Inflation, high interest rates, dwindling consumer confidence, a tight labour market and an aggressive tax office will push more businesses into bankruptcy by the second half of next year.
That is the view of insolvency and company restructuring specialists, who are bracing for a correction to the record low levels of business collapses since the onset of the COVID-19 pandemic as a result of pumped-up government stimulus and a lenient Australian Taxation Office.
A number of factors will push more businesses into bankruptcy by the second half of next year. Credit: Ben Symons
Turnaround Management Association chairman Jason Preston said the consequences of …
Read the full article at: https://www.smh.com.au/business/the-economy/businesses-that-survived-as-result-of-pandemic-tipped-to-collapse-in-2024-20231218-p5es4c.html