Struggling businesses seeking help too late
SMEs struggling with cash flow problems and other financial difficulties are being urged not to sit tight and hope they pass, given they play a huge role in business collapses.
This time last year, ASIC revealed that of the 7,613 reports it had received from external administrators in the 2017–18 financial year, poor cash flow or abnormally high cash use were found to be the main causes for a business collapsing — prevalent in 49 per cent of cases.
Read more at MyBusiness.
