It feels like there is a high-profile liquidation every other week. Media coverage has included stories on the collapse of tiny home companies, construction firms and homeware retailers, among many others. In just the past week, a failed pool company was under the spotlight.
When businesses enter liquidation they usually leave a trail of destruction unpaid suppliers and employees as well as customers who do not receive what they have paid for.
There are things we can do as individuals to minimise the risk associated with choosing a business to work with. For instance, you can obtain a business credit report which offers a snapshot of a companys creditworthiness. But this comes with an added cost of at least NZ$49.
But my research shows …
Read the full article at: https://theconversation.com/failed-nz-businesses-leave-a-trail-of-destruction-here-are-3-things-inland-revenue-could-do-to-minimise-damage-210370