Original article by Geoff Chambers
The Australian – Page: 2 : 9-Oct-24

Data from the Australian Securities & Investments Commission shows that administrators were appointed to 6,636 companies in the six months to September. The data also shows that 11,053 companies went into administration in the 2023-24 financial year. Some 22,800 businesses have collapsed since the federal election in May 2022, and shadow small business minister Sussan Ley says the government is on track to be the worst on record with regard to business insolvencies. Meanwhile, a report from the Council of Small Business Organisations Australia and the Commonwealth Bank has warned that operating conditions for small businesses are "arguably the most challenging in living memory".

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA