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Wave Of Insolvencies Sweeps Across Australia While Labor Concentrate On Racial Division, page-4

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cowcockie

8,052 Posts.

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28/06/23

15:43

Post #: 68516334
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Originally posted by Kewbrick9: ↑

Anyone see this?

https://www.9news.com.au/finance/rise-in-business-collapse-insolvency-interest-rates-inflation-cost-of-living-explainer/ca18acb7-eeba-4a4c-b08c-a060e998847e

There are a few more of these articles but you need a subscription to view them.

Basically the gyst is that insolvencies are soaring across the country, closing in on all time records.

In May alone there were close to 1000 businesses going bankrupt - something which hasn't been seen since the GFC.

Cost of living is crippling business left right and centre. Cost of goods way up, rents soaring, power bills through the roof..and so it goes on and on.

Personally I have spoken to at least a dozen small businesses around my area alone (Mordialloc, SE suburb of Melbourne) that are either closing or on a knife's edge. And each one tells me that they personally know of dozens of businesses that are in the same boat.

THIS is what we should be talking about. NOT The Voice to Parliament.

Where are you Albanese?? Where are you Andrews??

Thoughts???

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To make matters worse most of these small businesses put up the family home to get their business loans.
Will probably be forced to sell the house as well.
Great work Albo.
You bloody economic illiterate.
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