A breakdown of the business landscape across Australia has revealed record-high insolvencies, with things expected to get worse as we enter 2025.
CreditorWatch released its November Business Risk Index, with data showing insolvencies are at “record highs in number,” up 57 per cent since November 2023.
Further, the average business failure and closure rate across all sectors is sitting at 5.1 per cent. This is the highest it has been since August 2020.
As we enter the New Year, an early forecast is predicting it will only get worse, with the failure rate expected to hit 5.6 per cent in the coming year.
A variety of issues are creating issues for Aussie businesses. B2B payment defaults and elevated…
