In a concerning trend, Western Australia has witnessed a staggering 42 per cent increase in business insolvencies, with more than 1000 businesses collapsing between January and December last year.
The alarming statistic, revealed by recent analysis, underscores the dire straits faced by small business owners in the state.
The construction and hospitality sectors have borne the brunt of these closures, accounting for nearly a third of the failed businesses.
The sectors, particularly vulnerable to economic fluctuations, have been severely impacted by high interest rates and reduced consumer spending.
Liberal…
