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Small businesses should brace for a lacklustre recovery and a worse-than-expected surge in insolvencies if the nation’s “phantom” lockdown continues, according to an economic outlook report.
The future of two major hotels set to open in Australia this year has been thrown into question after Probuild entered into administration.
Probuild has gone into voluntary administration, placing up to $5 billion in commercial and public sector projects in jeopardy.
The latest CreditorWatch Business Risk Index has revealed that business insolvencies are set to rise across the year whilst court actions also saw a massive surge as the economy moves through the impacts of the omicron wave.
Small businesses across Australia would have to endure extra pressure after a tough start to 2022 due to ...