Bracing for collapses

While it is good that there is a temporary lull in “high-profile” collapses, meanwhile thousands of small and micro businesses are vanishing without even appearing as a blip on the radar screen.

 

Insolvency firms give us the figures on administrations/liquidations and receiverships, but many small businesses are so cash and asset depleted that they can’t put up the $10,000 that’s asked to carry out a formal insolvency proceeding. Many just close their doors and walk away. Some have to declare themselves personally bankrupt. If someone out there knows how to measure this group, I would be interested in getting those figures ([email protected]).

 

I mentor some of these people through business crisis, and anecdotally I am hearing about this from every direction. I am but a “voice crying in the wilderness” on behalf of these people and I have made repeated representations to all levels of government seeking support – but to no avail.

 

Amanda, all SMEs appreciate the stand you have taken with the Government on behalf of the small business sector. They need someone like you to champion their cause.

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