SMEs Contemplate Insolvency Options as Fears Set In

An independent survey commissioned by insolvency firm Jirsch Sutherland has found that of the 1,000 business owners and directors surveyed, 51 per cent said they were expecting to explore restructuring or insolvency options in the next six months, Accountants Daily reported. The prospect of JobKeeper coming to an end was far from their primary concern, with just one in 10 worried about the phase-out of the wage subsidy scheme. Instead, cash-flow concerns continue to keep business owners up at night, with 36 per cent nominating it as their stressor. “More businesses fail due to lack of cash flow than due to lack of profit,” said Bradd Morelli, Jirsch Sutherland’s national managing partner. Read more