Small businesses are experiencing elevated debt stress at more than double the rate of non-business owners.
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Consumers are getting on top of their debts, but it is a different story for small businesses, with liquidations on the rise.
Credit reporting firm Centrix said June’s data paints a complex picture, with a slight year-on-year improvement in arrears, while small businesses were experiencing elevated debt stress at more than double the rate of non-business owners.
The June report indicated the number of individuals behind on payments in June fell by 7000 to 478,000, representing 12 percent of the credit-active population.
Mortgage arrears fell 1.4 percent with 21,600 home loans past due, while mortgage…