insolvency australia and creditorwatch predicts insolvency and increased debt for many businesses
News

Small business insolvency rates and court wind-ups on the rise

- February 8, 2024 2 MIN READ

  Small business owners across Australia are facing a surge in insolvency rates as court-ordered wind-ups increase. According to the latest corporate insolvency index from Insolvency Australia, there has been a massive 133 per cent increase in court wind-ups during the first half of the 2024 financial year compared to the previous period. The report… Read more »

Stressed woman with head in hands in closed cafe
News

3 warning signs your business is heading for insolvency

- February 14, 2023 3 MIN READ

  The rising costs of living, record low pay rises and an increasing official cash rate may see many Aussie small businesses pushed to the brink of insolvency in the coming months. According to Michael Chan, principal and personal insolvency specialist at Jirsch Sutherland, bankruptcies could be on the cards as business costs continue to… Read more »

Young restaurant owner sitting in empty, closed venue
News

Why we need a better solution for insolvency

- December 14, 2022 3 MIN READ

  Entrepreneurs with great ideas may not always succeed. Many of our greatest companies and inventions were started by people who failed the first time. Yet, the current insolvency system is not sympathetic to honest failure and genuine prospects for recovery of the business or business owner, writes Australian Small Business and Family Enterprise Ombudsman,… Read more »

federal budget
News

Insolvency laws for Australian small businesses are being changed to help increase their chances of surviving

- September 24, 2020 3 MIN READ

The Morrison government will make sweeping changes to the insolvency system to improve the chances of saving small businesses hit by the pandemic. The reforms – which are described as the most significant for three decades – will cover three quarters of businesses currently subject to insolvency, almost all of which have less than 20… Read more »

insolvency
News

Insolvency changes could provide some relief to struggling businesses

- May 4, 2020 2 MIN READ

Back in February, I wrote a piece for Kochie’s Business Builders about managing the economic fallout of COVID19, but it’s fair to say that businesses are suffering more than anyone could have possibly conceived, with some of the most prominent players in their industries, like Virgin Australia, going into voluntary liquidation, writes Domenic Calabretto, CEO of … Read more »