New dedicated support for veteran-owned businesses

Commonwealth Bank has today announced a new team of specialised business bankers to support past and present members of the Australian Defence Force (ADF), and their families, who are looking to start or grow their own business.

The specialised bankers will provide tailored support to the veteran community to help them transition from service to entrepreneurship. Veterans will also benefit from discounts and offers on business support materials and technology to help manage their business operations.

CBA’s Executive General Manager of Small Business Banking, Clare Morgan, said the team of specialised bankers – otherwise known as Veterans Business Bankers – includes employees who are members of the veteran community, including Reservists in the ADF as well as family of service members.

“Some of our team have walked the same path and understand how best to help veterans pursue their next endeavours in life.

“Veteran entrepreneurs will be able to access practical advice about how to create a successful and sustainable business as well as support to build connections with others in the veteran business community.”

CBA is also pleased to announce a partnership with the Veteran Community Business Chamber to deliver a financial literacy program to the veteran community, including sessions on managing cash flow, and leadership and marketing – equipping veterans and their families with the resources and skills they need to transform their businesses from ideation to creation.

Veteran Community Business Chamber Co-Founder, Pete Liston said: “The partnership between the CBA and VCBC is all about empowering a 'can do' attitude. Veteran community members in small businesses are highly motivated, aspirational and focus on delivering amazing customer service. Both CBA and VCBC are here to support strong and resilient veteran community businesses."

CBA will also be sponsoring the 2022 Prince’s Trust Australia’s Beyond Service Awards. The Commonwealth Bank Business of the Year Award will recognise an outstanding veteran community business.

“We are proud to work with the Prince’s Trust to empower veterans and their families, and help them build the confidence, skills and networks to thrive on their business journey,” Ms Morgan said.

Prince’s Trust Australia Chief Executive Officer Michelle Endacott said: “We are proud to work with veterans and Australian Defence Force families to build the confidence, skills and networks they need to safely explore self-employment, and engage successfully with the rapidly changing world of work.

“Our new Beyond Service awards, sponsored by the Commonwealth Bank, will recognise those businesses which have excelled.” More than 6,000* people transition out of the Australian Defence Forces each year, many with unique skills and experience that can contribute valuably to the community and economy.

There are estimated to be over 30,000* veteran community owned businesses in Australia with businesses across every industry and in every corner of Australia providing quality services and driving employment.

For more information or to request a call with a dedicated banker, Veterans and their family members can visit www.commbank.com.au/veterans

* Data supplied by VCBC.

Image credit: Department of Defence. © Commonwealth of Australia.