Business
Risks in turning fiscal cliff into ‘set of stairs’ – The Australian Financial Review
Extending temporary insolvency relief has helped reduce the risk of business falling off a fiscal cliff. But it’s not without risks.
“And I don’t know that the business community is quite ready for it.”
The insolvent trading suspension appears to be doing its job. New data from CreditorWatch said the number of businesses entering administration dropped 37.1 per cent from July to August, with last month’s number 60 per cent below 2019’s monthly average.
CreditorWatch also reported that businesses are waiting 43 days for payment, almost three times longer than in 2019.
That may suggest struggling businesses are holding on to…
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