The post-pandemic market has been challenging for small and medium-sized enterprises (SMEs) across Australia. While we like to think we are over the pandemic, the truth remains that the lingering effect of COVID-19 is continuing to unsettle the economic landscape, with an alarming rise in reported insolvencies. While the most common reason for business failure remained cashflow issues, almost 20% of all insolvent companies cited the pandemic as a contributing factor.
Australia is not unique, however, with Financier Worldwide reporting: “Among the challenges have been market pressures in the form of evolving customer behaviour following the coronavirus (COVID-19) pandemic and the impact of competitors’…
