The countrys bankruptcy regulator has warned of the rising number of personal insolvencies affecting vulnerable Australians, as small business owners struggle to make ends meet due to mounting debts.
Australian Financial Security Authority chief Tim Beresford said personal insolvency was rising, with rates increasing from about 10,000 last year, to 12,500 this year, and 15,000 next year.
The 10-year (annual) average is 23,000, he told small business leaders at the Council of Small Business Organisations Australia national small business su…
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