While Aussie businesses are making small strides towards recovery, new data reveals many continue to struggle with overdue debt.
Figures from digital credit agency CreditorWatch released this week show that fewer businesses defaulted on credit last month – Julys default figure was 13% lower than in June. July also saw companies take a shorter time to repay any money owed, with an average 8% decline in payment times recorded across the board.
But CreditorWatchs chief executive officer, Patrick Coghlan said these signs of improvement are modest at best. For one, payment times were still a staggering 224% higher last month than in July 2019.
While at first glance, a decrease in business administration, defaults and payment times seems to in…
Read the full article at: https://mozo.com.au/business-banking/articles/debt-relief-small-business-recovery-remains-slight
