Insolvency experts are expecting a flood of businesses to collapse when the Government’s stimulus packages end in September.
Referred to by some economists as the “September cliff”, business owners who are struggling with cash flow are being urged to balance their books now while there is still time.
Recent Australian Bureau of Statistics (ABS) figures show that 72 per cent of businesses took a hit to revenue as a result of COVID-19.
A further 73 per cent of businesses accepted support measures such as the JobKeeper program or deferred loan repayments to defer sacking workers.
Bill Lang…
Read the full article at: https://www.9news.com.au/national/australia-coronavirus-flood-of-business-insolvencies-when-jobkeeper-ends/b121497a-4605-4d4c-a406-96a4bd4422ce
