Small businesses have been urged to secure their assets and business loans on the Australian governments register of security interests ahead of an anticipated rise in insolvencies.
Australian Small Business and Family Enterprise Ombudsman Kate Carnell believes many small businesses are not fully utilising the Personal Property Securities Register (PPSR) as protection in the event of an insolvency.
Given the incredibly tough past 12 months weve had and predictions of a wave of insolvencies to come, PPSR has never been more important, Ms Carnell said.
Many small businesses are not aware that correctly registering their interests can save them a world of pain in the long run.
So many small businesses have invested heavily in their busin…
Read the full article at: https://www.accountantsdaily.com.au/business/15300-asbfeo-issues-call-to-register-assets-ahead-of-insolvency-spike
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