Business Financial Distress Nears COVID Levels as Sole Trader Numbers Rise

Business Financial Distress Nears COVID Levels as Sole Trader Numbers Rise

The volume of businesses struggling to pay their debts in Australia is on track to exceed the heights set during the COVID-19 pandemic, according to two reports on the nation’s economic health. Up to 13 percent of working-age Australians and 47 percent of secondary school students want to work for themselves or start a business, but that’s not translating into a pipeline of new enterprises, according to the Committee for the Economic Development…