Business Pulse: June 2026

By Shane Ditcham

Six to eight months ago, cost was the primary focus for many of our business customers. That’s shifted. Price still matters – especially with rising fuel costs and other input pressures – but right now it’s more about availability and trusted relationships. People want someone who knows them and can see them through the challenges.  

That makes sense. If you’re just price shopping, you can end up with someone who doesn’t really understand your business. And when you need support, it’s not necessarily there.  

As one customer recently told me, “We’re okay because we’ve had a relationship with our main supplier for 20 years.” They’ve always invested in that relationship, and now under pressure, they are a priority. That’s how important relationships are in moments like this. 

Our most resilient business customers have always understood that. In fact, they’re constantly building relationships. What’s struck me time and again is how people oriented they are. They want to meet people and connect with them. They’re always asking questions, always open to new ideas.  

That engagement, that mindset, extends to their customers. It’s why they’re so clear on who they are and what they do well for them. And they back themselves on that. 

Of course, even the most resilient businesses face setbacks, whether that’s a contract dispute, family issues, competition that appears from nowhere. It’s never a linear success story. Recent global events are just one more challenge – if more public and visible.  

Right now, these businesses are responding by networking and using their relationships – talking to others in their industry, or to us as their banking partner. They’re open about the challenges and work together to find solutions. 

On our side, it’s about listening, really understanding what’s going on – whether it’s good news or not – so we can support them properly.   

That’s where experience matters. Over our 170 years in business, we’ve been through these cycles many times. It gives you the confidence and discipline to genuinely be there for your customers – to listen, understand and figure out how you can be there for them.  

What’s in a great partnership? 

When I think about what partnership means to me having spent my career as a relationship banker, the number one thing is mindset. You need to go in with a real sense of gratitude that you’re part of this business’s story for however long you’re involved.  

The ones you remember are usually the great stories. Families or groups who started with very little – an idea, a niche – and built something meaningful. For a period of time, you’re their banking partner, a custodian of that journey. That’s a privilege. 

And it comes with real responsibility. If you’re a partner, you need to understand not just what the business does, but what the owners are about – their ambition, their motivation and how you can support that. 

One example is a supermarket group that’s been our customer for many years. They started with zero, driving their trucks to the fruit market and doing everything themselves.  

They knew how to retail fruit and vegetables, so that’s where they began. Over time, they found a niche and expanded into supermarkets. When you walk into their stores today, you notice and feel the difference compared to the major chains. 

I remember walking through one store with the owner. Every counter was open, even a few that weren’t being used. I said, “What about this – you’re paying that person and they’re not serving customers?”  

He said, “No, that’s not the way we operate. No one waits at our supermarket.” 

That was his view of customer service. It was completely different to his competitors and I’ve never forgotten it. 

As a banker, the challenge was explaining that to our risk team. Their costs were higher than others, but the fact is they were thinking long-term – five-year horizons, not three months.  

Fortunately, we were able to convey their vision. And it worked. They’ve been incredibly successful over the years. 

How can we help your business? 

We’re in regular contact with business customers across the country at the moment.  

Often, it’s simply about staying connected. We know Australian businesses are highly resilient – they’re used to planning for seasonal change, fluctuating input costs and uncertainty – and, encouragingly, most customers we’re speaking with are managing the current conditions well. 

But some are feeling the pain earlier than others – whether it’s in hospitality where people are pulling back on their spend, development projects where materials like PVC pipes have jumped some 40%, or regional and agribusinesses where supplies like fuel and fertiliser are in short supply.  

For them, our message is simple – if your business is being impacted, reach out. Your banking partner is there to help, and if they can’t assist you directly, they’ll bring in the right people who can. We’re in this together.

What sets resilient businesses apart

1. Strong cash flow discipline

Sustainable businesses stay close to their cash position, even when things are going well. They plan ahead, build buffers and make decisions based on what the business can actually support, not just optimistic forecasts.

2. The ability to adapt 

Markets shift, costs change and customer expectations evolve. The businesses that last are the ones that are willing to adjust – whether that’s refining their offer, changing how they operate or rethinking growth plans. Businesses that have a clear view of what they can control are always best placed to respond to changing conditions.

3. Investing in people and relationships

This includes employees, customers and trusted advisers. Businesses that surround themselves with the right people tend to make better decisions, spot issues earlier and build stronger loyalty over time.