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COSBOA Small business banking and finance survey

 

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1. I am best described by the following:

I am best described by the following:   Current small business owner Current small business manager Previously owned a small business (in the past 18 months) Previously managed a small business (in the past 18 months)

2. Which type of financial institution does your small business principally use?

Which type of financial institution does your small business principally use?   Bank (Big Four - NAB, ANZ, Westpac, CBA) Bank (Second Tier - Bendigo and Adelaide, SunCorp, Bank of Queensland, St George) Bank (Foreign - eg Citibank, Rabobank) Credit Union/ Building Society Investment Bank Non-Bank Financial Institution

3. In general, are you satisfied with the products and services offered to your small business by your current financial institution?

In general, are you satisfied with the products and services offered to your small business by your current financial institution?   Very satisfied Reasonably satisfied Satisfied Somewhat satisfied Not satisfied

4. Have you experienced a change in the terms or policies of your small business financing arrangements in the past 18 months?

Have you experienced a change in the terms or policies of your small business financing arrangements in the past 18 months?   Yes No Unsure

5. If yes, please indicate what changes in your financing arrangements you have experienced:

If yes, please indicate what changes in your financing arrangements you have experienced:   Increase in fees and charges Withdrawal of credit facility Increased in level of security required Increase in paperwork and documentation Increase in interest rate No reduction in interest rate over the past 18 months despite lower RBA cash rate Forced to restructure financing arrangements Forced to surrender attractive financing facilities Unilateral re-assessment of risk rating of your business

Other (please specify)

6. Have you changed banks/ financial institutions in the past 18 months?

Have you changed banks/ financial institutions in the past 18 months?   Yes No

7. How important is it to your small business to have access to affordable credit/finance to operate your small business on a day to day basis?

How important is it to your small business to have access to affordable credit/finance to operate your small business on a day to day basis?   Very important Reasonably important Important Somewhat important Unimportant

8. How important is it to your small business to have access to affordable credit/finance to expand your business?

How important is it to your small business to have access to affordable credit/finance to expand your business?   Very important Reasonably important Important Somewhat important Unimportant

9. If you have applied for credit/finance in the past 18 months and have been unsuccessful, what reason was given by your financial institution (if known)?

If you have applied for credit/finance in the past 18 months and have been unsuccessful, what reason was given by your financial institution (if known)?   Unviable business plan Lack of security Bad personal credit history Excessive risk associated with the industry that the start-up would operate in Lack of requisite documentation (ie documents did not meet the bank’s standards)

Other (please specify)

10. What are the most likely uses that your small business would have for more credit/finance?

What are the most likely uses that your small business would have for more credit/finance?   Improve cash flow Boost operating capital Fund growth Seize expansion opportunities Employ more staff Support business viability None

Other (please specify)

11. How important is a competitive banking and finance industry for small businesses?

How important is a competitive banking and finance industry for small businesses?   Very important Reasonably important Important Somewhat important Unimportant

12. Do you think small businesses currently have access to a competitive banking and finance industry in Australia?

Do you think small businesses currently have access to a competitive banking and finance industry in Australia?   Yes No Unsure

13. In your view, which (if any) of the following reforms would help small businesses access affordable credit and finance? (You can choose more than one answer).

In your view, which (if any) of the following reforms would help small businesses access affordable credit and finance? (You can choose more than one answer).   Have more Australian banks/ financial institutions Have more foreign banks in Australia More Government regulation of bank fees and charges Portability of current/operating bank account numbers between between financial institutions (ie change banks, without changing your bank account details) Ability to move residential mortgage-secured business loans between lenders more easily Company tax cash-loss carry back Government regulation of 'switching costs' (eg loan break and exit fees) Government fund to finance small businesses (similar to the proposal for Australian Business Investment Fund)

14. What suggestions do you have to improve the access of small business to credit and finance?

What suggestions do you have to improve the access of small business to credit and finance?

15. Would you like to receive monthly e-newsletters from the Council of Small Business of Australia?

Would you like to receive monthly e-newsletters from the Council of Small Business of Australia?   Yes, please No, thanks I already receive them.

My email address is:

16. Please enter your basic business details below so that we can validate our survey results. This question is optional, but it would help us to know what town/state you're from.

Please enter your basic business details below so that we can validate our survey results. This question is optional, but it would help us to know what town/state you're from.   Name:
Company:
City/Town:
State/Province: