Media Releases

After a challenging two years, we welcome the support offered to Australian SME businesses by the Federal Government in the 2022-23 Budget.

Set against the challenges of an inflationary environment, labour shortages, and heightened labour costs, business lending in Australia is set to rebound this year, and SMEs will play an important part in our nation’s ongoing economic rebuild.

Given the dynamics of 2021, we felt that it was important to undertake another comprehensive health check of the SME economy six months on from the last report. This mid-year report reveals that one in two SME businesses (with a turnover of $1 million to $50 million) are in a growth/expansion phase, whilst one in two also attempted to access new funding in the last six months. Sadly, this report shows that some things never change, particularly when it comes to the major banks.

Australia has emerged from the pandemic in a stronger position than most, but now the time has come for a more future-minded approach to economic management. On Tuesday 11th May 2021, Treasurer Josh Frydenberg will announce the 21-22 Federal Budget.

At Judo, we are purpose-built to serve SMEs. That’s why we’re bringing you the key takeaways from this year's Federal Budget, in the context of what it means for you as a business.

As a relationship-focused bank, we are committed to supporting our customers and non-Judo customers through the current economic environment and beyond. In partnership with renowned economist Warren Hogan, we’ve created an essential Federal Budget eBook and podcast. We hope the insights and perspectives contained within both provide Australian SMEs with welcome clarity and direction. The government’s message is clear. The economy has been on pause for long enough, now it's time to press play and get Australia and Australian businesses moving forward again.