Australia needs new insolvency laws to encourage small businesses
- Written by Kevin B Sobel-Read, Lecturer in Law and Anthropologist, University of Newcastle
Banks aren't sure they will recover their money if SMEs fail.ShutterstockThe Ten Network’s recent experience of voluntary administration and subsequent rescue by CBS demonstrates how insolvency law works for large Australian companies. But 97% of Australian businesses are small or medium size enterprises (SMEs), and they face a system that...
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