NAB today welcomes the announcement by the Federal Treasurer, the Hon Josh Frydenberg MP, of policies to support small business, including the Government’s support for the establishment of a Business Growth Fund in Australia.

NAB Chief Customer Officer, Business and Private Banking, Anthony Healy, said we have a long and proud history supporting SMEs, and as the country’s largest business bank we recognise that for Australia to continue to grow, SME businesses need better and easier access to capital.

“One of the ways we have addressed this is by providing unsecured lending through NAB QuickBiz, helping SMEs borrow against the strength and cash flow of their business rather than physical bricks and mortar”, said Mr Healy.

“The Australian Business Growth Fund can help this further by providing a way in which SMEs can receive long term equity capital investments to grow their business, invest in new technology and create more jobs, which is why NAB is supportive of the concept.

“We do believe there is more that can be done to provide SMEs with access to equity capital, and we take confidence from the UK Business Growth Fund having operated successfully for several years.

“We look forward to further discussions with the federal government and other participants about the fund’s potential establishment soon,” said Mr Healy.