Business owners are becoming more conservative with borrowing after recent data highlighted challenges are persistent.
Business failures are rising and forcing many to rethink processes, according to the Experian Commercial Risk Barometer.
As of the last quarter of 2024, there was a 0.7 per cent increase in businesses operating in the Australian market.
Businesses at high risk of failure rose by 1.3 per cent, more than double the rate of establishment. Meanwhile, those at severe risk of failure rose 3.7 per cent, more than five times that rate.
What this points to, explained Experian, is industry stability and the added likelihood of a “moderate” rise in business insolvencies over the year…
