Rise in Defaults Signals New Wave of Insolvencies for Small Australian Businesses

Rise in Defaults Signals New Wave of Insolvencies for Small Australian Businesses
Customers are seen in the food court area of Broadway Shopping Centre in Sydney, Australia, on Aug. 6, 2020. Lisa Maree Williams/Getty Images
Alfred Bui
Updated:

A new wave of insolvencies could emerge within the Australian economy as an increasing number of small businesses around the country are unable to pay their invoices on time.

According to CreditorWatch’s latest business risk report, payment defaults had risen by 53 percent in August compared to the same time last year.
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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