Alarm bells as insolvencies, payment defaults spike
New figures released by CreditorWatch have revealed a 20 per cent jump in the number of business insolvencies in Australia, with payment defaults also rising by double-digit figures.
The firm said in its Q3 Small Business Risk Report — which it said uses official data from 26 different sources, including ASIC, debt collectors and court records — that insolvencies were 5 per cent higher year-on-year, driven in part by the significant surge in the September quarter.
Read more at MyBusiness.
