Business Closure Rates Above Pre-COVID Levels, Creditor Group Warns

Western Sydney is bearing the brunt of weak consumer spending with businesses in the region closing at the highest rate in the country.

A customer pays for their goods with cash at South Melbourne Market in Melbourne, Australia on March 26, 2025. Asanka Ratnayake/Getty Images

Despite the Albanese Labor government’s upbeat rhetoric on Australia’s recent economic performance, the numbers tell a bleaker story.

Business closure rates are now “at or above pre-COVID levels,” according to CreditorWatch.