In the world of corporate insolvency, the list of industries at the highest risk of insolvency has changed very little over the last ten years. According to ASICs Insolvency Statistics, of the over 11,000 corporate insolvencies in Australia annually, 76% come from five industries: Construction (19%), Accommodation and food services (10%), Retail trade (7%), Transport (5%) and Other (business and personal) services (35%). The Other services is largely made up of small contractor type businesses largely associated with the construction industry.
If you break this data down by state, New South Wales, Victoria and Queensland share the same top five industry profiles and ranking, while the Northern Territory, Tasmania and Western Australia s…
Read the full article at: https://www.theceomagazine.com/business/finance/corporate-insolvency-risk-industries/