This comes after a year with lower numbersof businesses entering external administrationthan usual.Australian Securities and Investments Commission (ASIC) recently reportedthat 2020-21,4235companies entered external administration. Thiswas after7362 in 2019-20, and8105in 2018-19.
Thenew ABS data saw a12 per cent exit rateof businesses2020-21, downslightlyfrom12.5 per cent the year before.Dr Pamela Hanrahan, Professor of Commercial Law and Regulation at UNSW Business School says thesestablenumbersshow we are not seeing the wave ofbusinessclosures some predictedwhen government measures like the JobKeeper program and suspension of Australia’s insolvent trading lawsaimed at supporting businessesended.
“The reasons for this might be co…
Read the full article at: https://newsroom.unsw.edu.au/news/business-law/steady-business-exit-rates-show-post-jobkeeper-fallout-yet-emerge
