Backing Business: From Ideas To Innovation

The latest magazine edition explores how innovation and resilience are helping businesses adapt to change. You’ll find real stories, EOFY pro tips and trends to help you thrive.

What’s in this article

• AI innovation and big-picture business trends
• Cover feature – from idea to innovation
• EOFY is on – 5 bottom line boosters
• Download full issue of Backing Business magazine

Running a business can feel full on. Between day-to-day decisions, planning for tax time and thinking about what’s next, it can be hard to know where to focus. Download your PDF magazine for tools and insights to help you thrive.

AI innovation and big-picture business trends  

Luci’s Lookout: trends to watch

In times of economic disruption, the ability to pivot and build buffers can make all the difference to your business’s future resilience says Luci Ellis, Westpac Group Chief Economist. This quarter, the focus is on how innovation can help Australian businesses adapt to change. And what to watch as interest rates and market conditions evolve.

How AI can help you scale your business

Scan our data snapshot of Australia’s SME business innovation landscape, including AI adoption, tech investment, and how startups are using AI to create value. 

AI Trends: decoding data to scale your business

AI isn’t just for large companies. Whether you’re starting out or scaling a business, this article is worth a read. Andrew McMullan, Westpac’s Chief Data & Analytics Officer, shares practical tips on using AI to automate tasks, understand customers and make smarter decisions.

Andrew suggests most SMEs get the quickest lift by tightening the basics – consistent transaction categories, clear cash flow visibility, and a short list of decision signals that are reviewed weekly.

Your money tools

Westpac’s Business Money Tools help you track cash flow, income and expenses, and spot spending trends in the Westpac App.

Cover feature – from idea to innovation 

Ready to bring your idea to life? Our cover story follows three businesses at different stages of growth, from an initial spark to new opportunities. We focus on what helped them move forward, from testing new ways of working to building strong relationships as their needs evolved. And how progress often comes from small, considered steps rather than big leaps. 

You’ll find insights on:

EOFY is on – 5 bottom line boosters

June 30 is more than a deadline. It’s a chance to pause, review and set your business up for the year ahead. Created with Lawpath, these practical EOFY essentials help business owners focus on what matters most.

Love Your Local: Tassie banker feature

Meet Dwayne Douglas, a Westpac business banker based in Tasmania. From day to day business banking needs to planning for growth, Dwayne shares how access to a business loan, combined with local knowledge, can help businesses navigate change.

Download and share the full magazine 

Your time matters – whether you’re a sole trader, running a family business, or leading a growing team. You can download the full issue as a PDF and read it on the go. Save it, share it, or print it – whatever works for you. And if you’d like to be featured in the next edition, reach out to your local business banker.