If you subscribe to Australian newsfeeds, you may have spotted the headline: ANZ TO POUR $1 BILLION INTO NEW BUSINESSES OVER NEXT 12 MONTHS. “What about New Zealand?” we wondered. So we asked ANZ’s National Franchise Manager in New Zealand, Sean Dwyer. He told us ANZ’s New Zealand arm is poised to make an exciting new announcement next week.
The amount made available by ANZ to start ups and small business in New Zealand won’t be as much, but it will be “a sizeable amount”, according to Sean. The other good news is that the bank will also be relaxing its credit policies and refreshing its innovative BizHub website, all to promote entrepreneurialism and establish ANZ as the bank for small businesses.
Clearly this is good news for the franchising industry, and should help to promote stronger growth in the industry over the next twelve months.
The funding increase is ANZ’s response to new research highlighting the challenges faced by cash-strapped small businesses.
Sure enough, the ANZ has announced that is making $500 million available for small to medium business funding in New Zealand.