On 27 June 2025, the Australian Securities and Investments Commission (ASIC) released its review of the small business restructuring (SBR) process from 2022 to 2024. The review covered 3,388 SBRs undertaken between 1 July 2022 and 31 December 2024.
A refresher on the small business restructuring process
The SBR process was introduced in haste in early 2021 to “support increased productivity and innovation by reducing the complexity and costs involved in insolvency processes…and ultimately helping small businesses to survive” (Corporations Amendment (Corporate Insolvency Reforms) Bill 2020).
However, the initial uptake was incredibly slow, with only 82 SBRs undertaken in the first 18 months.
We put this down to uncertainty in…