Business bankruptcies – 6,000 to 9,000 each year
Given that ‘small business’ itself is defined in various ways, none of which is based on the legal structure of the business, it may not be surprising that small business bankruptcies are hard to pin down, definitionally, and in number. As a rough guide, sole trader/partnerships comprise about half of small business in Australia, the […]
Failing fast … five hundred and something days to wrap up a business?
At the PJC inquiry into corporate insolvency, in the context of the 2015 Productivity Commission (PC) Report on Business Entries and Exits, the point was made that going through a corporate insolvency was a “very long and complex process” with completion of a liquidation taking on average over 500 days. “That was the median, and […]
