coming months,” said Rebecca Warren (pictured above), executive general manager of small business banking at CBA.

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