One of the most unfortunate outcomes of the pandemic is that many businesses who started 2020 confident about their prospects could never have imagined confronting challenges that have put many of them right on the edge.
The Governments COVID Safe Harbour laws kept many businesses in play last year, but these safeguards are no longer in play.
With Australias new insolvency laws in place, small business owners have the opportunity to keep control of their business while it is restructured, but they must be aware of restructurings likely negative impact on their cashflow.
ALSO READ: The changes in insolvency & restructuring rules that could catch out Australian businesses
There are four key actions that small business owners should take i…
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