Insolvencies 2022-2023.
Source:
https://www.smartcompany.com.au/finance/cashflow/construction-insolvency-collapse-increase-inflation-cash-flow
This past year has been one of the toughest in recent memory
for business owners in Australia.
In 2024 alone, customers have mourned the loss of countless
construction companies, dairy brands, food retailers and clothing stores as
they plunged into administration.
Business failures and voluntary administration has spiked to
mid-pandemic levels thanks to the ongoing cost of living crisis.