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Businesses at Risk as Record High Default Rates Raise Alarm Bells

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Businesses at Risk as Record High Default Rates Raise Alarm Bells
A pedestrian moves past a shop window in Sydney, Australia, on Aug. 16, 2022. Lisa Maree Williams/Getty Images
Alfred Bui
|Updated:

More and more Australian businesses are facing insolvency risk as trade payment defaults reached a record high in June due to the impacts of inflation and interest rate hikes.

According to a new report by CreditorWatch, a credit reporting agency, business-to-business trade payment defaults rose to 1,586 cases in June, up 52 percent from a year ago.
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Alfred Bui
Alfred Bui
Author
Alfred Bui is an Australian reporter based in Melbourne and focuses on local and business news. He is a former small business owner and has two master’s degrees in business and business law. Contact him at [email protected].
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