A new report by ASIC has revealed that small business restructuring (SBR) appointments have surged in recent years, rising from 448 appointments in 2022–23 to an estimated 3,000 in 2024–25.
“After a slow start, the recent growth of SBRs and other data in our report shows that the SBR regime is starting to deliver on the intended policy objective of reducing the complexity and costs involved in insolvency processes for small businesses and ultimately helping them to survive,” ASIC commissioner Kate O’Rourke said.
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In 2021, the federal government launched the SBR scheme to support small businesses in the wake of the COVID-19 pandemic. The…