As insolvencies hit record highs, brokers are vital in helping Australian businesses manage debt and reduce financial stress.
Australian businesses are facing significant financial pressures, with insolvencies reaching record levels. According to the latest financial insights report from Alares, insolvencies in November 2024 were 70 per cent higher than the historical average.
Peter Arnold, director at GAP Business Loans, a non-bank lender, has highlighted the crucial role that brokers play in assisting business clients to manage debt and alleviate financial stress. Arnold believes that for many business owners, debt is not just a financial figure, but a representation of their livelihood.
“For many of a…
