Matt Comyn, CBA’s Chief Executive Officer, said: “Small businesses are the backbone of our economy. They employ more Australians than any other sector and they contribute immense value to communities right across the country.

“As Australia’s biggest bank, we are very aware of the challenges many small businesses face when trying to grow. We’re also very aware of the role we can play in helping address these challenges, which is why we expressed our interest in the Government’s plans from the outset.

“We are strong supporters of the Australian Business Growth Fund and believe it can make a real difference to the businesses it invests in. The success of similar funds in Canada and the United Kingdom makes it clear that this model of support can provide a powerful boost for small businesses with the potential to deliver big impacts and help them grow and prosper into the future. We look forward to playing our full part in the fund’s work.”