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CBA: Records surge in millennials opening business accounts

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  • Australia’s leading provider of financial services including retail, premium, business, and institutional banking, funds management
  • New research from CBA found the number of millennial small business owners on the rise, with many young Australians
  • The number of new CBA Business Transaction Accounts surged 36 per cent over the past six months
  • Millennials accounted for 57 per cent of all new business accounts in the last 6 months up from 43 per cent in 2015
  • The average age of those opening a CBA Business Transaction Account 38 years, in comparison with 44 years in 2015
  • CommBank Neo Business provides small business customers with up to $3,000 of credit, with no interest payments, no late payments

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