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NAB & Telstra create digital business marketplace for small business

Telstra News

Posted on June 2, 2016

3 min read

Small businesses around Australia will soon be able to develop and grow through a new digital marketplace called Proquo; a start-up joint venture between NAB and Telstra, writes Andy Ellis.

Proquo, a modern interpretation of the phrase quid pro quo (meaning ‘this for that’) will offer more than two million Australian small businesses an online platform to network, trade or swap services with each other.

Proquo will open new doors and opportunities for many small businesses, allowing them to work with like minded operators to network, share, swap and trade with each other within this digital marketplace.

Small businesses and startups often struggle to get off the ground, especially in the early stages of operations, and our research shows that helping businesses connect so they can build their networks with suppliers, customers and peers and exchange services will be a great advantage for them.

As an example, a web designer may need the services of a brand expert or copywriter, they’ll be able to use Proquo to source a range of services from other providers, create briefs, exchange quotes, manage payments and publish reviews all in the one place. A unique ability of the platform will also allow users to swap or exchange their skills or services in addition to traditional monetary payments.

It’s the combined strategic capability of two of Australia’s biggest companies that will create an innovative business option for the small business community, which makes up approximately 97 per cent of the Australian business market.

Telstra supports more than one million businesses across the country with technology solutions so they can focus on running their business; and we believe Proquo will offer them a new and innovative way to network and help their business thrive.

Proquo will begin a pilot phase in June, with a full launch expected in July 2016.

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Fast Facts about Proquo

  • Proquo is aimed at small and micro businesses who either can offer or are in need of marketing, accounting, legal, design or technology services.
  • Registration is quick and easy and can be done at
  • The workflow has five simple steps for small businesses to help them seek and obtain services from the community – (1) Write a brief; (2) Write a quote; (3) Agree outcomes and commence work; (4) Complete and pay; (5) Rate and review).