ANZ CEO Australia Mark Whelan said: “Our Trade Lending Pledge aims to raise awareness of how we can help Australia based business customers, big and small, who are looking to expand in new markets.
“Asia offers incredible opportunities for growth, but often Australian companies don’t know where to start on this journey or believe it is very difficult to access finance,” said Mr Whelan.
Research has revealed that 25% of Australian businesses operating internationally require additional debt funding every year, while 62% of those businesses said they found it difficult to source this funding from Australian financial institutions*.
“The Australian economy relies not only on entrepreneurs, but also on proven businesses that are able to expand into new geographies or product and service areas. Australia has negotiated a number of significant free trade agreements with key trade partners and there is huge potential for the country to broaden the mix of its export base. ANZ stands ready to back Australian businesses that are ready to take this next step,” said Mr Whelan.
A recent report by ANZ, PwC and AsiaLink Business 'Australia's jobs future – the rise of Asia and the services opportunity', forecast that services could comprise Australia’s largest export sector by 2030 with revenues of $A163 billion and employing 1 million people.
The $3 billion Trade Lending Pledge is available to new and existing customers and more information can be found at www.businessadvice.anz.com. ANZ also continues to support start-up businesses through a separate $2 Billion Lending Pledge.