The Australian Small Business and Family Enterprise Ombudsman Bruce Billson has urged the Federal Government and regulators to consider the reactivation of temporary insolvency protections, to support small and family businesses doing it tough in lockdown.
Mr Billson says the re-introduction of measures, such as the extension to existing safe harbour provisions, would provide temporary additional protections for small and family businesses that may be trading insolvent due to lockdown trading restrictions.
Small businesses arent like a light that can be switched on and off, Mr Billson says.
With full respect for the need for public health orders, lockdowns do have a significant and immediate impact on small and family businesses an…
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