Australias Small Business and Family Enterprise Ombud is calling on the federal government to reactivate temporary insolvency protections that will help cushion small and family businesses during public health ordered lockdowns.
The number of businesses going into administration increased by 75% in the last week of June 2021, according to new data released by CreditorWatch.
It is amid this backdrop that Bruce Billson, the Small Business and Family Enterprise Ombud, argues the government should reintroduce temporary changes to help protect small and family businesses that may be trading insolvent due to lockdown restrictions.
For those businesses in Australia who have now weathered the impact of multiple lockdowns since the COVID-19 pa…
Read the full article at: https://www.themandarin.com.au/164487-ombud-advocates-for-return-of-temporary-insolvency-protections/